A statement from the Diocese of Trenton:
Each year, the Diocese of Trenton undergoes an audit of its financial statements by an independent public accounting firm.
The financial statements for the fiscal year ended June 30, 2021, were audited by WIPFLI LLP. The 2021 audit report included an opinion that the financial statements for the fiscal year ended June 30, 2021, are fairly presented in accordance with accounting principles generally accepted in the United States.
For fiscal year 2021, the Diocese of Trenton reported an increase in total net assets of $8.5 million, compared to a decrease of $0.6 million in fiscal year 2020. The net increase in fiscal year 2021 was due primarily to the impact of the COVID-19 pandemic on insurance claims. For 2021, the insurance revenues net of insurance program expenses were a favorable $8.8 million. The net decrease in fiscal year 2020 was primarily due to overall operations.
The Diocese has effectively managed operational costs, keeping the net change in net assets not related to insurance programs close to breakeven—decrease of $0.4 million in 2021 and increase of $0.5 million in 2020. The Diocese is committed to exercising good stewardship by carefully managing the funds provided for its ministerial and administrative responsibilities.
In accordance with the early Christian community, the Department of Finance strives to safeguard the assets of the Diocese of Trenton in a responsible manner to benefit the common good of all the people of the Diocese.
In order to accomplish our mission, we provide numerous services in the areas of collection & distribution of financial resources; preparation of operating budgets & financial statements (certified with unmodified opinion by external public accounting firm); compliance of all required state and federal filings related to Diocesan finances; banking assistance to parishes/schools; financial auditing of parishes, schools and other entities of the Diocese (internal controls provided); assistance in transition to accounting software upgrades; financial analysis in the planning of future expansion/consolidation of Church operations and, the wise and prudent investment of diocesan and parish assets (guidelines provided).
Phone: (609) 406-7400
E-mail: TemporalAdmin@DioceseofTrenton.org