GUAM
The Guam Daily Post
The newly created Archdiocesan Receivership Committee is taking over the management of finances and assets of the Guam Catholic Church’s main edifice – the Dulce Nombre de Maria Cathedral-Basilica.
The Cathedral-Basilica’s finances have fallen “in such a state requiring this urgent action,” said Coadjutor Archbishop Michael Byrnes.
“The Agana Cathedral-Basilica … is under severe financial strain,” Archdiocese Finance Council President Richard Untalan said during a press conference yesterday. “It cannot meet its obligations. Within the last two and a half years, it incurred a debt of $1.9 million, $800,000 of which is a refinance portion of a loan and the rest are outstanding payables.”
Businesswoman and former Sen. Toni Sanford has been named chairwoman of the receivership committee. Ricardo C. Duenas and former Department of Revenue and Taxation Director Art Ilagan are the committee’s members.
The receivership committee’s chairwoman will have unrestricted financial, administrative and operational management powers, including: bank account signatory; hiring or firing staff and volunteers; and reconstituting or establishing finance and pastoral councils.
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