FY2012 Report

Contact: Ray Delisle
508-791-5357

Diocese of Worcester Releases Annual Report for FY2012

Small operational surplus attributed to “tight fiscal controls.”

December 20, 2012, WORCESTER, MA -- Following a complete audit of its financial accounting, the Diocese of Worcester has issued online and printed editions of the annual report detailing activities for the fiscal year ending August 31, 2012.

In his letter, the Most Rev. 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 audited report showed an operating surplus of $109,804 after expenses totaling $26,037,091 for 2012 compared to a deficit of $315,690 the previous year on expenses totaling $27,016,336. Given the reduction of nearly $1 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 also wrote that Priests’ Retirement Care is a continuing challenge. Even with a $450,000 subsidy from Partners in Charity, retirement programs for clergy operated at significant expenses over revenues by $1,113,125, up from the previous year’s difference of $1,036,127. In his letter he states “while the trend of deficit spending in the area cannot and will not disappear in the coming year, continued analysis should help us determine a long-range strategy to bring it under control.”

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 $492,965.

The printed report on financial activities is accompanied by an overview of the various aspects of the mission of the Roman Catholic Church in central Massachusetts in collaboration with its parishes during this current Year of Faith, a period of renewal launched worldwide by the Holy Father in October 2012.

The Annual Report is being distributed as a supplement for parish bulletins and is posted online at www.worcesterdiocese.org. A complete copy of the auditor’s report is also available online. As in recent years, this year's report was audited by O’Connor, Maloney & Co., P.C. of Worcester.

Partners in Charity revenue appearing in the report was raised in the 2011 campaign and was disbursed to 29 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 appeal raised more than the previous year and that “the generous response to this appeal is an indication of the commitment to our mission by over 20,500 households in our diocese, including 1,300 new households who participated through online giving.”

The St. John Cemetery System showed a balanced report due in part to a subsidy of $167,820 from Partners in Charity, down from $180,492 in the previous year.

Central Catholic Schools’ expenses totaled $12,341,823 resulting in expenses of $93,146 over revenues prior to accounting for depreciation, and non-operational funding. Central Catholic (C.C.) Schools include the financial activity of the Holy Name C.C. Jr./Sr. High School, St. Bernard C.C. High School, and St. Peter-Marian C.C. Jr./Sr. High School, as well as St. Peter C.C. Elementary School. There were 1,772 students in Pre-K through grade 12 in those four schools during FY2012.

The Catholic Free Press operated with a loss of $95,681 in 2012, down from a loss of $103,990 the previous year.

A Supplemental Details report of revenues and expenditures by agency or ministry is available online at www.worcesterdiocese.org and in the printed Annual Report supplement for parish bulletins. The Annual Report was prepared internally for publication by the Office of Communications. Any questions about the Supplemental Details report or audited financial statement can be directed to Carol Adams, co-director of Fiscal Affairs at 508-929-4340 or by email to [email protected].