'“financial viability bulletin announcement” March 21& 22

Opportunities & Challenges Listening Sessions
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 Financial Viability Bulletin Announcement

Before the next Listening Session, which will occur after Easter, the PFAC will be looking at the 5th viability metric which is the entire parish family’s financial viability. The information gathered after analyzing the following 6 data points will be shared with the parish family prior to the upcoming Listening sessions.  These necessary details are being formed into a combined report for your review and will soon be available.

1. Total Parish family income: This is how much money comes into the parish from all sources. The goal is for a parish family to account for all the sources and determine which are consistent every year or one-time.

2. Ordinary income: Describes money that comes into the parish from sources that are considered ordinary like weekly collections and holy day collections. It does not include items like rental income or one-time bequests. The general goal is for a parish family to have an ordinary income of $1 million or more.

3. Parish margin: This is how much more (or less) the parish brings in each year over what it spends. The goal is for parishes to have a positive margin, meaning less is spent than is brought in each year.

4. School margin: Just as the parish needs to show a positive margin (less is spent than brought in), so does a school. Parish financial support is included in both parish and school margin calculations.

5. Debt: This is raw debt. While debt is often required for parish family projects, the goal for a parish family should be to actively pay down any debt.

6. PRF balance: A PRF, Parish Revolving Fund, is a deposit and loan fund operated by the archdiocese for parishes and schools. The PRF balance indicates overall financial health and the ability to invest in routine capital, maintenance, and respond to emergency expenditures. There is no set dollar amount goal for this metric, but PRF balance should be sufficient to reach the PRF to insured value ratio described above.