ABCDEFGH
1
LAKES CATHOLIC PARISH
2
2017/2018 FINANCIAL OVERVIEW
3
4
INCOME
5
- Main income sources
6
* Collections at Mass
7
* Rent from units in Lagoon (8), Goodwin (2) and Stuart (1) Street
8
* Interest from term deposit with Catholic Development Fund
9
* Dividends and growth in Investments held with Macquarie
10
11
- Collections
12
* 1st Collection for support of Diocesan priests active & retired
13
* Received
$85,479
14
* Paid out
($85,479)
15
* Sustentation Fund
($12,822)
16
* Clergy Board of Mgnt.
($47,842)
17
* Direct expenses
($24,815)
18
19
* 2nd Collection
20
* Total received
$175,648
21
* CWF Levy for 2017/2018 $46,782
22
balance of CWF not collected in year $22,974
23
paid from Ancilliary Account held by Diocese
24
25
 * Rent
26
* 8 units 27 Lagoon Street
27
* 3 other units
28
Total rent
$238,483
29
30
* Interest received
31
* CDF accounts inc. Term Deposit
32
* Wrap cash account
33
Total Interest received
$28,159
34
35
* Dividend distributions
36
* Macquarie Wrap investment account
$47,119
37
38
* Other income
39
* Sacramental program, donations, commissions
$32,073
40
41
TOTAL INCOME (excluding pastoral)
$521,482
42
43
EXPENDITURE
44
45
* Main expenditure items:
46
* Employment expenses
$139,992
47
* Repairs & Maintenance
$115,598
48
* Insurance
$40,476
49
* Alter & Church (including Musicians)
$66,672
50
* Evangelization
$40,676
51
* Rental Property Expenses
$69,244
52
* Other smaller expenditure
$109,918
53
54
TOTAL EXPENDITURE
$582,576
55
56
NET CASH FLOW FOR 2017/2018
DEFICIT($61,094)
57
58
- The Wrap investment portfolio increased its market value over
59
2017/2018 by $42,239. As this gain is unrealised, it has not been
60
reflected in above Net cash flow in accordance with relevant
61
accounting standards. If taken into account, the net equity
62
position of the Lakes Parish would improve to a deficit of $18,855
63
64
- 2018/2019 Budget
65
* cash flow deficit of ($132,962) budgeted for reflecting
66
ongoing decease in collections and increase in expenses
67
* employment expenses increase to $173,731 allowing
68
for the parish secartary working full-time
69
* change in investment portfolio allocation to reduce
70
risk, more geared towards dividend cash distribution and
71
less investment growth to continues from last year with
72
total return factored in at 6% for dividends and growth.