FALL RIVER — With an over year-long audit process now complete, Bishop Edgar M. da Cunha, S.D.V., has announced the release of a Financial Transparency Report for the Chancery Operations for the Fall River Diocese.
The report is a comparative look at Fiscal Year 2017 versus Fiscal Year 2016 for Chancery Operations. The Chancery is the central administration office in the diocese.
“After more than a year of hard work by our staff and independent auditors, I am glad to issue our first audited financial report,” Bishop da Cunha said. “I am happy to report that the audits performed for FY 2016 and FY 2017 received unqualified or ‘clean’ opinions indicating our financial records and statements are fairly and appropriately presented and in accordance with Generally Accepted Accounting Principles (GAAP).”
The Fall River Diocese engaged the services of Grant Thornton, a global accounting firm with experience working with the Catholic Church, to conduct the audit.
Noting that this report marks the beginning of “an era of financial transparency in the Diocese,” Bishop da Cunha shared his hope that, “trust will again be built and a spirit of collaboration and participation by all our faithful will support our efforts now and in the future.”
82 parishes are located within the diocese.
Within the parishes, attendance ranges from 100 to 3,400 parishioners.
Parishes rage in annual collections from $150,000 to $1.5 million.
Total assets at June 30, 2017 were $90 million. A $5 million increase from 2016.
Total liabilities were $75.2 million in 2017. A $5.5 million increase from 2016.
Net assets were $14.8 million in 2017. A decrease of $500,000 from 2016.
A link for the full report is here: Fall River Diocese Financial Report