July 1, 2017 – June 30, 2018
Notes to the financial activities of the Diocese of St. Cloud for the year ended June 30, 2018
This is the annual financial report for the Diocese of St. Cloud Corporation. The Diocese of St. Cloud Corporation is a civil corporation formed in 1900. It was organized pursuant to and operates in compliance with Minnesota State Law. The Diocese of St. Cloud Corporation holds and manages temporal assets, including real property, personal property and investments, for the purpose of assisting the bishop in his ecclesiastical obligation to provide for the spiritual care of the community of the faithful living in the Diocese of Saint Cloud. The ecclesiastical Diocese of Saint Cloud was established by the Roman Catholic Church in 1889, and currently includes the 125,000 Catholics living in 16 counties comprising the diocese. These counties include Stearns, Sherburne, Benton, Morrison, Mille Lacs, Kanabec, Isanti, Pope, Stevens, Traverse, Grant, Douglas, Wilkin, Otter Tail, Todd and Wadena, with a total area of 12,251 square miles.
BASIS OF PRESENTATION
The financial statements include all administrative and program offices and departments of the Diocese of St. Cloud. The financial statements do not include the assets, liabilities and operations of the parishes or schools, which are separate and independent corporations, nor does it include any other separately incorporated operations such as Assumption and Calvary Cemeteries, Catholic Charities, The Catholic Foundation, Society for the Propagation of The Faith (Mission Office), Deposit & Loan or Gabriel Media, each of which, as a separate and independent corporation, issues its own financial report.
DIOCESAN FINANCE OFFICER REPORT
The following comments elaborate on the major categories of revenues and expenses for the Diocese of St. Cloud.
By Joseph Spaniol, finance officer