WORCESTER (MA)
Roman Catholic Diocese of Worcester
January 16, 2014, WORCESTER, MA — Following a complete audit of its financial accounting, the Diocese of Worcester has issued an online Financial Report and online and printed editions of the Annual Report on Financial Activities for the fiscal year ending August 31, 2013.
In his letter, the Most Reverend Robert J. McManus, S.T.D., Bishop of Worcester, wrote that “our financial reports demonstrate that we have been good stewards of the donations we have received either directly or through our parishes.” The online Financial Report showed an operating surplus of $122,418 after expenses totaling $24,750,617 for 2013 compared to a surplus of $109,804 the previous year on expenses totaling $26,037,091. Given the reduction of more than $1.28 million in expenses, the bishop’s letter noted that “the various departments in our central administration exercised tight fiscal controls in order to operate within their budgets.”
Bishop McManus wrote that “two significant areas of ongoing concern” are the need to service outstanding debt, which cost Central Administration $994,797, and Priests’ Retirement Care. Even with a subsidy of $865,000 from Partners in Charity, retirement programs for clergy operated at expenses over revenues by $715,325, down from the previous year’s difference of $1,113,125. The total expenses incurred were 2% lower than the previous year.
The Diocesan Expansion Fund, which provides “a safe and secure resource for parish and diocesan savings while meeting borrowing needs with competitive rates,” ended the year on a positive note at $215,700 after allowing for unrealized losses, down from $492,965 the previous year.
Partners in Charity revenue appearing in the report was raised in the 2012 campaign and was disbursed to 30 agencies, ministries, and programs. They included Catholic Charities, Grant-in-Aid for Catholic School Students, Haitian Apostolate Ministry, Seminarian Education, and Religious Education. In his letter Bishop McManus noted that the 2013 appeal raised $33,526 more than the previous year. “I am grateful for the commitment to our mission by over 17,825 households in our diocese, including 1,608 new households who participated through online giving and the 117 members of the St. Paul Society who donated a minimum of $5,000 each.”
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