Last Updated: Friday - 09/24/2010
Week of September 17, 2007
Despite early concerns, paper posts a surplus
Postal subsidy remains stable, advertising revenues soar
The Western Catholic Reporter had a successful 2006-07 fiscal year, posting a surplus of $49,440.
Yet, when we began that fiscal year, things looked far from bright. We were projecting a significant deficit based in part on the expectation of a decrease in the federal government's postal subsidy.
Instead, our revenues, especially in advertising, exceeded expectations and our expenses were well under budget.
The big break came with the federal government agreeing to hold the postal subsidy at close to the current level for up to two years.
Ottawa has been subsidizing the mailing rates of newspapers and magazines since before Confederation, convinced that such publications are an important part of both democracy and Canadian culture. We will continue to urge the federal government to continue the subsidy at current levels.
In other areas, we were able to hold the line or even reduce spending without reducing the quality of the newspaper or salaries and benefits to our employees.
On the income side, our advertising revenue soared almost $50,000 above budget.
As well, our readers donated more than $32,000, by far the highest level ever. Many readers tell us how much they appreciate the WCR and hundreds of them show it by financial donations to the newspaper.
In recent months, we have given a special encouragement to parishes to update their mailing lists by adding new parishioners and helping us delete the names of those who have died or moved away.
Several hundred families are now receiving the WCR who did not previously receive it. This represents no added cost to the parishes as they are assessed a fixed amount based on their ability to pay.
Deepening the faith
For many families, the WCR is the only Catholic reading material that regularly comes into their homes. When a family receives a Catholic newspaper, it increases their ties to the Church and - if we are living up to our mission - it helps them deepen their faith.
Sending a quality Catholic newspaper to Catholic families is an act of stewardship that bears fruit through the stronger commitment of people to their Church.
- Glen Argan
Letter to the Editor - 10/01/07
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