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CONTINUED SUCCESS FOR THE CATHOLIC DEVELOPMENT FUND(CDF)The successful operation <strong>of</strong> the <strong>Catholic</strong> Development Fund continues to provide a reliable s<strong>our</strong>ce <strong>of</strong> income for thepastoral initiatives and services <strong>of</strong>fered by the <strong>Diocese</strong> <strong>of</strong> <strong>Ballarat</strong>. The CDF are able to report that it has experiencedanother year <strong>of</strong> exceptional growth in 2008. Deposit holdings, loan balances, reserves and total assets have all increasedsignificantly. The surplus for the year is yet again an improvement on the previous years result.ResultsOur financial result continues to improve.Some significant highlights <strong>of</strong> the years results worth noting include:-• Surplus up by 25%• Deposit funds up by 5%• Loan balances up by 17%• Reserves up by 15%• Total assets grew by 6%• Contributions to <strong>Diocese</strong> increased by 18%Total AssetsDistribution to the <strong>Diocese</strong>8060$million402001998 1999 2000 2001 2002 2003 2004 2005 2006 2007 200870000 060000 050000 040000 030000 020000 010000 0019 98 1999 200 0 20 01 2 002 2003 200 4 20 05 2 006 2007 200 8The improvement in earnings has enabled us to maintain <strong>our</strong> annual contribution to the Retired Priests Fund, furtherincrease <strong>our</strong> distribution to the <strong>Diocese</strong> and again significantly increase <strong>our</strong> reserves which are now well in excess <strong>of</strong>$7.4m.The year’s surplus has been distributed as follows:-• Retired Priests Fund $ 50,000• <strong>Diocese</strong> <strong>of</strong> <strong>Ballarat</strong> $ 600,000• Retained Earnings $ 961,639Total $ 1,611,639LoansFor the second year in a row, loans advanced to parishes and schools in <strong>our</strong> <strong>Diocese</strong> exceeded $9,000,000. Thishighlights that strong development continues to occur right throughout the <strong>Diocese</strong>. Loans outstanding at years endamounted to $35,389,640 which is over $5.3 million more than at the same time last year.DepositsDeposits with the CDF are not a donation. While every dollar you deposit works for the benefit <strong>of</strong> the <strong>Diocese</strong>, at the sametime it earns you a healthy return, free <strong>of</strong> administrative fees and charges.The success that the CDF has achieved has been due to the support and loyalty that we receive from depositors, clergy,parishes, schools and colleges and other catholic entities. Thank you for y<strong>our</strong> support in making the CDF such an integralpart <strong>of</strong> the <strong>Diocese</strong>.Please feel free to contact the Fund on 1800 134 100 for further information.Recent projectspartially fundedfrom the CDF:Right:DamascusCollegeLeft:St Augustine’sPrimary SchoolCreswick

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