St. Theresa Parish Finance Council
Help Needed – Supporting Fr. Tim’s Request
The St. Theresa Parish Finance Council recently drafted the 2024-2025 fiscal year budget for the parish. After numerous iterations and discussions, the group arrived at the conclusion that challenges exist in matching our income from various sources, with expenses that have dramatically increased over the past few years. Fr. Tim Fairman, in his outreach at each Mass recently, indicated that over a five-year period, Sunday collections have increased 1.33% on average. However, during this same timeframe, inflation as measured by the Consumer Price Index (CPI) increased 3.96%. Specifically, in terms of our parish, personnel costs – which includes salaries, health insurance, taxes and benefits – have risen by 7.27% on average.
The Finance Council meets on a monthly basis to review the financial activity of our parish, and to advise Fr. Tim and staff how to be good stewards of your contributions. To this end (and besides the above-mentioned personnel costs), we must consider the amount spent on general administration, utilities, altar / liturgical items, and maintenance / repairs. Not unlike your own experiences, the committee realized how inflation affected spending over the past several months and years. While we are constantly pursuing ways to reduce costs, the next fiscal year has necessitated Fr. Tim’s outreach to our generous parish community in order to shore up our finances.
Therefore, as a group, we support Fr. Tim’s plea to our parishioners. Our analysis shows that with an additional $10 per family per week, we will accomplish our goal of a balanced budget. Should you wish to discuss any aspect of our finances, please feel free to contact Tom Galvan, Business Manager at 847.358.7760 ext. 105 or tomg@sttheresachurch.org. Alternatively, you may also seek out any Finance Council member – Jerry Sara, Tom Paar, Bill Maniscalco, Mike Towle, Bill Kubek, Tim McHugh, Kathy Sullivan, Lisa Iannuzzelli, or Tom Feifar – with questions, recommendations, or general feedback.
Thank you and May God Bless You,
St. Theresa Parish Finance Council
Financial Statements
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St. Theresa Parish Finance Council Members
Jerry Sara, Tom Paar, Bill Maniscalco, Mike Towle, Bill Kubek, Tim McHugh, Kathy Sullivan, Lisa Iannuzzelli, Tom Feifar
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Tom Galvan, Business Manager
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