Boston Archdiocese in 'dire' financial shape, says Cardinal O'Malley

Published: 2006-04-20

BRIGHTON, Mass. (CNS) -- Boston Cardinal Sean P. O'Malley called the archdiocesan financial condition "dire" April 19 as he unveiled audited disclosure reports showing a $46 million deficit for the 18-month period ending June 30, 2005. "It is quite obvious that the situation is urgent," putting programs and ministries at risk, Cardinal O'Malley said at a news conference held to release the financial disclosure reports and an archdiocesan fiscal recovery plan. Also announced were plans to cut the deficit that include eliminating 50 positions, consolidating or merging programs, selling more property and making efforts to increase fundraising. "I don't think there are any quick fixes but we are poised to stop the bleeding and hopefully our fundraising efforts will continue to generate the kind of capital we need," the cardinal said at the news conference held at St. John's Seminary in Brighton. He expressed hope that by fulfilling the promise of financial transparency he made last October trust in the archdiocese will be restored.

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