Unrealized gains account for surplus for the year

WORCESTER (MA)
Roman Catholic Diocese of Worcester

January 15, 2015, WORCESTER, MA — Following a complete audit of its financial accounting, the Diocese of Worcester has issued online Financial Statements and online and printed editions of the Annual Report on Financial Activities for the fiscal year ending August 31, 2014.

In his letter, the Most Reverend Robert J. McManus, S.T.D., Bishop of Worcester, wrote that the reports continue to demonstrate good stewardship of donations received throughout the year. The Combined Statements of Activities showed an operating surplus of $1,276,057 after expenses totaling $25,271,377 for 2014 compared to a surplus of $122,418 the previous year on expenses totaling $24,750,617.

Bishop McManus wrote that even with a subsidy of $550,000 from Partners in Charity, retirement programs for clergy operated at expenses over revenues by $993,535, up from the previous year’s difference of $715,325. He expressed his gratitude “to the committee…