Church Income Statement - June 2010

Financial Results 

 Offertory collections average a 3% increase from year to year, and it appears that this year’s offertory collections could follow that trend.  Vision collections have seen a turnaround to the good.  This year’s budget has successfully absorbed the Hispanic ministry, added security at masses, and made rectory improvements.  The church continues to pay the monthly note payment of $26,692.  MDO, Afterschool, PreK and Bookstore are all self-supporting.  Leasing income (a net distribution after rent expenses paid) is about $60,000 year to date.  Upgrades and additions to the sanctuary & baptistery are being paid for by restricted monies set aside for this purpose.  It is projected the church operating budget could come out ahead by under $50,000 by fiscal year end.  We use these end of year reserves each year to make capital improvements.  Because we rely from year to year on replenishing our reserves, this is good news. 

The Church Budget for the new fiscal year July 2010 – June 2011:  Offertory collections are projected to be 3% over the current year actual.  An increase in vision collections is anticipated.  A new summer camp called “CTK Summer Bear Camp” is beginning this summer with activities that will inspire the spirit, mind and body for our children!  Also a new ministry is being formed called “Men of Faith”, which will spiritually help not only the men attending but will overflow into family lives.  More time is budgeted to be dedicated by maintenance staff to oversee building & grounds.  We continue to stay committed to being a tithing parish, meaning that 10% of the offertory collection and 10% of net Rexfest goes to CTK Charitable Outreach agencies.  The church also sends 10% of offertory collections to the school each year as a subsidy.  Over 30 programs and ministries are supported by the church budget.  

Capital expenditures are anticipated at $155,000 to make improvements throughout the church campus.  These improvements include: church office renovation, fencing repairs, parking lot maintenance, and beginning work on upgrading HVAC systems.  The operating budget and capital expenditures budget will be paid for by collections, other administrative income, and church reserves. 

Our campus is over 40 years old.  Over 70% of our heating and cooling systems are over twenty years old.  Our Building Commission is evaluating the major maintenance and infrastructure issues that need to be addressed.  Right now the priority issue is heat and air system upgrades and replacements.  Church reserves and School Building Funds will be the funding sources for this project.  

Over spring break, one of the issues the Building Commission recommended was accomplished.  This was the installation of a new lighting system.  This system has greatly improved the lighting and is estimated to recoup the cost in a couple of years!  

Each year, we anticipate drawing upon church reserves to take care of capital needs.  As we do so, we need to be able to replenish these reserves for future campus needs.  As you review your annual family budget, please consider increasing your contributions to Christ the King Catholic Church.  Your increase in giving will help pay for the major maintenance and infrastructure needs of our building and grounds that serve to house our Masses, ministries and faith community. 

These are tough economic times.  By helping others through your volunteerism and financial support, our faith tells us that God will continue to care and provide for all of us.  Please prayerfully consider increasing your contributions to both the Offertory and Vision Fund, or making a one-time gift to the Church.  God Bless you for you continued support. 

Questions or inquiries are always welcome.  Email Jackie Kaufman / Finance Officer at