Direct Archdiocese District Finance Committee Update

Transcription

1 Direct Archdiocese District Finance Committee Update Clergy Laity Assembly Meeting March, 10, 2012 Nick Sialmas Finance Committee Greek Orthodox Archdiocese of America Inc.

2 Items to report Allocation Update Report Budget Review Stewardship Survey Summary Data Update Parish Management Software Initiative

3 Committee Responsibilities Implement Total Commitment Program Set Deadlines and Coordinate Participation and Distribution of Allocations Hears and Decides Appeals Assists those Parishes in Arrears through the Compliance Process (Program formulated at the 2006 Clergy-Laity Congress held in Nashville, TN and started January 1, 2007)

4 As of the end of February, 35 or 54% of our parishes are up-to-date One of the steps in the Compliance process is for audits of Parishes. To date 2 parishes have been audited by the committee

5 We anticipate achieving 100% in 2012 Program anticipates annual commitments be paid in 12 equal monthly installments. 2% interest on the arrears in excess of 60 will be added to the monthly statements. (We ask all Parishes to bring themselves up to date or at least be no more 60 days in arrears)

6 Program anticipates annual commitments be paid in 12 equal monthly installments. 2% interest on the arrears in excess of 60 will be added to the monthly statements. (We ask all Parishes to bring themselves up to date or at least be no more 60 days in arrears)

7 Schedule of 2012 Important dates March 30, 2012 Cut off for all Appeals for 2012 May 15, 2012 Initial Deadline for submission of 2013 allocation data to DAD Finance Committee (Allocations will be increased FIVE PER CENT (5%) for worksheets received after this date, UNLESS AN EXTENSION HAS BEEN APPROVED PRIOR TO THIS CUT OFF DATE.)

8 Schedule of 2012 Important dates (cont.) June 15, 2012 Deadline for submission of 2013 Allocation Data to DAD Finance Committee (NO worksheets will be accepted after this date. Parish allocations will be increase TWENTY FIVE PERCENT (25%) above prior year s allocation)

9 Schedule of 2012 Important dates (cont.) October 30, 2012 Deadline for filing appeals for 2013 Allocation November 15, 2012 Appeal Conferences for 2013 (Tentative) December 1, 2012 Final Results/Allocations for 2013 will be mailed. December 31, 2012 Deadline for payment of 2012 Allocation

10 2011 Results Achieved 100% of Allocation for our District District Allocation for 2011 was $2,387,876 District Received in 2011 was $2,416,618 By December 31, 2011 Total District Received for 2011 was $2,453,982 By January 1, 2012 Bonus for Achieving 100% to is $68,673 to be applied to 2012 Budget All but 3 Parishes Completed their 2011 Commitment The committee has met with those parishes and are working with them to bring them current

11 Total Commitment Allocation for $2,490,318 Budget for 2012 is - $622,579 (This represents 25% of Total Commitment Allocation) Anticipated Expenses for 2012 is - $585,400 This represents $37,179 under Budget Bonus for 100% Allocation Collected - $68,673 Total additional funds available for District $37,179 + $68,673 is $105,852

12 2013 Proposed Budget: Total Commitment Allocation for $2,493,740 Proposed Budget for 2013 is - $623,435 (This represents 25% of Total Commitment Allocation) Anticipated Expenses for 2013 is - $636,151 This represents ($12,716) over Budget Assuming Bonus for 100% Allocation Collected - $49,875 Total additional funds available for District ($12,716) + $49,875 is $37,159

13 2014 Proposed Budget: Total Commitment Allocation for $2,543,615 Proposed Budget for 2013 is - $635,904 (This represents 25% of Total Commitment Allocation) Anticipated Expenses for 2013 is - $651,220 This represents ($15,316) over Budget Assuming Bonus for 100% Allocation Collected - $50,872 Total additional funds available for District ($15,316) + $50,872 is $35,556

14 Stewardship Survey Summary Update dues parishes Number of Members 6,728 Total Stewardship Contribution - $2,025,553 Total Income $12,491,401 Percent of Income 16% Average Contribution - $ Stewardship parishes Number of Members 11,487 Total Stewardship Contribution - $6,497,805 Total Contribution - $20,185,969 Percent of Income 32% Average Contribution - $ Total Parishes Number of Members 18,215 Total Stewardship Contribution - $8,523,358 Total Contribution $32,064,014 Percent of Income 26% Average Contribution - $468

15 Parish Management Software Initiative Update Background tool to assist Parishes in managing their Stewardship/ Members and Finances Status Vender selected Parish Data Systems Currently working with PDS to create more of an Orthodox view Year 1 costs to be covered by the Archdioceses Across the Archdiocese Year 2 and going forward support costs to be covered by the Direct Archdiocesan District for the Parishes within the District Currently 2 controlled pilots are underway; one in Florence, SC and one in Scottsdale AZ Second Phase of pilot (early adapters) tentatively to begin early April Controlled rollout (second level of early adapters) tentatively to begin in early to mid-may) (Moving forward to next phase depends upon the success of the previous one)

16 QUESTIONS Contact Info: Nick Sialmas Tony Brigis