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June 16, 2019
We received a letter from a Parishioner, asking for clarification in an area of the Financial Report. We are open to complete transparency and welcome specific questions that can be answered in this format.
Fr. Anthony:
My name is Doreen Penn and I am a parishioner at St. Catherine's. Thank you for publishing the financial reports in the June 6, 2019, Sunday bulletin. Regarding the PACE campaigns, I found myself wanting to hear more about the progress of the building. Is it stalled or is work progressing? It looks like there are expenses being charged to the project. Are these architect's fees or some other consultant fees? Any clarification/ update would be appreciated. Thank you for everything you do. This is a wonderful parish.Thank you, Doreen, for your inquiry. We will try to answer these questions as succinctly as possible. Currently the PACE I and PACE II projects are inactive, placed in two separate accounts at the Diocesan level, earning interest. The current Combined Capital Campaign “Fulfilling the Promise”, is in its final months, concluding in October of 2019. These funds are also held at the Diocese in a separate account, earning interest. There is not at this time any active building project and no funds are being spent on any costs associated with building. The Combined Capital Campaign has paid a portion of the money ($88,750) it agreed to pay the Diocese in the original agreement. Over the course of the years, monies were spent to run Giving Campaigns, as well as pay for architectural designs and other costs that accompanied the plan to start building during the PACE II campaign, in approximately 2005. Between 2002 and 2006 just a little under $296,199 was spent on the architectural designs. During the three separate campaigns, $150,088 was paid to Walsh & Associates for managing the Fundraising campaigns. The remaining $253,216 was spent on a variety of miscellaneous expenses, including, but not limited to, fundraising events, administrative costs, advertising, as well as city permits. Please check the Parish website for a breakdown of the expenses by category as shown below:
