MINNESOTA
The Catholic Spirit
March 1, 2012
The following comments elaborate on the condensed financial statements of the Archdiocese of St. Paul and Minneapolis for the fiscal year ended June 30, 2011
By John F. Bierbaum
At June 30, 2011, the financial condition of the archdiocese is improved, and the financial result of activities in the fiscal year then ended resulted in a surplus of $3.4 million. The bulk of the surplus can be attributed to the insurance program ($1.1 million) and appreciation of investments ($1.9 million).
Revenues and gains
Total revenue for 2011 reached $39,951,000 as compared to $40,446,000 in 2010.
After significant increases in 2010, the primary sources of revenue, parish assessments and the Catholic Services Appeal (CSA) were down 6 percent and 7 percent respectively in 2011. The slight decrease in assessments is reflective of decreased contributions at parishes during the economic downturn in 2009 (base year for assessments).
CSA receipts, as reported, are after deductions for rebates to parishes and allowances. On a pre-deduction basis, the CSA generated $9.5 million, greater than goal and prior year by $200,000. Both speak to the generosity of the Catholic community despite the severe economic conditions and slow recovery.
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