MINNESOTA
Canonical Consultation
Jennifer Haselberger
Priests in the Archdiocese of Saint Paul and Minneapolis were informed this morning that the Central Corporation reported an operating deficit of $9.1 million and a net loss of $8.9 million for the fiscal year that ended June 30, 2014. I have several comments to make about the deficit and the reasons given for it, which I will present in a later post. In the meantime, here is the announcement that pastors and parochial administrators received shortly before the information was posted on the archdiocesan website.
Subject: FY 2014 Chancery Corporation Financial Report Released Today
Dear Pastors and Parochial Administrators,
Today, the Archdiocese of Saint Paul and Minneapolis is releasing the full audited financial report for the Chancery Corporation for the fiscal year ended June 30, 2014. We will post the financial statements, footnotes to the statements, and the independent auditors’ report as one document on archspm.org at 10 a.m. today. You will find it on the Administration and Finance page of the website: http://www.archspm.org/departments/administration-finance/index.php.
Attached to this email you will find a PDF of the articles which will appear in today’s issue of The Catholic Spirit and be posted on http://thecatholicspirit.com/ at 10:00 a.m. today. I am sending this email to you now so that you are aware that this information will be posted later today. The Archdiocesan Update with links to all the online content will be sent at 10:00 a.m. to all clergy, parish business administrators, parish trustees, Catholic school principals and presidents, and other parish and school leaders who have signed up for the Archdiocesan Update enewsletter.
A few important points for you to know that may be helpful if you get questions from parishioners or others regarding the financial report release:
* The Chancery Corporation financials cover the activities of the archdiocesan Chancery Corporation. Parishes and other Catholic entities are independently incorporated and report their own financial information.
* The net assets of the archdiocesan Chancery Corporation were $32.5 million at June 30, 2014, the end of the last fiscal year. That is $8.9 million less than a year earlier.
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