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Archives: February 2021
We dedicated our newest icon of Saint Josephine Bakhita today, by local iconographer Deb Korluka. We also premiered Bakhita Hymn, a new composition by our composer-in-residence, Donald Krubsack, Ph.D. Krubsack hopes the "musical intent and message [of the hymn] is something that can live in the hearts of the people who sing and hear it." May this hymn help us enter more deeply into the life and holiness of Saint Josephine Bakhita.
Due to the impacts of COVID-19 on all of us and on The Basilica, we share an update on The Basilica’s financial situation with Laura Lidberg, chair of our Finance Committee, and Anne Kane, Director of Development. As of December 31, six months into our fiscal year, year-to-date income is 2% behind budget and 8% lower than last year. Expenses are 14% under budget. The parish’s annual budget for income is almost $4 million.
Thank you for your financial support to empower the mission of The Basilica of Saint Mary. Your generosity allowed us to continue serving both the parish and broader community. If you have not done so already, we encourage you to make a gift commitment to The Basilica Fund for 2021.
This Sunday, February 7, we will dedicate our newest icon of Saint Josephine Bakhita. And, as we have done in the past, The Basilica also commissions a special piece of music, which is premiered when we dedicate the icon. In preparation for the dedication of the icon of Saint Josephine Bakhita on Sunday, our Composer-in-Residence, Donald Krubsack, Ph.D., gives us insights to his newest composition.
As we close out 2020, we are halfway through The Basilica’s fiscal year. 2020 was challenging in many aspects: masses were primarily celebrated online; baptisms, funerals, and weddings looked different than the sacraments we have come to expect and the sense of community we share when we come together as a parish moved online, as with so many of our other interactions. Similar to the broader community, The Basilica has also faced fiscal uncertainty and challenges.
Father Bauer and the staff have worked tirelessly to maximize the resources we have and have made decisions with the future of The Basilica at the forefront. They have continuously challenged how they operate and how The Basilica can best serve this faith community. Six months into our fiscal year, actual revenues versus budgeted revenues are 2% behind plan and 8% lower than the prior year. Not knowing what the next six months hold, we estimate actual revenues will continue to lag budgeted revenues. While our projections have us meeting our annual budget, this is in part due to our receipt of a CARES Act Paycheck Protection Program (PPP) forgivable loan. Without the PPP loan, we anticipate we would have needed to draw on our reserves. Without the PPP loan, projected expenses would exceed revenue. We are not eligible for the second round of PPP loans.
The Finance Committee and Parish Council meet monthly to review the financials. We do not take lightly this responsibility. As the chair of the finance committee, I am always impressed by the ideas our members and the staff bring forward as we discuss the fiscal challenges facing The Basilica. We thank everyone for the financial support they have provided to date and ask for prayerful consideration of support for the remainder of the fiscal year.
Parish Finance Chair
The Basilica of Saint Mary