Diocese gets clean result in annual audit

January 14, 2025

Image of people looking at spreadsheets

by Robert Larson, chief administrative and finance officer of the Diocese of Des Moines

The financial statements of the Diocese dated June 30, 2024 were audited by the independent certified accounting firm of CliftonLarsonAllen. 

They issued an unqualified (clean) opinion that the financial statements present fairly the financial position of the Diocese of Des Moines in accordance with generally accepted accounting principles. 

The Diocesan Audit Committee, chaired by Dan Kinsella, oversaw the audit process.  The Diocesan Finance Council, chaired by Tom Mahoney, approved the audited financial statements.

The Diocese ended the year with an operating surplus of $220,000. The main factors that impacted the results were the following:

  • Higher Investment Returns: The financial market conditions were favorable.
  • Higher Clergy Care Costs:  This is mainly due to the higher costs for the Diocese to provide the healthcare for all of our active and retired clergy.
  • Inflation: The Diocese’s expenses were negatively impacted by inflation.

Thanks to the many generous donors to the Ignite! capital campaign, the Statement of Financial Position reflects the pledges outstanding.  At the end of June 2024, the balance was $7.2 million.  The total amount collected and pledged for the Ignite! campaign is closing in on $37 million.  When the funds are received by the Diocese, they will be distributed according to the guidelines provided by the campaign and/or the donor’s intent net of the costs to execute the campaign.

As we look to 2025, we look for opportunities to be more efficient and to manage spending to offset the impact of inflation. 

We are also investigating how we can utilize technology to enhance our processes and services we provide to parishes and schools. 

We continue to visit the parishes and schools on site and review internal controls.  With the help of the pastor, staff and
Finance Council members, we continuously work to insure financial transparency and accountability.

Review the full audit at dmdiocese.org/resources/finance

Diocese of Des Moines Expenses - FY2024

Diocese of Des Moines Revenue - FY2024

Diocese of Des Moines Statement of Financial Position

Diocese of Des Moines Statement of Activities