On behalf of the Finance Council, we share with you the financial highlight report for the fiscal year ended August 31, 2019. The full financial statements of the Parish were recently presented to and approved by the members of the Finance Council and submitted to the Archdiocese Finance Office.
The financial condition of the Parish continues to improve. Under the prudent and diligent management of our Pastor and guided by the Finance Council, the outstanding debt to the Archdiocese has been further reduced. Weekly contributions including WeShare, which fund our normal operating expenses declined approximately 6% from an average of $17,300 to $16,300. Participation in WeShare, our electronic giving program increased an average of $800 per month while in-pew contributions declined an average of $5,200 per month. We continue to see meaningful reductions in our normal operating expenses to keep pace with reduced operating revenues. In addition to our operating income, we raised $125,000 as of August 31, 2019, in restricted donations for capital improvements to the Church. These proceeds have been used toward the replacement of the roof, which began in the fall of 2019 and is earmarked for the re-siding of the main Church in 2020.
Our Parish continues to make significant progress toward repaying its outstanding liabilities owed to the Archdiocese. In 2012, the interest-bearing debt was over $2.5 million, which consisted of loans and outstanding bills from the Parish and the former school. Our debt is now slightly more than $56,000, excluding our non-interest bearing subvention balance. St. John’s has had a very active year. Our Lenten and Thanksgiving Outreaches, Breakfast Run, Food Pantry, Blood Drives, Bible Study Program, St. Patrick’s, San Giuseppe, St. Anthony and Padre Pio Masses, Living Rosary, Eagle Scout Projects, May Crowning, Animal Blessing, Mass of the Anointing, Angel Gift Tree and the re-dedication of Our Lady of Life garden make for a vibrant and welcoming Parish Community. Parishioners are consistently invited to live their faith here at St. John’s.
Finally, the Finance Council would like to thank all those who continued to so generously support your Parish. We would also like to thank Fr. Caruso for his leadership and oversight of the spiritual and financial well-being of the entire St. John’s community.