To Get out of $2m Debt, Agana Cathedral Placed in Receivership

By Krystal Paco
KUAM
March 23, 2017

http://www.kuam.com/story/34987557/2017/03/Friday/to-get-out-of-2m-debt-agana-cathedral-placed-in-receivership

[with video]

[Statement from Archbishop Michael J. Byrnes]

[Statement from the Rev. Melchor T. Camina, chancillor, regarding the receivership committee]


It's a first for Guam - the mother church of the Archdiocese of Agana has been placed in receivership in an effort to get out of a nearly $2 million debt that resulted from the controversies surrounding Guam's Catholic Church.

$2 million in the last two years...the Agana Cathedral Basilica is clearly in trouble. Archdiocesan Finance Council president Richard Untalan said, "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 refinanced portion of a loan and the rest are outstanding payables."

That's money owed to the local and federal government and countless vendors who've shown mercy to the church. Part of the problem: parishioners are giving less. Weekly collections once averaged around $10,000, compared to today at $4,000. Coincidently, the decline in donations to the church occurred around the time Monsignor James Benavente was removed as rector of the Cathedral by Archbishop Anthony Apuron.

The monsignor has since been reassigned to St. Anthony Catholic Church in Tamuning. The rector of the Cathedral today is Father Paul Gofigan. "The first thing I looked at was the financial statements," he summarized. "Upon looking at the financial statements, I knew right away there was going to be problems with trying to get above water. I knew that the basilica was pretty much deep in debt. It was drowning."

To remedy the situation, Guam's coadjutor, Archbishop Michael Byrnes, put in place an Archdiocesan Receivership Committee consisting of finance professionals Art llagan, Duenas, and Antoinette Sanford. Sanford admits there's no plan of action or timeline, but the hope is to regain the public's trust and bring people back to the church.

She said, "We owe all the vendors and they're so forgiving and we thank you for that. But we know we have obligations. We know we've made commitments and we will make it right. We just need a little bit of time. The banks have been very forgiving - we've been coordinating for just a little more extension. A little bit of understanding and patience."

Sanford added, "This will pass. We will recover. We have a great group of people who are excited about coming back and rediscovering the faith the trust and the unity so we can move forward."

Untalan concluded that Archbishop Apuron's removal as a priest could greatly improve the public's trust in the Church, saying firmly, "I have no doubt about that."

Other parishes are reportedly stable.