Report: Philadelphia Archdiocese Had $39-Million Deficit In 2012
By Mike DeNardo, Pat Ciarrocchi
PHILADELPHIA (CBS) -- The leader of Philadelphia's Catholics warned that the financial report being released today by the archdiocese wouldn't be pretty.
And it's not.
The latest financial report shows what's called a "staggering" operating deficit for the archdiocese: $39 million for fiscal year 2012. That's grown from $12 million the year before, and $3 million the year before that.
Archdiocese spokesman Ken Gavin says fiscal year 2012 was a particularly bad year, with non-recurring legal expenses from the clergy sexual abuse crisis and the investigation of its former chief financial officer.
Read the Complete Report (.pdf format)
But Gavin says in fiscal year 2013, which just ended on Sunday, the archdiocese, under Archbishop Charles Chaput, has taken steps that will show up in the next report.
"Things like the sale of the retired priests' home in Ventnor, New Jersey, the archbishop's residence, we had to take some measures here where we reduced staff," Gavin explained.
Gavin says it's estimated that the fiscal year 2013 deficit will be down to around $5 million.
The report focused on archdiocese headquarters operations, and does not include Catholic schools or individual parish finances.
