Since this is my first Treasurer’s Report to be published in the Ascension Magazine, I would like provide you with some budget facts for 2016. This year the operating budget for Ascension Cathedral is $1.68 million. This amount is significant, but our community is large and our facility is complex. There are many things that go into maintaining a parish of this size. Here are some of the items that stand out. In 2016 we expect to spend nearly $400,000 in maintaining the
physical property of the church campus alone. This includes utilities, maintenance and repair, security, and custodial services to name a few. We will spend over $600,000 for salaries (both clergy and support staff), insurances, administrative supplies, communications, transportation and telephone. Another $310,000 will go toward funding the operation of the annual Greek Festival. The remaining balance of our operating budget includes support of our ministries, choir, National Archdiocese and Metropolis financial support, and philanthropy among others. Of course we must fund the operation of the church and all that it does for our community. There are a few but very important income sources that we depend on. The most significant are stewardship, the Greek Festival, and facility
rentals including catering events and the Montessori school. Unfortunately, these income sources are not enough and each year we must withdraw money from our church savings accounts, primarily the Endowment fund, to cover our costs. This is just a brief overview to give you information that I will expand on in future issues of the Ascension Magazine. As the year unfolds I will provide you with progress reports on how our operating budget is doing and what we can expect as the year comes to a close.
Treasurer, Ascension Cathedral