Parish Loan

31 May 2017 | General Interest

Parish Loan

The Parish has had a loan of $1,200,000 for the building of the church, presbytery, offices and repair of the church roof. We have great difficulty making the loan repayments and are constantly asking for extensions. Recognising this, the Procuration Fund of the Diocese and the St Peter and St Paul Fund from Chatswood Parish have each donated $350,000 to decrease our loan to $500,000. We thank both the Diocese and Chatswood for their great generosity!

But even $500,000 is more than we can afford to repay and so the Diocese has stepped in and paid off the loan, with the expectation that we will pay it back when the Parish is in a “sustainable financial position”. There will be no interest on the $500,000 until this time. Again we thank the Diocese for its generosity.

The Parish Finance Committee now has the task of defining a “sustainable financial position” that is acceptable to the Parish and the Diocese.

Our role as a Parish is to start working towards this sustainable position. We have already begun dialogue with the fundraiser employed by the Diocese and in the coming months we will begin work on a planned giving program. Rather than focussing on repayment of the loan, this fundraising will focus on growth in our pastoral activities. This will help us to become, as the Bishop has challenged us to be, a “neighbourhood of grace” and from this we will grow into a sustainable financial position to repay the loan.  More details about the planned giving program will follow in the weeks to come. 

For more information, please speak with Fr Vince.

 

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