Operating Deficit Still Large in New Fiscal Year Report

St. Joseph Parish posted an approximately $111,000 operating deficit for the fiscal year that ended on June 30, 2022.

A three-year summary  shows a chronic annual operating deficit in six figures.  And this year’s comparatively lower deficit is somewhat misleading as a federal COVID-19 payroll protection program received forgiveness in 2022, but the dollars for the original loan were received and spent in the two previous fiscal years.

In response to the deficits and concerns about exhaustion of the parish treasury in several years, the parish finance council has been active in authorizing payroll cuts and other expense reductions, including the closing of the parish Annex to the public.  Fund-raising has begun with regular food sales after Masses, and the donation of funds from our clergy’s assistance to St. Mary’s Parish, Watchung directly to our parish bank account.

The finance council and parish leadership are also preparing to engage the Diocese of Metuchen with our Facilities Strategic Plan, which call the parish to maximize the use of its properties through either improvements or relinquishment.

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