Finance

The Diocese of Portland conducts its business as the Roman Catholic Bishop of Portland, a corporation sole. The diocese, along with its parishes, schools and cemeteries, are one legal entity under civil law in the state of Maine. However, the diocese is also governed according to the Canon Law of the Roman Catholic Church. The Finance Office's responsibilities are much the same as they are in other corporations, as far as civil law matters are concerned. The Finance Office's responsibilities are somewhat broader as defined within the Church.

The Finance Office administers the temporal (worldly) goods of the diocese under the authority of the diocesan bishop and in accordance with a budget determined by a diocesan finance council. Enough income is to be provided to meet the expenses that have been legitimately authorized by the bishop. An account of all receipts and expenditures must be rendered to the finance council each year.

Under Canon Law, the diocese and parishes are not one legal entity. Each parish, as well as certain other institutions, are a separate legal entity or separate juridic person under Canon Law. Each juridic person has certain responsibilities and certain rights under the law. Nevertheless, the Finance Office must exercise careful vigilance over the administration of all temporal goods which belong to public juridic persons subject to the bishop.

The Finance Office oversees the financial affairs and property management of the diocese, as well as diocesan cemeteries, information technology, risk management and parish services. In so doing, the office conducts quarterly reviews and annual audits, centrally administers insurance and benefit programs, oversees investment activities, approves capital improvements among other items.

Audited financial reports are available upon request.


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