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Evansville, Indiana
January 23, 1998     The Message
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January 23, 1998

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6 The Message -- for Catholics of Southwestern Indiana Diocese of Evansville annual financial By ROBERT COX Diocesan Treasurer Chart 1: Income and Other Support The fiscal year which ended August 31, 1997 was another out- standing financial year for the Dio- cese of Evansville and specifically .... for the administrative offices of the Diocese. This year saw continued growth through building and ren- ovation projects, record support for the Catholic Parishes Cam- paign, an increase in net assets of $1,018,419 and the implementation of the largest capital campaign pro- ject to date in the Treasure the Tra- dition campaign for the two Evans- ville high schools. The charts and financial data presented in this article include selected financial information from the audited financial statements. Geo. S. Olive & Co., LLC, conduct- ed and prepared the audit report dated Oct. 13, 1997, on the finan- cial statements for the fiscal year ended Aug. 31, 1997. The complete audited financial statements are available for review during normal business hours in the office of the treasurer. I would like to briefly discuss each chart and provide additional information that may not be obvious from the presentation. Chart 1: Income and Other Support lists the primary sources of funding for diocesan pro- grams and services. The largest item of support includes fees charged for the various insurance programs. These premiums fund the lay med- ical insurance program, the clergy medical insurance program and the property and liabil- ity insurance program of the diocese. These insurance programs are designed to be self-suf- Catholic Parishes Campaign [] Bequests and Donations Insurance Fees [] Investment Income [] Communication [] Other Chart 2: Expenses I Administrative Offices [] Clergy Salary and Benefits [] Lay Pension Plan Subsidies [] Interest [] Insurance [] Capital ficient. Therefore they receive no direct funding from the Catholic Parishes Campaign. The two largest items of support for the administrative offices and diocesan services were CPC and investment income. CPC generated $2,925,750 and the diocesan portfolio generated invest- ment income of $1,794,367. The second chart displays the primary categories of expenses. The largest expense section is repre- sented by the insurance claims. The single largest expense of diocesan programs and services is the annual funding for the lay pension plan. This plan provides retirement benefits for all eligible full-time employees of the diocese. We currently cover See REPORT page 17 The Administrative Offices of the Catholic Diocese of Evansville (Chancery and Certain Diocesan Entities) ' Combined Statement of Financial Position August 31 1997 1996 Assets Cash and cash equivalents $ 745,063 $ 654,025 Receivables *- Loans- parishes and institutions 3,422,949 2,614,051 Accrued interest 197,508 183,273 Catholic Parishes Campaign 1,189,062 1,063,203 Services 99,651 61,836 Other Diocesan entities 82,866 129,194 Other 184,519 326,720 5,176,555 4,378,277 Investments 17,160,360 15,345,128 Prepaid expenses 315,621 475,558 Total assets $23,397,599 $20,852,988 Liabilities Accounts payable Other accrued expenses Unearned service revenue -- Catholic Parishes Campaign Deposits held for parishes and other diocesan entities Accrued interest Other liabilities " Total liabilities Net Assets Unrestricted Undesignated Designated Temporarily restricted Permanently restricted Total net assets Total liabilities and net assets $ 54,994 $ 81,990 177,011 278,457 3,124,200 2,925,750 12,286,363 10,776,972 39,789 46,531 103,815 150,280 15,786,172 14,259,980 4,175,962 3,115,350 .... 1,699,420 1,768,013 5,875,382 4,883,363 423,138 400,417 1,312,907 1,309,228 7,611,427 , 6,593,008 $23,397,599 $20,852,988 Who are regarding who is considered an employee o employing entities throughout our i2 employing entities consist of V'mcent de Paul stores/ ter. These employers currently full-time and part=time employees, These employees represent all phases These include parish administrative todians, coors, :cto of z ters and on and on. The diocese of EvansvilIe is productive and dedicated a staff a s we do. ! be able to f KORDES ENRICHMENT FERDINAND, INDIANA WintedSpring 1998 Programs February 6-8 Letting Go and Going On: The Freedc Boylan 15-18 Advancing Your Religious Community Members of the Sisters of St. Benedicl 27-Mar. 1 Discovering Your Hidden Treasures: ,' Guides: Kattdeen Kaelin, OSU 28 Praying Without Words: An Kristine A. Harpenau, OSB i j March 3 Practical Skills For Pastoral Ministers: Change In Others: Raphael Smith, Psy.D. 20-22 Walking With Jesus Through the Passion and Donald Dilger and 27-29 Strategies For Ministry Transitions: April 17-19 When You or Someone You Love Has Cancer...: Tierney and Kristine A. Harpenau, OSB 19-23 Awakening: A Rebirth of Enthusiasn of the Sisters of St. Benedict May 8-10 Sacred Stories, Sacred Lives: The Hal Barbara C Schmitz, OSB Kordes also offers Elderhostels, summer retreats, Is your nonprofit group looking for a place to meetings, workshops or retreats? is available for day or overnight rental. For more on upcoming programs or to rent the facility 841 E. 14th Street, Ferdinand, 812-367-9216 or 800-! Web site: www.thedome org E-maih kordeS