on an ongoing basis? It sounds like your wife has done what she can on a regular basis while her sister stays out of state. If your SIL wants to play the "let's split the cost of the party hall rental game" then your wife should provide her with a summary bill for all the money that she has spent on their money and your SIL can pony up half the cost.
My Dad was one of 7 children and the youngest sister took the brunt of taking care of their Dad, Step-Mom and a couple of elderly aunts. My Dad and his brother, who all but one, lived out of state really appreciated what my aunt did and chipped in money to help her out because they knew that it took a lot of time to look after so many elderly relatives. They made sure that my aunt did not suffer financially for assuming so much responsibility. If your SIL is not there on the scene pitching in to help Mom, then she needs to be pitching in financially. Don't let her guilt trip your wife into spending money that you don't have. Assistance is not always tied solely to money. Your wife has probably invested a lot of time taking care of her mother and that will probably not change has your MIL ages as demands on her time might grow.
You can have a nice party without going into debt.
This is about a party today but you might want to consider how things are going to be handled by your wife and SIL has their mother grows even more older and requires a lot more assistance. The issue is not going to go away.
My furbabies are my children in fur and I always try to do the best that I can do for them. I would do what you could do for your cat.