Proposal by Jim Kastanis - January 31, 2010

Special General Assembly
Jan. 31, 2010

I have reviewed the revised budget for the special general assembly to be presented today, January 31, 2010, and have made the following observations.

Page 7 Revenue Section:
The stewardship was increased $29,250 (585,000-614,250)
Greek School: $10,000 ($7,000-17,000)

Page 7 Expenses Section: Salaries & wages decreased $29,314 (526,434-497,120)

Utilities: Decreased $44,000 (135,000-91000)

Repairs & Maint.: $2700 (90,000-87,300)

Payroll Taxes: Decreased $3,401 (69,577-66,176)

Retirement non-clergy: Decreased $6519 (6519-0)

Greek School Supplies: Decreased $191 (700-559)

Donations $150 (750-600)

Choirs & Cantors: $250 (750-500)

This adds up to a total decrease of $86,525 or 7.15% while the revenue side increased $29,250 or a total adjustment of $115,775. This still leaves a deficit of $205,211 and if you correct the Greek School account by $10,000 it increases the deficit to $215,211.

I therefore propose this assembly consider a motion to cut the Archdiocese Commitment 50% or $69,624; Priests salaries 25% or $69,156; Priests Auto expense 25% or $5,850 for an additional cut of $144,630. This puts our deficit now at $215,211-144,630 to$70,581. Now add the Parking and Apartment income of $ 205,211we end up with a surplus of $134,630 which enables us to replace the retirement benefits and salary reductions to our non-clergy employees and continue to keep our doors OPEN to both churches for all activities we currently have.

Jim Kastanis