MESSAGE FROM THE BUSINESS MANAGER
Saint Rita Rockford
2020 to 2021
Financial Results
The parish fiscal year ending 6/30/2021 is reported on the attached pie charts. The income and expenses amounts are very similar to previous years by percentage, except for one major difference. This past year we had to withdraw the equivalent of approximately $141,000 from savings to pay for our expenses. This is after we reduce our spending by approximately $250,000 from previous pre-Covid years. We knew going into the year that income was at risk, and on the one hand, we actually did better than we feared. Our savings, fortunately, are adequate enough to absorb this loss, thanks to many years of prudent fiscal management and saving for that “rainy day,” but as we plan for this year, we will continue to be cautious and conservative and be the best stewards of our resources.
The school’s year-end numbers are reported on the second set of pie charts. Again these numbers are, in general, similar to previous years in as much as tuition remains the major source of income and salaries and benefits the major expenses. But closer comparisons will show the lack of, and reduction of, other activities which were eliminated due to Covid; Field trips, Race for Education, and Athletics, to name a few. The school is very proud that they provided classroom instruction throughout the year.