Finance

The diocesan fiscal year begins on July 1 and ends on June 30.

The diocese maintains a cooperative savings and loan program, in trust for diocesan entities, to manage deposits of medium to long term funds and also to issue loans to participating members, primarily for construction projects. Funds in excess of an entity’s short-term operating needs must be on deposit in the Savings & Loan Trust Fund.

The deposit rate is 2.75% and the loan rate is 4.75%.

Parishes are annually assessed on a percentage of their ordinary income, which is currently 26%, less certain allowable credits. Assessment calculations are prepared using the most recently available June 30 year-end parish financial report. For the majority of parishes, most of their assessment is raised through the Catholic Faith Appeal.