Newspaper Page Text
PAGE 4A
The Archdiocese of
Atlanta, Georgia
Parishes and Missions
Statement of Net Assets
(unaudited)
Year Ended
Assets
June 30,
1976
June 30,
1975
Cash in banks
$ 1.217,400
$ 1.045.805
Marketable securities and certificates of
deposit - at cost or market at date of gift
(market value of $963,040 at June 30, 1976
and $668,223 at June 30, 1975)
949.046
678,108
Accounts and notes receivable
58.810
43.096
Prepaid expenses
2,458
2.852
Land, buildings and equipment
Land and land improvements
3,270,225
3,226,231
Buildings
18,006,132
16,920,379
Furnishings and equipment
1,848,427
1,816,206
Automobiles
320.431
280.519
Total
23.445,215
22,243,335
Other assets
35,460
31,089
Total assets
$25,708,389
$24,044,285
Liabilities
Accounts payable and accrued expenses
$ 86,491
$ 77,659
Earnest money deposit received on real
sales contract
estate
110,000
-
Due to Administrative Offices - Archdiocese of
Atlanta
5.647,226
5.393.449
Total liabilities
5.843,717
5.471,108
Net assets of parishes and missions
$19,864,672
$18,573,177
Statement of Revenues, Expenses, and
Debt Reduction (unaudited)
Year Ended
June 30,
June 30,
1976
1975
Church
Operating revenues
Offertory
$4,608,593
$4,212,190
Donations
619,375
581,795
Special collections
732,797
649,962
Other
377.496
288.236
Total
6,338,261
5,732,183
Operating expenses (including assessments)
4.228.970
3.825.790
Excess of church revenues over expenses
2.109.291
1.906.393
School and convent
Operating revenues
Tuition
1,527,204
1,365,179
Other
124.248
98.843
Total
1,651,452
1,464,022
Operating expenses
2.144.971
1.991.160
Excess of school expenses over revenues
(493.519)
(527,138)
Revenue available for debt service
1.615.772
1.379.255
Debt service
Interest expense
362,366
368,199
Debt reduction
438.308
682.024
Total
800.674
1.050.223
Excess revenue over expenses and debt reduction
$ 815.098
$ 329.032
Note: Subsidies paid by churches to parish schools have been eliminated
from church operating expenses and school revenue.
Source and Disposition of Parishes and Mission
Revenues,
Expenses and Debt Reduction
Sources
Year Ended June 30,
1976 1975
Disposition
Year Ended June 30,
1976 1975
$9,000,000
8,000,000
- 7,000,000
- 6,000,000
5,000,000
4,000,000
- 3,000,000
2,000,000
- 1,000,000
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School - other
School - tuition
Church - other
Church - offertory
Balance available for
improvements, expansion,
etc.
Debt reduction
Interest
School - other
School - salaries
Church - other
Church - salaries
Church - assessments
In addition to the financial information relating to the Chancery
office, which was audited by our independent accountants, we also present
statements of net assets at June 30, 1976 and 1975 and statements of revenues,
expenses and debt reduction for the years ended June 30, 1976 and 1975 of the
parishes and missions contained within the Archdiocese of Atlanta.
It is important to call attention to the fact that these accounts
were not audited by independent accountants, but were compiled from the
records maintained by the various parishes and missions.
As reflected in the statements of net assets, total assets of $25,708,389
increased by $1,664,104 during the year ended June 30, 1976. The major portion
of this increase is reflected in purchases of land, buildings and equipment.
Land, braidings and equipment accounted for 91% $(23,445,215) of the total
assets of parishes and missions at June 30, 1976.
Parish debt totalled $5,647,226 at June 30, 1976, a net increase of
$253,777 when compared with the previous year. These debts represent obliga
tions to banks and other lenders from whom funds were borrowed for construction
of buildings, purchase of equipment and/or acquisition of land.
Source of revenues and disposition thereof on a percentage basis are
set forth below:
Sources Disposition
Year
Ended
Year
Ended
June
30,
June 30,
1976
1975
1976
1975
Church
Church
Assessments
157.
167.
Offertory collections
587.
597o
Salaries
11
11
Other
27
26
Donations
8
8
School
Salaries
19
20
Other
14 ,
13
Other
8
8
Debt service
School
Interest
5
5
Debt reduction
5
9
Tuition
19
19
Balance available
for improvements,
Other
1
1
expansion, etc.
10
5
100%
1007.
1007.
1007.
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