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, 2020, were audited by WIPFLI LLP. The 2020 audit report included an opinion that the financial statements for the fiscal year ended June 30, 2020, are fairly presented in accordance with accounting principles generally accepted in the United States.
For fiscal year 2020, the Diocese of Trenton reported a decrease in total net assets of $0.6 million, compared to a decrease of $11.8 million in fiscal year 2019. The net decrease in fiscal year 2020 was due primarily to the impact of the COVID-19 pandemic on operations.The net decrease in fiscal year 2019 included approximately $10.9 million from increased insurance program expenses, most of which relate to potential costs for misconduct cases, compared to a decrease in insurance program expenses of approximately $9.0 million in fiscal year 2020.
The Diocese has effectively managed operational costs, with an increase in net assets not related to insurance programs of $0.5 million in fiscal year 2020, which is an improvement over the $0.9 million decrease in fiscal year 2019. 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.
Our Services
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 unqualified 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).