May 20, 2013 - Diocese of Altoona-Johnstown

Page 8 The Catholic Register, May 20, 2013
The Diocesan Finance Council
The Diocesan Finance Council is a consultative body for
the diocesan bishop that is required to exist by the Code of
Canon Law, the universal law of the Catholic Church. In this
Diocese, a Finance Council has been in place since 1988. It
meets 5 times per year in the presence of the Bishop, providing
guidance and recommendations on all matters of finance
and business practices. The Council reviews the annual budget,
interim financial reports during the year, and the audited
statements at the end of the year. It also monitors the activity
of the Mutual Aid Plan Advisory Council. The Chief Financial
Officer of the Diocese provides staff support to the Council,
and works closely with the bishop in planning the meetings.
As of June 30, 2012 the members of the Finance Council
were:
Mr. Mark Thomas, Chair
Rev. Donald Dusza, liaison to Presbyteral Council
Mr. David Andrews
Rev. James Crookston
Mrs. Lynda Holtz
Mr. Anthony Kamnikar
Mrs. Barbara Kooman
Mr. Thomas Koppman
Mr. D. C. Nokes, Jr.
Mr. Mark Stevenson
Ms. Kathy Wagner
Mr. Thomas Weimer
The Mutual Aid Plan Advisory Council
The Mutual Aid Plan Trust is a deposit-and-loan fund for
the exclusive participation of, and support to, the parishes,
schools, and agencies of the Diocese of Altoona-Johnstown.
It was established in 1957 as a mechanism to use the strength
of combined parish cash reserves to promote the common
good. In 1995, the Mutual Aid Plan Advisory Council was created
to promote and enhance the transparency and accountability
of the Mutual Aid Plan. The members are appointed
by the Bishop for 3 year terms, and the Chair is a member of
the Diocesan Finance Council. The Council meets 4 times
per year. Its main responsibilities are to ensure sound fiscal
policies to preserve the assets of the Plan by prudent investment
practices, reasonable loan practices, and transparent
reporting of operations to depositors. On April 4, 2012, the
assets of the Mutual Aid Plan were placed into a legal Trust to
clearly define each depositor as the owner of their respective
accounts. As of June 30, 2012 the members of the Mutual Aid
Plan Advisory Council were:
Mr. Mark Stevenson, Chair
Mr. Larry Sutton, ex-officio as CFO
Ms. Pam Fuller
Mr. Victor Gioiosa, Jr.
Mr. Samuel Piccioni
Mr. Matthew Reilly
Rev. Msgr. Michael Servinsky
Ms. Kathy Wagner
Diocese Of Altoona - Johnstown/Central Office
tatements of Financial Position As of June 30
2012 2011 2010
ssets
ash and cash equivalents $499,632 -$122,520 -$1,236,391
ccounts and interest receivable, net 1,532,237 1,595,441 2,029,364
ontributions receivable, net 590,483 689,516 985,903
otes receivable-other 173,003 183,252 240,190
nvestments 174,411 171,622 131,043
ther assets, including prepaid pension costs 3,000 3,000 3,940
otal Assets $2,972,766 $2,520,311 $2,154,049
iabilities
ccounts payable $154,381 $126,630 $122,066
ccrued liabilities 23,693 26,266 205,026
eferred revenues 327,911 320,690 119,000
otal Liabilities 505,985 473,586 446,092
et Assets
nrestricted 1,885,077 1,435,148 1,110,839
emporarily restricted 581,704 611,577 597,118
ermanently restricted 0 0 0
otal Net Assets 2,466,781 2,046,725 1,707,957
otal Liabilities and Net Assets $2,972,766 $2,520,311 $2,154,049