Last Updated: Tuesday - 01/04/2011

WCR has banner year, financially

The WCR has completed its most financially successful year ever, ending with a surplus of $73,292. The paper was fortunate to keep expenses at virtually the same level as the previous year while our revenue grew by more than $35,000.

The large surplus is a sharp change from only a few years ago when the newspaper annually ran a small deficit.

The main growth in revenue last year came from the parish assessment plan, the amount the archdiocese assesses parishes to pay for the WCR. In return, all parishioners are entitled to receive the archdiocesan newspaper.

In the last fiscal year, that averaged out to a cost of roughly $14.35 per subscription. Few subscriptions can be purchased today at such a low price. (We have even managed to keep our individual subscription price for people outside the archdiocese down to $25, GST included.)

However, it should be noted that our expenses were kept in line mainly because one employee was sick for six months (his salary was covered by our employee benefits program) and one position was vacant for a month.

This year, we plan to add a new position, a news editor, who will help the managing editor publish the weekly newspaper. Paper prices remain unpredictable. We have boosted the number of issues from 43 to 44 per year at an additional cost of about $9,000. And we hope that our employees all remain healthy.

Because of all that, we expect that our surplus will be sharply reduced from last year's level.

We continue to publish an annual financial accounting because we believe we are accountable to our readers not only for the quality of the newspaper we publish but also for the use of the money, much of which comes from the Sunday collection plate.

We expect to produce a newspaper that, if anything, improves in quality and better meets the needs of our readers. Please remember the WCR in your prayers for we depend, ultimately, on the grace of God. And if you are able to make a donation using the envelope provided with this issue, it would be most gratefully appreciated.

Glen Argan

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