The Register received two “Ask the Register” questions related to diocesan finances and posed them to Tracy Lockwood, chief financial officer. Her responses are below. Learn more about the diocesan finance office later this month with the 2019 Financial Report.
Q. Are parish finances audited by the diocese and if so, what does the audit consist of?
A. Annually, parishes submit their financial report to the Catholic Bishop of Lincoln. The reports are not audited, however, they are reviewed to obtain a high level picture of the parish finances and to identify any major accounting or reporting inconsistencies from the diocesan parish accounting manual.
Q. Are the new tuition guidelines outlined mandatory across the diocese for 2019-20, that is $1,300 per student? Besides applying for scholarship, is each school to set the minimum at $1,300?
A. In January 2019, the Diocese of Lincoln announced that in the school year 2019-20, diocesan schools that had a minimum tuition of at least $1,300 at the elementary level ($1,700 secondary level) would be able to participate in the Good Shepherd Scholarship Fund. The Good Shepherd Scholarship Fund provides scholarships of up to 75% of tuition for families that are within 200% of the poverty level and attend Catholic schools.
By setting tuition to a standardized minimum and offering scholarships, the financial benefits include increasing the long-term viability of our schools, while giving the schools the resources they need to compensate teachers fairly and to relieve some of the financial support needed from the parishes. Through the Good Shepherd Scholarship, the diocese will balance the effort to increase the sustainability of Catholic schools with a continued commitment to provide an excellent faith-based education to families of all income levels.
Write to Ask the Register using our online form, or write to 3700 Sheridan Blvd., Suite 10, Lincoln NE 68506-6100. All questions are subject to editing. Editors decide which questions to publish. Personal questions cannot be answered. People with such questions are urged to take them to their nearest Catholic priest.
