Checks for investment income will be arriving soon in parish mailboxes. On May 20, the diocese authorized Morgan Stanley to process more than $125,800 in distributions from funds the parishes have pooled in diocesan accounts.
"We are now caught up on Pool One distributions; in fact, we're ahead," said diocesan treasurer, Carl Hockenberry. This latest income covers the first half of 2011. The checks are being issued five weeks early before the second quarter ends.
Pool One income had been frozen for nearly five quarters while control of the funds was disputed in court. In the year since a judge determined our diocese to be the rightful trustee of the funds, diocesan leaders have been working to restore timely payments to all fund participants.
The current payout will be distributed proportionally according to the size of individual funds held by 34 parishes and church-related organizations.