How is The Parish Financed?

Part One

How is the parish financed?

How is the Diocese financed?

What is the 100 Club?

These are some of the questions that people may think about when faced with the issue of the day by day running costs of our parish and diocese. Over the next few weeks I wish with a 2 minute input at the end of the Saturday and Sunday masses to try to help us to understand how our parish is financed. The text of each presentation will be available on the parish website for you to read.

Our first question is how is our parish financed?

At the Immaculate Conception we have two main sources of income that make up the majority of the monies received. These two sources are the weekend collection and the 100Club. The collection can be supported by weekly giving as the collection bags are passed around or by a standing order with the parish.
Setting up a standing order is easy to do and ensures a steady income for the parish.

Another source of income is the participation in the Gift Aiding scheme, more about Gift Aid will be explained another day. A small amount is also raised by the use of the parish room and by mass intentions that are given and by stipends offered for baptisms, weddings and funerals. A stipend is a sum of money paid to the parish to help cover the expenses incurred in its running. At this parish the stipend does not go to the priest but is paid into the parish account from which an allowance is paid to the priest.

Apart from the collection,100 Club, Gift Aiding, mass intentions, stipends and the use of the parish room our parish has no other source of income.

So, our parish is financed only by the willingness of people to donate.

What responsibilities and duties of care have the Diocese in managing finances?
The Diocese of Hallam has a responsibility to ensure that all financial
administration carried out the name of the Catholic Church within its
geographic area is in accord with Canon Law and the legal requirements of the law of the land. 
Most of the monies managed by the Diocese belong to the
parishes. Some parishes are in credit and some are in debt. Those parishes in debt have borrowed money from the surplus credit of the other parishes this procedure is managed by the Diocese. 
It is important that parishes in debt pay back their loans to the Diocese as soon as possible. 
This procedure helps the parishes in the Diocese to borrow from each other to cover major capital costs and avoid taking loans involving interests from banks or other financial agencies and the risk of properties and assets being taken from the diocesan structure if the payment of loans comes into difficulties. 
When all the parish credit balances and debt balances are added up there is an overall credit. 
This credit balance is invested and the interest is used for the benefit of all the parishes.
The Diocese has its own accounts these accounts are resourced from legacies given to the diocese and from the annual assessment charged to each parish.
The assessment covers the running cost of the Diocese so that it can provide support and expertise in the area of finance, building maintenance, health and safety, legal requirements and obligations, the operation of our Catholic schools, the diocesan social care service, the tribunal (administration of Canon Law) the care of the sick and retired clergy, ongoing formation of adults, our share of the costs of the national Catholic Bodies and other services that are necessary for the running of the diocese in order to carry out its mission to help people in their relationship with God.
To conclude, the Diocese has the responsibility to ensure that all legal requirements are adhered to and that the financial resources within the Diocese are used correctly and wisely for the good of the local Catholic Church and its carrying out of its mission.  

The 100 Club
At the back of the Church every Saturday evening and Sunday morning you will find people sat at a table collecting monies from others and recording the transaction. What happens is people paying their weekly fees to the 100 Club.
The 100 Club was set up over 10 years ago to help raise the funds necessary to pay off the loan the parish had to take out in order to pay for the major building repair work necessary at the time. If the work had not been done the church, hall and house would have had to be closed down due to the condition of the buildings. 
The loan came to £350,000 a lot of money for a parish with little resources however, over the past ten years the 100 Club has raised 
enough money to help lower our debt to the parishes on credit to £166,000 as it stands now. Without the 100 Club the parish would have been in financial difficulties. 
So we have a lot to thank the people who help to run the 100 Club and to the members supporting it as well.
It is called a 100 Club because we need at least 100 members to help to maintain the steady flow of payments towards the debt and to provide the prize money as a thank you to the members. 
We currently have just over 100 members but more members will help to pay off the debt quicker and if the numbers increase and might give us an opportunity to increase the prize money! Each member pays £2 a week for a number. 
The draw takes place on the last Sunday of the month and the winning number receives £100 except in April and October when the prize is £500.
We aim to raise £12,000 a year, £2,000 goes towards the prize money and £10,000 goes towards the repayment of the loan. 
So if you are not yet a member of the 100 Club or have lapsed in your contribution please consider supporting us. 
Think of it this way, you are able to benefit from the use of these buildings thanks to the support from other parishes. It is only good manners to pay back what we owe. 

THE IMMACULATE CONCEPTION (St Mary's) 01709 363753 Clergy Fr Desmond Sexton Fr Leonard May Address The Presbytery 238 Herringthope Valley Road Rotherham S65 3BA Groups S.V.P., Lourdes Support Group, UCM, Stay & Play Schools St Mary's Primary Herringthorpe Valley Road S65 3BE St Bernard's Comprehensive Herringthorpe Valley Road S65 3BE