The purpose of the Parish Finance Council is to assist the pastor with the administration and stewardship of the parish’s goods: buildings, property and finances. The members of the PFC, with recommendations from the other members, are selected by the pastor for their expertise, particularly with finances. Currently, the membership consists of 5 laymen, 1 lay woman who serves as chairperson, Fr. Evans and S. Mary Anne.
The PFC meets at least quarterly to review the financials. This enables the Council to monitor our financial health and make recommendations for improvement. Once a year, usually in late May they review revenues and expenses to date and the projected budget for the following year.
With reluctance the PFC has approved negative budgets in the last few years, with the proviso that reductions in various line items, particularly capital repairs would be made during the year, if necessary. Fortunately each year some very dedicated parishioners have stepped up with unrestricted gifts to enable us to address the deferred maintenance items for the Parish Center and the rectory. This past month two boilers and the AC coils in St. Joseph Church, and the boiler and hot water heater in the house were replaced, again with donations specified for Lincoln.
The PFC is challenged by the uncertainty of our Offertory and Grand Annual collections. Each year we fall behind in the Offertory projections and hope that the Grand Annual will make up the difference. These two collections are the major source of revenues to cover the expense of staff, program costs, and the maintenance of two properties.
For additional information or to join the Parish Finance Council, contact Sr. Mary Anne Doyle.