Introduction to the Diocesan Balance Sheet

by | Mar 2, 2023

Over the last six months, diocesan staff received an increasing number of questions that relate to the financial assets of the diocese, questions such as: Does the diocese have funds to help pay our church’s mortgage? Can our parish receive a grant from the Seton Belt fund in order to install solar panels? What is the closed parish fund?

The Bishop and staff also realized there would be more questions about the assets of the diocese as the diocesan-wide conversation on reparations continues and the Committee on Reparations, which was authorized at Diocesan Convention in January, begins its work later this year.

In response, the Rev. Canon Andrew Walter, Canon to the Ordinary and Chief Operating Officer, led an online presentation of the diocesan balance sheet on Tuesday, February 28. This presentation provided basic information about the diocese’s assets, including the Soper Fund and Seton Belt Fund, and covered topics such as restricted funds versus non-restricted funds. You may watch a recording of the presentation here.

Information about the assets of the diocese can also be found in the annual audit report of the diocesan finances. As good fiscal management, the financial statements of the diocese are audited every year, and the report from the auditor is included in the diocesan Journal. You may find the 2021 Journal and audit here.

For more information, contact Canon Andrew.