My career began many years ago in a CPA firm when staff routinely put in 60, 70 or even 80-plus hour weeks during peak season. My wife and I had our first four kids in five years, and it was a hard time for our family. So-called “balance” was elusive. It got even harder as our family continued to expand. Over time, four additional kids came along.
I’ll never forget my wife taking me aside during a particularly excruciating time and offering an important insight. “Predictability equals stability,” she said. It became something of a mantra for us over the years.
Although I’m new in my role with the diocese, my predecessor, CFO John Mackessy, made financial stability a priority. With the benefit of his efforts, along with the entire leadership team, we’ve achieved a balanced operating budget for the first time in several years. I’m grateful for the hard work that has been done to fulfill our responsibility of stewardship. We owe that to you, the faithful of our diocese, whose generosity is truly appreciated.
As a newbie to the diocese, among my surprises was the sheer breadth of its operations. There are so many dedicated people here who contribute to the life of the Church and inspire me with their example. At the same time, the financial needs are many and varied. Maintaining the facilities infrastructure alone is a daunting challenge, I had no idea how expensive parish or school roofs can be, or how many require repairs!
In an effort to help provide better predictability, I’ve been focused on three overarching priorities to meet the needs of the diocese both now and in the future.
Financial sustainability: A balanced budget was the first step. Thankfully, the markets have helped too, plugging most of the gap in what had been underfunded pension liabilities. Our revenue sources such as The Appeal are an important component of ongoing sustainability along with disciplined spending that reflects our mission-focused priorities.
Building for the future: We’re so grateful to be in a position where most of the tough decisions that were part of the Real Presence, Real Future initiative are now behind us. We now face enormous opportunities as a diocese. Parishes are growing. Catholic schools are bursting at the seams. Capital campaigns are underway in various places to respond to these needs, and a diocesan campaign is in the planning stages. By investing in our mission of evangelization and responding to population growth, we hope to hand over a vibrant and thriving Church to our children and grandchildren.
Operational excellence: The diocese focuses much of its efforts on providing services to support parishes and Catholic schools. We continually strive to improve those services, and to build positive relationships and trust with our “clients.” After all, we’re all working together in the Lord’s vineyard.
Financial stability is a great gift that you have given to our diocese. Let’s pray for the Lord’s continued blessing, and for our bishop, the priests and religious among us. There is cause for tremendous gratitude in the blessings the Lord has provided to us in the past. We can also look forward with great hope and, together, rise to meet the opportunities of the future.
Kevin Lowry is the diocese’s chief financial officer.