Parish Financial Report through August 2025

August actual Offertory as up $39,229 / 12% compared to last August. However, this year August had five weekends vs. last year only had four. Comparing week nine totals to last year, YTD Offertory is off by $6,415 / down by 0.9%, and behind plan by $9,004.

After 27 weeks of using the TipTap devices on the collection baskets, we have had 2,399 taps against the basket devices which yielded $26,330 in donations. This translates to an average of $4,691 per month. Since the initial rollout of the devices with the Kiosks, we have received a total of 2,987 taps resulting in $34,514 in TipTap donations. TipTap does not appear to have impacted our weekly basket and envelope collections.

Faith Direct Update: Faith Direct runs on a calendar year, which coincides with IRS requirements for filing charitable deductions. YTD for calendar year 2025, donations through Faith Direct totaled $1,679,860, up $8,489 from January to August last year. We currently have 1,672 families enrolled as recurring donors.

Below is a list of the key drivers for some of the expense overruns noted in the summary tables.

• Church
  • Total Income Closed at 22.5% of total Plan. Key drivers for the increase were August having 5 weekends this year and the settlement of allocation payments from the schools and Columbarium for shared staff and expenses. Several allocation transfers will carry over into September to preserve positive cash flows for the sending budget areas.
  • Word – With summer camps and programs now complete, we are getting back to a normal spending pattern. Closed at 16.5% of total budget.
  • Worship – Closed at 12.4% of total budget (which is very small).
  • Service – Closed at 10.7%.
  • Personnel – Closed at 13.4%. The personnel budget represents 46.2% of the overall Church expense budget.
  • Operations – Closed at 15.6% of budget
  • Plant – Key drivers being new year landscaping prep and cleanup and the purchase of the maintenance truck. We had $10,000 in designated donations for the truck resulting in the final budget hit of $13K. – Closed at 29.5% of total budget.
  • Assessments and Subsidies – Closed at 15.6%. Assessments and Subsidies are calculated off the prior year’s final Offertory total.
  • Overall total expenses Closed at 17.5% of total expense plan.
• TFS
  • Total Income Closed at 19.2% of total Plan. Along with 2025-2026 registration fees being transferred to the operational budget, August also started to receive tuition for the new school year (full year, first trimester, and monthly payments). The bulk of the tuition payments (full year and trimester) are posted to the balance sheet. On a monthly basis, we make a transfer of “earned” tuition to the operating budget to cover actual expenses.
  • Education – Closed at 17.4% of total plan. Total Education Wages & Benefits are at 15.8% of Plan. Reminder, Wages and Benefits represent 76.8% of the total TFS expense plan.
  • General Office – The start of the school year is always expense heavy as software and subscription renewals come due and supplies for the new Chromebooks are purchased. Additionally, TFS transferred $204,114 to the Church to cover its Labor allocation expense for the year. Total office expenses Closed at 62.6% of plan.
  • General Special Projects – The first payment for the mosaic cross was paid in August ($27,375). Closed at 815.7% of plan, which had minimal expense planned ($3,497). As approved by the Finance Council and Fr. Chris, the cross expense will be covered by funds from General Savings.
  • General Plant – Utility allocations were paid to the Church, totaling $58,894. Closed at 12.4% of plan.
  • Auxiliary Services – Closed at 2.3% of plan. Most of these expenses are related to student activities and school has just started, expenses are minimal.
  • Overall total expenses Closed at 19.4% of total plan.
• Pre-School
  • Total Income Closed at 38.0% of total plan. Along with 2025-2026 registration fees being transferred to the operational budget, August also started to receive tuition for the new school year (full year, first trimester, and monthly payments).
  • Total expenses Closed at 16.1% of total plan. Wages & Benefits Closed at 13.3% of plan. Reminder, Wages and Benefits represent 73.8% of the total Pre-School expense plan.

• Columbarium
  • Total Income Closed at 20.9% of total plan. Niche sales continue to exceed plan expectations.
  • Total expenses Closed 2.3% of total plan. Bulk of the expense associated with purchase of additional urns.

The tables below provide a summary of what you will find as you review the detailed August Summary Report. To make this information easier to digest, we have added “% of FY Budget” column which compares the “YTD Actual” totals to the FY budget targets. We also have color coded the YTD Difference totals. That column contains the difference between the YTD Actuals vs. the YTD Budget. Red flags differences in the wrong direction; Blue flags positive differences:

School enrollment numbers represent the current status for the new school year.

Internal Loan:

• TFS
  • 2026-2026 scheduled payment will be made in September.
  • Total outstanding balance of $233,792; Target Payoff in 7 yrs. / 2032
  • Student Assistance Endowment

Respectfully submitted,

Rob

Robert C Neppel

Director of Finance & Planning

St. Francis of Assisi Catholic Church

11401 Leesville Road

Raleigh, NC  27613

(919) 534-4846 / (919) 870-1790 (Fax)

robert.neppel@stfrancisraleigh.org