ANNUAL PARISH FINANCIAL OVERVIEW – 2025
Dear OLA Parishioners,
At our Masses over the weekend – October 25-26, 2025, members of the finance council provided you an overview of our financial performance for the past fiscal year, ending in June 2025.
I would like to thank you, our parishioners, for your continuing support, providing the majority of our financial support. You gave over $1 million in offertory collections, gifts, and donations. This pays for our ongoing parish salaries and operating costs, our social events, and our many parish ministries and local charities such as the St. Vincent de Paulfood locker, our youth ministry, the Carmichael Homeless Assistance Resource Team, Catholics in Recovery, and the Sacramento Life Center.
Our operating profit or surplus was $47K and this was applied to our Affinito Hall debt to the diocese. We also received $100K of pledge donations from our previous capital campaign which were applied to our loan. Our loan balance at the end of June was $2.8M which is only slightly less than what we owed last year due to the interest we incur.
We hope to be launching another capital campaign to accelerate payment of the debt and provide other enhancements to our school and parish. More information about that campaign will be communicated as we get closer to its launch. I realize your dollar doesn’t stretch as far as it once did and we are humbled by your continued generosity. So, again “thank you.” Also, my thanks and appreciation for the finance council and the staff and volunteers at OLA for your generous and gracious support. Thank you.
Father Eduino Silveira
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The Parish Finance Council is a consultative body of lay persons appointed to advise the Pastor in matters pertaining to the financial affairs of the parish.
The Code of Canon Law in Canon 537 provides that… “Each parish is required to have a Finance Council which is regulated by universal law as well as by norms issued by the Diocesan Bishop; in this council the Christian faithful, selected according to the same norms, aid the Pastor in the administration of the parish goods.”
The Finance Council meets at least quarterly. It assists with budgeting and financial reports to the diocese and makes an annual financial report to the parish community.
We invite you to review our bylaws which may be found by clicking here.
Our Lady of the Assumption Parish Finance Council:
Chair: Joe Selewicz