My Dear Friends in Christ:
I am writing to share important information about a new initiative regarding financial reporting at the parish,school and diocesan levels.
According to the diocesan Parish Finance Manual that was issued last year, every parish and diocesan school is required to report annually the results of their financial activities for the fiscal year ending June 30. In order for uniformity and consistency in reporting, the diocesan Finance Office has now created a standardized template that will be used going forward by all parishes and diocesan schools throughout the Diocese of Bridgeport. The Diocese, and its related entities will also use the same template to issue their annual financial reports on the same day that the parishes and schools make their reports.
I have determined that the first Sunday of December every year will be known as “Accountability Sunday.” On that day, this reporting will occur, and every parish and school, as well as the Diocese and its related entities will publish their annual financial reports simultaneously. This year, “Accountability Sunday” will fall on Sunday, December 5,2021.
In short, the purpose of “Accountability Sunday” is to ensure financial transparency, to communicate to all parishioners and donors that good stewardship is being practiced and to provide a standard report that is consistent and straightforward. Individual reports will be made accessible via either parish bulletin or parish websites, school websites and the diocesan website. This new method of reporting comes after many months of preparation and is intended to ensure that the financial transparency already in place will be manifest in a new and more uniform presentation.
As we take this historic step, I wish to thank you for your continued support and generosity. Please be assured of my prayers for you and your families, especially as we begin this holy season of Advent.
Sincerely yours in Christ,
Most Reverend Frank J. Caggiano
Bishop of Bridgeport