Click HERE to see a spreadsheet showing the monthly net cash flow for fiscal year 2018. Also shown are offertory, total receipts, and total expenditures for each month. Cash-flow figures are broken down between those related to the Capital Stewardship Campaign, Growing our Faith, and general (everything else). Like most households, our cash flow varies from month to month. Some types of income and expenditures are very regular, some highly seasonal, and some sporadic. The spreadsheet indicates the number of weekend deposits in each month to help explain variations in offertory and the number of (bi-weekly) paydays in each month to help explain variations in total spending.
Our year-to-date general net cash flow is looking great. However, one reason for our positive YTD net cash flow is that we have been managing without a youth director. Thankfully, we now have a new youth director. Another reason we're looking so good is a timing difference: we have received the income (CSA rebate) to pay for our new lighting controls (total cost $31,100), but we have yet to record the expense. We can also thank our staff for avoiding unnecessary spending and our congregation for making sacrifices to support the parish. A sizable net cash flow at the end of the fiscal year will help us with the inevitable large plant projects that arise. For example, we need to replace the flat roof (but not the shingled roof) of the church soon, and Corpus Christi School needs to replace its shingled roof.
Just in case you are wondering why October's total general income is less than our offertory for that month, here's the explanation. In September we received a large restricted donation, which was booked as a donation and thus is included in September's total income. However, in October we reclassified that donation to a deferred revenue, which is a liability. We are recognizing the income from the donation as we fulfill the purpose of the gift. This may seem confusing, but this accounting approach helps to better match our restricted income to the expenses it covers.
Our July spending from the capital campaign consists primarily of our share of the cost of parking lot repairs at Corpus Christi School. Our October spending from the capital campaign includes the cost of a heavy-duty heat tape near the Blessed Sacrament Chapel, to resolve persistent leaking to to ice damming.
The staff works hard to manage our resources well. Check back here to see how we're doing throughout FY 2018. It takes a while to close the books for the month, so results for each month will appear near the end of the following month.
Those familiar with basic accounting principles should note the following. Our parish uses the accrual method of accounting. For the results presented here, we use the term "cash" loosely. Thus, "cash receipts" consist of all income recognized under the accrual method. "Cash expenditures" consist of all expenses recognized under the accrual method, less depreciation expense, plus capital outlays.