St. James Financial Reports for FY 2012

 

Below are the most recent financials in the St/ James bulletin on September 15, 2012.

OPERATING ACTIVITY

There is a small operating loss of $36,l11 for FY 2012 compared to net income of $133,535 for FY 2011. 

Operating revenue is down $80,737 (-4'.9%) despite large increases in tuition and fees which increased $75,879 (+16.4%). Every item other than tuition and fees are considerably down.  Total collections down $64,792 (-7.6%); Donations down $50,952 (-56.9%) and Other Income down $40,872 (-17.8%).

Operating expenses increased $88,909 (+5.6%).  General expenses experienced the largest increase up $68,070 (+34.6%). Salaries and Benefits increase $48,495 (+5.0%). Other Expenses increase $14,056 (+13.3%). Building and Grounds (B&G) had a sizeable decrease in costs, $32,329 (-18.8%); these costs may be returning to the level experiences in FY 2010 when B&G  equaled $145,944, very similar to FY2012’s $139,780.  There no longer is any interest payment.

NON-OPERATING ACTIVITY

Combining FY2011 and FY2012 numbers for the New Building numbers the following facts are obtained.  As of June 30, 2012 a total of $1,224,363 ($633,306 plus $591,057) of pledges were collected. $528,905 ($165,737 plus 363,168) was expended for the new building.  Of the remaining $695,458, $497,385 is in DIAL deposits (See Statement of Assets and Liabilities 2012) and $198,073 was expended or held elsewhere.

An Attempt to reconcile Debt Retirement, New Building Collection and Dial Building Deposits—Work in Progress

By attempting to review loan repayments during the past five years some of the $198,073 may be reconciled.

See 6-30-2008 Statement of Assets and Liabilities (State A&L),total diocesan loans equaled $480,230.  Per Financial Report FY 2009, $234,722 was collected and $228,680 ( Parish Center Debt) was repaid. Leaving a balance of $6,042 not specifically accounted for as separate item on State A&L.

See State A&L 6-30-2010, an account for Dial Deposits-Building appears with $10,142. Apparently this is not recorded as non=operating activity but in one of operating income accounts , see Financial Report FY 2010.

See Financial Report FY2010 $89,058 was paid in principle payment.  See A&L 6-30-2010 a debt of $31,678 was incurred.

Debt Retirements Collections

Debt Paymen

Subtotals

 Purple appears to be combined source

Debt Retirement Collection                  Total Diocesan Loans      Dial Deposits—                                                                                                         Builidng  

$234,722             FY2009                   $480,230

-228,680              FY2009                   -228,680

6,042                                                  $ 251,550

111,133                FY  2010                    -89,058                                         $10,142

$117,175                                             $162,492

-89,058                                                 +31,678

28, 117                                                  194,170

36,988                                                -194,688                              COL     +633,306

-36,988                                                       0                                             643,448

                                                                                                                 -157,700

0                                                                                                     NB        -165,737

                                                                                                                320,011

                                                                                                        S/B     387,862

                                                                                                        NB     -363,168

                                                                                               COL + 591,057                                                                                                                      615,751                                               

615,751

   

 

                                                                                      

 

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