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St. John the Baptist Parish A Catholic Parish of the Archdiocese of Cincinnati |
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St. John the Baptist Parish A Catholic Parish of the Archdiocese of Cincinnati |
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Parish Annual Fund Drive Campaign to Reduce the Debt |
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Campaign Questions & Answers |
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Quick Links to Questions & Answers on this page:
Why are we using the Annual Fund Drive to pay down the debt?
Is the Archdiocese requiring that we conduct a debt reduction campaign?
Will my weekly collection contributions be a part of the Annual Fund Drive?
If we save money by paying down the debt, what will the money saved be used for?
Why are we using the Annual Fund Drive to pay down the debt? With this success of the Annual Fund Drive in the past few years, parish leaders believe that this is the best vehicle to raise funds to reduce our debt. Therefore, all funds raised through the Annual Fund Drive last year (2008/2009) and this year (2009/2010) will be applied to our parish debt.
In addition, the Archdiocese has offered us an incentive to pay back our debt and save money in the process. Between now and June 30, 2010, all funds raised to benefit debt reduction are exempt from the annual Archdiocesan Assessment of 8% (this assessment is charged to all parishes in the Archdiocese and helps to fund the downtown offices).
Is the Archdiocese requiring that we conduct a debt reduction campaign? No. The Archdiocese has never came to us and said, “You must conduct a debt reduction campaign.” They are offering the “Assessment Exemption” incentive to all parishes that have debt throughout the Archdiocese. The decision to move forward with conducting the Annual Fund Drive to reduce our debt was made by the members of our Parish Pastoral Council.
It is important to note that the money we borrowed from the Archdiocese is actually money from other parishes. Parishes that have surpluses invest these funds at the Archdiocese. These investment funds from other parishes are the funds that Archdiocese uses to make loans, such as the loan we took to complete our building project in the late 1990s.
Will my weekly collection contributions be a part of the Annual Fund Drive? No. Gifts to the annual fund drive are over and above your weekly collection contributions. In addition to a gift towards the annual fund drive to reduce our debt, we need everyone to continue their regular weekly collection contributions to cover the costs associated with operating the parish and its ministries.
If we save money by paying down the debt early, what will the money saved be used for? Being debt free is the ultimate financial goal for the parish. In the short-term, money saved due to the “Archdiocesan Assessment Exemption” would be used to increase our Emergency Reserve Fund for unexpected expenses, and also, to apply more funds to the overall debt until it is paid in full. In the long-term, reducing the debt would allow greater flexibility with implementing our parish strategic plan and pursuing future church ministries, services, and building projects when needed.
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Campaign Links |
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