Newspaper Page Text
Thursday, April 19, 2001
Fiscal Year 2000
The Southern Cross, Page 7
(Continued from page 6)
Operating Revenues
□ FY1999 ■ FY 2000
Assessments Investments
Other
Contributions Services
Revenues are generated primarily from parish
assessments, contributions, investments and pas
toral center services. The biggest increase during
the year was posted by the contributions, up 28%
over the previous year. This is a source of revenue
that is unpredictable, but it does reflect the gen
erosity of the Catholic community in this diocese.
Pastoral Center Expenses
O FY 1999
Parish Support Services
■ stKBnnnt) & o»wtopa«nt
FY 1999
□ OiprKrton
Botnr
FY 2000
Pastoral Center expenses totaled $3,996,000, up
approximately $535,000. The good news in this
increase is that most of it was invested in Parish
Support Services, which includes subsidies to mis
sion parishes, financial support for various mini
stries, such as the Diocesan Tribunal, campus mi
nistry, family life, and lay and hospital ministries.
Other services include education, social assistance
to Hispanic communities and outreach to the nee
dy, including Saint Mary’s and Nazareth Homes.
These expenses increased by almost $400,000 dur
ing the year. They represent funds received by the
Pastoral Center and spent to support the various
parish and ministerial activities of the diocese.
On the administrative side, the percentage of
funds spent for administrative services dropped
from 48% to 39%. Approximately 53% of these
funds were spent for management support and
communication purposes. Eight percent was spent
for the 150th Anniversary Celebration. Although
some costs will also carry over to next year (FY
2001), they are of a non-recurring nature.
***
The diocese operates a Parish Savings & Loan
activity. Its purpose is to act as a bank for the
parishes, providing a depository for their excess
funds, as well as to use these funds as loans to the
parishes for capital financing.
Savings & Loan Balances
Parish Savings & Loan Activity
□ Interest E»p«ni* DWitt Off]
During the year, funds placed on deposit with
the Pastoral Center increased to $4.4 million from
$2.4 the previous year. Loans made to parishes
decreased by $200,000 to $ 1.9 million. The bish
op, as part of the Jubilee year, wrote off approxi
mately $76,000 of loans to mission parishes.
This acts as a forgiveness of debt for these pari
shes and allows them to invest their limited re
sources in parish ministries rather than to pay back
their loans from the Pastoral Center.
♦ ♦♦
Insurance Fund
1999 2000
ASX ATX
□ Revenue □ Expenses □ Deficit
The Pastoral Center provides insurance-type
services primarily to the parishes. These include
health care, retirement, property and liability
insured programs.
Health Care Program
■ Nwuw □ Expanse* □ Me*
During the year, the diocese saw a significant in
crease in the cost of health care, jumping from $1.6
million in 1999 to almost $2.2 million in 2000.
Unfortunately, the revenues from the insurance pre
miums billed to the parishes increased by just under
$200,000. The difference in the net cost of this pro
gram is covered by a subsidy from the Pastoral
Center. The continued increase in health care costs
presents a significant financial challenge to the dio
cese. Appropriate action will have to be taken in the
future year to bring this program in balance.
***
Although not included in the audited financial
report, parish assets represent a significant re
source to the diocese. At year-end, cash and in
vestments totaled $14.8 million, up from just
under $ 13 million for the previous year.
Parish Assets
It is interesting to note the redistribution of as
sets in light of the market risk. In 1999, stocks and
bonds represented 28% of the assets; in 2000, they
represented 7% of the assets while money market
assets increased from 8% to 29%.
Parish Operations
The operating statement for the parishes contin
ues to reflect a strong generosity on the part of
parishioners. Revenues were up from $21 million
to $23 million, and the net excess of revenues over
expenses totaled almost $5 million. These funds
are used by parishes to meet capital and extraordi
nary needs of the parish.
School Activities
FTtSSS FY 2000
B hMUl □ OpoiMI □ Dtttt
; !
Schools continue to grow as enrollment increa
sed by 247 in 2000 over 1999. The deficit from
school activities was more than covered by parish
subsidies. The mission of the schools contributes
to the overall mission of the parish and diocese by
providing faith education for young Catholics.
***
Overall, the Diocese continues to face certain
financial challenges as it moves into the 21 st
Century. Notwithstanding these challenges, the
continued support and generosity of the Catholics
of the Diocese of Savannah will be more than ade
quate to meet these future needs.
For a copy of the complete report, write to:
Deacon Jack Benware
Chief Financial Officer
Catholic Pastoral Center
601 E. Liberty St.
Savannah, GA 31401-5196