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

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23,1998 The Message -- for Catholics of Southwestern Indiana Chart 3: Total Expenses and Administrative Office Expense 8,000,000 1,000,000 0 &apos; 1993 1994  Total Expenses 1995 1996 1997 [] Administrative Office Expense df m page 16 1 te 1000 ,r, employees. dla t expense of the 'ati umco is interest lnt, it klS'. :t expense pay- ", w,me made to Xls and institutions :ese that had monev on a L )eposit and Loan k TOtal EXpenses and ative Office Ex ense ed to dis" p -- fex .... pray me -,t,es Over the last 's. q  larger column represents total expenses over the five-year time frame. The shorter column represents the portion of total expenses that are attributed specifically to the operation of the administrative offices. It is significant to note that expenses of the administra- tive offices have increased at an average rate of only 2.6% per year. This is below the rate of inflation over this period of time. The increase in total expenses is attributed to the growth of medical claims. Three Built in 1825 for Noon Day Coach Stop & Trading Post RECOGNIZED AS RESTAURANT IN INDIANA NORTH OF EVANSVILLE OF US 41 ON OLD STATE ROAD 1,800,000 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 17 years ago the diocesan lay med- ical plan covered only 350 total lives. Today that same plan cov- ers approximately 1,100 employ- ees and their dependents. In fact, the claims for the lay med- ical plan have increased almost $1.6 million over the last 3 years. Chart 4: Investment Income and Interest Expense displays the growth of investment income over the last five years. This growth can be attributed to two factors. First, more money has been placed on deposit in the deposit and loan fund in anticipation of build- ing and renovation projects. Secondly, and more impor- tantly, we have witnessed growth in the stock market that very few could have pre- dicted. This has provided a rare opportunity to trade a small portion of our invest- ments at substantial gains. r I I0 I 1993 1994 1995 1996 1997 II Investment Income [] Interest Expense While I do not anticipate the unprecedented growth to con- tinue into the future, I do believe that the staff, under the direction of Bishop Gettelfinger, has built a solid financial plan for the future. It is our goal and, in fact, our responsibility to be a conscientious and diligent steward of the resources you, the Catholic people of south- west Indiana, have so gener- ously entrusted to our care. i What is the deposit and loan fund? The deposit and loan fund is the internal banking mechanism for parishes  ltOn  of the diocese. This fund has been in existence s the beginning the   yeant a!It has served as an invaluable resource over that time. The basic concept behind the deposit and loan fund is that pa and institutions with ex operating funds are to deposit those funds in a central relxsitory. The entity depositing the funds maintains ownership of the money and receives interest income at the rate of four percent per year. The money on deposit is then used to fund various building, renovation and emergency needs throughout the diocese. The borrowing parish or institution is able to obtain the funds at the modest rate of five percent per year. I The deposit and loan fund has been an integral part of almost all building projects of the recent i I past. These have included the new church at St. Nicholas, renovation work at Washington Catholic i i Schools and the new multi-purpose center at St. Joseph Vanderburgh Count); to namejust a few, i This fund is a marvelous example of the way the entire Catholic church community in south, I western Indiana works together to help its own parishes and other institutions with special needs. ! ................................................................................................................................................... .2S_ ............ _i oG.. so. %Y M Chiropractic Physician 474-0704 & Office Safes Green River & Vogel HOt,uth Chitc't I. Rd, Evansville. IN 1 t t 1 S Green River Rd., Suite 104 800-838-0808 ..... 497-8660 i lUl ii ii I i I I MUENSTERMAN'S := Ed. L. Lee FIRESTONE SERVICE, INC. ]Vl[ortual 1400 W. Franklin WASHINGTON, IN Evansville. IN 254-1430 TOLL FREE 1-800-GMC-CHEV 424-5000 EARLY .... STAGE "q :inl.,,lll  COACHsToP )ire t,-- ne Orioinal Log Room 't 5 "" braham Lincoln was in bINNeD November 1844 . GHLAND CHAPEL , Four Convenient Locations 30o FRST = HS SERVED by Ala Carte Menu AVENUE Or FAMILY STYLE for 4 or More u raught Beer -Wine -Cocktails L NING ROOM SEATING 500 , ": ........ :,', ' ..... ,' ' :,',' ',, " ' ng Dinner from4 t010:30 p.m. TFs - Tuesday Saturday Glose -" d Sunday and Monday Box 68 Montgomer3, , Indiana 47558 ( Telephone 867-3216 Donald I. Travlor and RITA ELPERS, proprietors President Pine,: 486<285 - :2 - 7 ...... ii iiii 11111111 - 101 North Meridian Street Washirgton, IN 254-3612 I I I I I 11111111 tl r II I  HAUBSTADT ELECTRIC PO 5 &;5 iii iii u ii ii i  ' ii,! i !I 'i   !i k' Chart 4: Investment Income and Interest Expense