Home > About St Irene's > Finance Council

Finance Council

The Finance Committee meets bi-monthly and guides the financial aspects of the parish.

Income Sources

The parish income is derived from the following four major sources: Weekly & Monthly collections, Grand Annual collection, Bequests & Gifts, Religious Education Tuition & Fees, as well as a number of smaller sources including sacramental offerings, fundraising events, interest, and more. We are thankful for all contributions and appreciate the generosity of our parishioners. There is a distinct seasonal variation in income, with a dip during the summer months, when many parishioners are away. If you would like to help St Irene's achieve a more steady stream of income throughout the year, signing up for electronic giving is a great way to do that, as it will keep your contributions coming at a steady rate.

Expenses

The primary categories of expenses are Salaries & Benefits and Clergy Stipends, followed by Parish Office, Facilities, Pastoral/Liturgical, and Archdiocesan Assessment. The vast majority of the expenses are non-discretionary. We have to pay salaries and keep the heat on, naturally. St Irene's has a strong spirit and history of volunteerism, and a comparatively small paid staff. We work to manage parish funds as wisely as personal funds.

For years, the philosophy of the Finance Council has been to cover the operational expenses with the income from Weekly & Monthly collections, whereas the income from the Grand Annual collection is usually saved up over a number of years to pay for rare big ticket items, like refinishing the roof or replacing the heating system. The economic crisis of late 2008 precipitated a decline in giving, and for some years St Irene needed to spend both the Weekly & Monthly collections, and the Grand Annual collection, to cover operational expenses. In other words, we were not building up the rainy day fund. In 2013, Fr Tom asked parishioners via an Increased Offertory Appeal to increase the Weekly & Monthly collections enough to cover the operational expenses, so the Grand Annual collection can again be added to the rainy day fund. We know those rare expenses will come, we just don't know when. So far, parishioners have responded generously, and St Irene's is on track to meet Fr Tom's financial goal.

Electronic Giving

The parish encourages electronic giving and invites parishioners to consider this method. Though giving is naturally voluntary, and though you can stop any time you want, the mental consequence of giving electronically is that the expense is moved from your discretionary budget to your non-discretionary budget. And that's a fitting match for the unconditional love Jesus Christ has for us. Visit the electronic giving page for more information.

Bequests and Gifts

If you would like to include St Irene's in your will, or otherwise give a special gift to the parish, please visit the Bequests and Gifts page for more information. The parish is deeply thankful to anyone considering making special gifts to the parish.

Financial Reports

For a copy of the most recent complete year's financial report, please visit the Financial Reports page.

Questions

If you have questions for the Finance Council, please contact us by e-mail (finance@stirenes.org) or call the office.