Finance Council

The parish is maintaining a good cash balance. Expenses are very close to budgeted amounts.
Year-to-date financial results are good and close to budget.
Hot water problem in Brioschi Hall kitchen has been corrected.
Discussion was held about the need to replace the boiler now instead of waiting. The Energy Engineer that reviewed our current installation suggested we proceed now. The risk of a failure is high enough that a new system does need to be purchased and installed.
Replacement Boiler project bids were reviewed and discussed. One bid was selected. We can proceed once the 2024 Fund-A-Need Fundraiser is successful.
Ryan Field Update: The interested buyer has started their due diligence on the field. This process will take until the fall.

Fiscal Year end audit was presented by the auditor. There was some concern about the amount of our long term debt, but otherwise, the audit was a success.
October financial reports were reviewed. Expenses are close to last year.
The Annual report to the parish is in the mail along with pledge cards for 2024.
A generous donation was received to be applied directly to the mortgage principal
Long-range building maintenance plan was distributed to the committee.
Hot water issues are being worked on and should be resolved soon.
A bid was received for the replacement boiler. This bid was for several smaller boilers instead of one large one. This will make it significantly more efficient.
The Fund-A-Need for 2024 was discussed which will be to complete the fundraising for the new boilers.

Fiscal Year 23 audit is in progress and will be presented next month.
Reviewed August and September financial reports. Income was lower than expected. However, the fall festival income was good.
A suggestion was made to put the cash reserve for the new boiler into a 6-month CD to earn more interest.
Overall expenses were reasonable
Snow removal contract has been signed.
LED conversion of light fixtures is complete in the lower level and first floor except the school cafeteria which will be done this summer
The 'For Sale' sign for Ryan Field is to be upgraded to a double sided sign so it is visible from both directions on White Bear.
Discussion on the handicap entrance to the church. It is underutilized due to the location of the button to open the door. Increased signage will be added.

Audit fieldwork will begin on Sept. 5
Reviewed Year end financial reports and July financial reports
Year end results showed income was down by $45K and Expenses were up by $18K.
July financial results were positive and showed a good start to the new fiscal year.
New energy control system, thanks to the Men's Club, has resulted in improved climate control in lower level offices, sacristy and chapel.
All flood related improvements are complete
Additional security cameras were installed thanks to the Women's Club
Pothole patching in the upper parking lot will be complete before school starts.
Plan to apply for a Star Grant from the city to repair the Conway playground retaining wall.
Sales listing agreement for Ryan Field was extended for another year.
New three year lease agreement with the school is being negotiated.

Reviewed April Financial Reports: income was strong but is still lagging for the fiscal year
Balance Sheet still shows good cash reserves
Current Fund-A-Need (Boiler Replacement) balance is $69,000—great response so far
Repairs to the building from the recent water damage should be complete is 2 weeks
No major repair/replacement projects planned for this summer. Potholes in the parking lot will be filled.
Ash trees along White Bear had to be removed
The Rain Garden project is complete. Trees have been planted.
No updated information on selling Ryan Field
Additional building security enhancements are planned
Budget for next year was discussed
Membership for next year was reviewed

March income from envelope collections were down compared to budget and from last year at this time.
Overall operating expenses are higher than budget and last year but are being monitored closely
YTD Snow Removal is much higher than budget due to our record snowfalls
Parking Lot cleanup and repair was discussed
Status of repairs from the Water leak damage was reviewed
Results from the Fund-A-Need and Friends and Family event were reviewed
2023-2024 preliminary budget was reviewed
Recruiting for new members for Finance Council and Parish Council will be after Masses on April 29 & 30

February Income was lower than budget
Cash reserves are still strong
Utility costs are high but close to budget. Snow Removal is much higher than budget
Next year's budget is being prepared
We took a tour of the building to see the water damage and ongoing repairs. There was extensive damage but insurance will cover most of it.
Plan is to upgrade both bathrooms to modern facilities (toilets first, then sinks). This will lower the chance of this happening again and make them more user friendly
Friends and Family Event and the Boiler replacement Fund-A-Need were reviewed.
Composting program will start soon. This will lower trash removal costs and be good for the environment.
Recruiting for new members for Finance Council and Parish Council will be in April and May

The financial Balance Sheet
Profit and Loss statement for January 2023; we have decreased the amount of deficit in budgeted income for the fiscal year as compared to December 2022
Continued the review of the Finance Council Constitution and Bylaws
Building Maintenance - no major repairs or issues
The replacement of the broken window, now boarded with plywood, at Door 3 will take place when the weather grows warmer; the broken window was accidentally caused by our snow removal company during work after a snowstorm
A decision was made about a maintenance project to fund in the 2023 Friends and Family Event, and an announcement will be made soon to the parish about the project
No activity so far on the selling of Ryan Field

The financial Balance Sheet
Profit and Loss statement. Results were good for November. However, increased Gas and Electric costs are significant.
Building Maintenance issues in the Parish. Increased costs due to a car accident which knocked out power to the building.
Plan to explore expanding the composting program
No activity so far on the selling of Ryan Field

St. Pascal's financial Balance Sheet
4 Additional "Principal Only" donations of $36,184 were received and applied to the mortgage
Profit and Loss statement from October
Building Maintenance issues in the Parish and School buildings
Ryan Field is now on the market
Stewardship Report for 2021-2022 Fiscal year is in the mail