Understanding the New Financial Reports

As most are aware, on 1 July 2026, Holy Infant implemented a new account system – ParishSoft Accounting. A major part of the new accounting system was to change from cash accounting to accrual accounting.

Now with accrual accounting, we have prepaid accounts and move the funds from the prepaid accounts into income as the funds are spent or the planned activity starts. For example, all the funds for Faith Development fees were in a prepaid account, and the funds will move to income in September as the program starts on September 27th.

The categories listed in the monthly Treasurer Report are –
Total Offertory – All offerings at Masses (includes weekend, Holy Days, Christmas, Easter, etc.), mailed and online contributions.
Unrestricted Donations - All money given that does not properly belong in another category.   Items include votive lights, memorial flowers, wine, etc.
Earned Restricted Donations - All money that is contributed for a special purpose is considered a restricted donation and can only be used for the stated purpose. Maintenance & Repair and Charity & Justice funds are examples of the restricted funds.  These funds are moved from the restricted fund into income (earned) as the funds are spent on the restricted purpose.
Other Ordinary Income – Money received for Religious Education Fees (Adult and Children), Facility Fees and Savings Account Interest.

If you have any questions, please contact John Martin (Director of Operations and Finance) or Amy Locke (Financial Services Administrator) in the Parish Office.