2022 Financial Review

Giving was approx. $1,458,000:

• $85k under budget

• $31k down from

• 2021 giving Continues downward trend (see chart)

In spite of lower-than-expected Giving in 2022, we were able to finish $23k ahead of budget.

This was the result of several factors:

• An intentional effort in our school to recruit more students resulted in increased enrollment/tuition (+$113k). Income from The Garden was +$13k to-budget from increased rental income.

• Salaries were $30k (<2% of total salaries) over-budget, offset by being $98k underbudget on accompanying benefits. An increase in the cost of gas/electric led to Utilities/ Maintenance being $32k (~13%) over-budget. Expenses for The Garden were up $26k due to increased personnel wages resulting from the increased number of event rentals.

In reflecting on Giving at Holy Cross over the past 10 years, we see a downward trend, even before COVID. Based upon our calculations for anticipated Giving in 2023, we are expected to follow this trend if nothing changes. In an effort to correct this, we will be working to establish a Ministry & Mission Team (MMT) in the coming months whose focus is Stewardship. As followers of Christ, we want to be good stewards of the resources that God has entrusted to us. If you would like to serve on this team, or if you have ideas of how we can improve Giving at Holy Cross, please let me know!

Blessings to you, in Christ our Savior!

~ Pastor Dan Harrington

Thank you for your faithful support of the ministry of Holy Cross.