Financial Transparency

Financial Transparency

In today’s world, financial transparency is not just a good idea; it is essential. But exactly what is financial transparency? In her opening remarks at a symposium on enhancing financial transparency, then-SEC Commissioner Cynthia A. Glassman said,  “Financial transparency means timely, meaningful, and reliable disclosures about a company’s financial performance.”  Investopedia defines corporate transparency as “… the extent to which a company’s actions, financial statements, strategy, and other issues are visible to outside observers.”  Those are certainly good precepts for businesses to use. But, what about the Church?

While the Church is not a ‘business’ per se, she is responsible to the faithful to act with integrity, honesty, and openness in all her financial dealings. To that end, it is important that the Church strives to mimic the transparency requirements of Corporate America. Certainly, not all aspects of corporate transparency will apply to the Church, e.g., earnings per share, shareholder reporting, income tax accounting, etc. Nonetheless, the Church should adhere to all applicable transparency requirements and ideals.

The following information is presented to provide financial transparency for the Diocese of Covington. If you have any questions, please contact the Finance Office of the Diocese.

Mr. Dale Henson

Chief Financial Officer

Diocese of Covington

1125 Madison Avenue

Covington, KY 41011

[email protected]

(859) 392-1552