Letter from Archbishop Favalora

Published: 04.04.08

Dear Friends in Christ:

I am pleased to present the financial report of the Archdiocese of Miami for the fiscal year ended June 30, 2007. This annual report reflects the financial stewardship practiced in the Archdiocese of Miami.

In the wake of recent economic events, including the sub-prime mortgage crisis, declining property values, rising fuel costs, statewide property tax and insurance uncertainties, the past year has been difficult for many people. Individuals and families must decide on how best to allocate already stretched resources between physical sustenance needs and other discretionary spending.

Like individuals and families, the archdiocese must also decide on how best to allocate the resources, which you have so generously provided to the church in Miami, enabling it to provide for the spiritual sustenance needs of the faithful, including those less fortunate and most vulnerable. Our inner-city parishes and schools have especially felt the impact of the challenges that we are facing during these troubling economic times.

During the past year, we expanded the Archdiocese of Miami Finance Council to include additional financial, legal and pastoral professionals to advise on how best to preserve, protect and allocate those resources which you have entrusted to the church of Miami. In doing so, I remain committed and hold as the highest priorities our apostolates for the less fortunate and most vulnerable, as well as the continued life and vibrancy of our churches and schools.

Your sacrifical contributions not only provide for the church today but also ensure the continuation of the mission of the church well into the future. It is my prayer that our providential Father, who sees all things, will repay each of you for your generosity.

May the Lord continue to bless you and your loved ones abundantly. With personal good wishes, I am

Sincerely in the Lord,

John C. Favalora

Archbishop of Miami

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