146 Metlars Lane, Piscataway, NJ 08854 | T: (732) 562-1990 | F: (732) 562-1399 | email@example.com
About Us » Annual Report
We invite you to view/download our 2016 Annual Report (PDF) to the People of the Diocese of Metuchen for the Fiscal Year 2015-2016.
A letter from The Most Rev. James F. Checchio, Bishop of Metuchen:
Dear Brothers and Sisters in Christ,
Thank you for your dedication to the spiritual and temporal works of the Diocese of Metuchen. You have been a great inspiration for me during these first months as your bishop.
Accountability is an important part of the faithful stewardship of the gifts you have entrusted to our care. It is a responsibility that is taken very seriously and involves vigilant oversight and careful review by our diocesan staff and the professional individuals who serve so faithfully on our Diocesan Finance Council. The audited figures presented in this report are offered, not only in the spirit of transparency, but also as an invitation to you to join with me in building up this local Church of Central New Jersey into an even more enduring sign of the Kingdom.
In reviewing the condensed statement, you will see a decrease in net assets, a deficit, presented on the Statement of Activities and Changes in Net Assets. This deficit is primarily the result of unrealized investment losses and changes in actuarial assumptions, including the interest rate assumption, applied to the Clergy Retirement and Post-Retirement benefit plans. These investment and benefit valuation adjustments are “non-cash” accounting transactions and do unfortunately at times cause large variations in the results. However, they result in no permanent impairment to the Diocese’s financial position.
You should know that these past months have been dedicated to finding the most effective ways to accomplish our mission. We are assessing every part of our diocesan organization to ensure that the resources you so generously provide are being used wisely and to eliminate the deficits we have experienced in recent years. We must never allow our financial state to keep us from doing what we need to do in the name of Christ. Yes, we have some challenges, but I remain optimistic that by working together, and with the guidance of the Holy Spirit, our pastoral mission will continue to thrive and grow. Thank you for your continued support and be assured of my prayers for you.
With renewed best wishes, I remain
Yours in Christ,
Most Reverend James F. Checchio, JCD, MBA
Bishop of Metuchen
146 Metlars Lane
Piscataway, NJ 08854
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T: (732) 562-1990
F: (732) 562-1399