Manchester Diocese to Publish Its Finances
Union Leader News [New Hampshire]
Downloaded May 24, 2003
The Manchester Diocese said it intends to make a full public accounting of its finances by publishing two years of audited financial statements later this year.
The audits for the fiscal years ending June 2002 and 2003 will reflect the financial impact of this year's payments totaling $15,450,000 to settle most of the outstanding sexual abuse claims against the diocese, the church said.
The Rev. Edward J. Arsenault, chancellor for the diocese, said Bishop John J. McCormack will publish the financial statements once the final audit is completed in the fall of this year.
"Bishop McCormack has made a commitment to the Christian faithful to provide a clear and accurate report of diocesan finances," Arsenault said in a statement.
"The financial position of the diocese has been affected by the unforeseen impact of the recent settlements, therefore the 2002 and 2003 statements will be published together."
Patrick McGee, spokesman for the diocese, said the church's finances have not been disclosed before, but the bishop wants to provide the "clearest picture of the financial condition of the diocese."
He said people will be able to compare the financial statements from the two years to get an idea of the impact this year's settlements have had on the church.
The diocese announced Thursday that the $6.5 million to be paid to 61 clients in the last large settlement will be spread out over three years to preserve the stability of church finances. Thus far, a total of 176 people have been compensated, the diocese said.
McGee said the current fiscal year closes June 30 and the report may be available by September.
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