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About Us » Annual Report
We invite you to view/download our 2018 Annual Report (PDF) to the People of the Diocese of Metuchen for the Fiscal Year 2017-2018.
A letter from The Most Rev. James F. Checchio, Bishop of Metuchen:
Dear Brothers and Sisters in Christ,
The financial statements presented here reflect the first full year of operating results while serving as your bishop. I am pleased to report that although there are still many challenges ahead, we are making steady progress by being discerning stewards, carefully examining every expense and budgetary decision. It is encouraging to see the early fruits of a collaboration between our episcopal leadership and our Diocesan Finance Council as they share their expertise and offer recommendations for fiscal stability. It is also a blessing to see the good will of so many of our parishioners who are unselfishly willing to sacrifice their time and treasure so that our work of the new evangelization and compassionate outreach to those in need may continue and grow.
The condensed financial information presented is taken from the annual audit performed by an independent, certified public accounting firm. You will see a large increase in net assets reflecting the gains experienced in the stock market as well as changes in actuarial assumptions, specifically, the interest rate assumption and investment return assumptions applied to the clergy retirement and post retirement benefit plans. These extraordinary gains are not anticipated in the diocesan budget; however, I am pleased to tell you that the underlying day-to-day operations of the diocese and its programs met or exceeded their balanced budget goals.
We have worked hard to streamline services and expenses this past year with positive results. We have increased revenue thanks to the generosity of our faithful, especially to the Bishop’s Annual Appeal. After two years of deficits, we are now able to make up some of these losses. I remain optimistic that, despite economic challenges, our pastoral, educational, evangelical and charitable mission will thrive and grow as we heed the call to light a fire in the heart of our world. Faithfully committed to responsible stewardship, you can be assured that the resources entrusted to us are being used in the most effective and innovative ways as we carry out Jesus’ mandate to “Go and make disciples.”
I thank God for you and your continued support of the Diocese of Metuchen. I am confident that God in His Mercy is with us, and for us, and will assist us on the road forward, building up this portion of our Church into an even more enduring sign of the Kingdom. Know of my love, gratitude and prayers, while I ask for your ongoing prayers and faithful support.
With renewed best wishes, I remain
Yours in Christ,
Most Reverend James F. Checchio, JCD, MBA
Bishop of Metuchen