Annual Financial Reporting
A Statement from the Diocese of Trenton
February 8, 2023 at 5:09 p.m.
Annual Financial Reporting
The financial statements for the fiscal year ended June 30, 2022, were audited by WIPFLI LLP. The 2022 audit report included an opinion that the financial statements for the fiscal year ended June 30, 2022, are fairly presented in accordance with accounting principles generally accepted in the United States.
For fiscal year 2022, the Diocese of Trenton reported an increase in total net assets of $6.8 million, compared to an increase of $8.5 million in fiscal year 2021. The increase in fiscal year 2022 was due primarily to the sale of an unneeded parcel of land. For 2021, the increase was due primarily to reduced insurance claims during the COVID-19 pandemic.
The Diocese has effectively managed operational costs, keeping the change in net assets close to breakeven—a decrease of $0.3 million if the sale of the unneeded parcel of land in 2022 is removed. The Diocese is committed to exercising good stewardship by carefully managing the funds provided for its ministerial and administrative responsibilities.
In accordance with good stewardship and our Catholic values, 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 and distribution of financial re- sources; preparation of operating budgets and 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; operational reviews of parishes, schools and other entities of the Diocese (internal controls provided); 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).
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The financial statements for the fiscal year ended June 30, 2022, were audited by WIPFLI LLP. The 2022 audit report included an opinion that the financial statements for the fiscal year ended June 30, 2022, are fairly presented in accordance with accounting principles generally accepted in the United States.
For fiscal year 2022, the Diocese of Trenton reported an increase in total net assets of $6.8 million, compared to an increase of $8.5 million in fiscal year 2021. The increase in fiscal year 2022 was due primarily to the sale of an unneeded parcel of land. For 2021, the increase was due primarily to reduced insurance claims during the COVID-19 pandemic.
The Diocese has effectively managed operational costs, keeping the change in net assets close to breakeven—a decrease of $0.3 million if the sale of the unneeded parcel of land in 2022 is removed. The Diocese is committed to exercising good stewardship by carefully managing the funds provided for its ministerial and administrative responsibilities.
In accordance with good stewardship and our Catholic values, 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 and distribution of financial re- sources; preparation of operating budgets and 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; operational reviews of parishes, schools and other entities of the Diocese (internal controls provided); 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).
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