Financial Statement

10-20-2019Pastor's LetterAnthony Forschino

Dear St. Thomas More Parishioners:

I would like to give you an update on our finances and progress in reducing our debt. It continues to be encouraging to witness the consistent generosity of our parishioners.

For the first quarter of this fiscal year our regular collection is on track of meeting our budgeted amount. We are averaging about $34,000 weekly. We have, however, seen an increase in our building fund collection. Our monthly mortgage payment is $8,000 and we have been averaging around $30,000 in collections. Thanks to your generosity we will be making an additional principal payment. As Fr John had stated, we had a 1.1 million dollar debt. After this payment our debt will be at $900,000.

The Sunday collection is the main source of support for all our parish programs. It is important that this income should enable us to provide for all the needs of the parish. As an example of one of our regular expenses — last month's electric bill was $15,955.86.

Thank you for your generosity which is expressed in and through our regular, building fund and special collections throughout the year and for keeping St. Thomas More and its needs in your weekly and monthly planning.

Yours in Christ,
Anthony Forschino, Finance Manager