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To: All pastors, principals, parish administrators and business managers
From: Michael Warren, Director of Financial Services, Office of Finance
Attached you will find the insurance, retirement and other budgeting rates schedule that the archdiocese publishes annually to help you with your budget preparation for the next fiscal year.
The remuneration policy with priest salaries, SECA and 403b maximum match will be sent separately this year.
Please create your 2020-2021 budgets in the ParishSoft Accounting system, and submit your final version to Patrick Warner by Thursday, May 31. We prefer you send the information electronically to pwarner@archatl.com.
The archdiocese continues to have a combined $150,000 deductible (or “loss retention”) for each and every property and liability claim. The parish/school deductibles and roof claim deductible are as follows:
PROPERTY CLAIM DEDUCTIBLE: $5,000 per claim.
SPECIAL EVENTS DEDUCTIBLE: $50,000 per claim for events where special events coverage was not obtained, but should have been; otherwise is $5,000.
AUTO DEDUCTIBLE: $500 for auto claims for vehicles insured through the fleet insurance policy.
ROOF CLAIMS: Coverage for roof claims is prorated depending upon the age of the roof. Most roofs are guaranteed for 25-30 years. For example, if a 30-year roof was installed in 1990 and sustains significant storm damage in 2020 (30 years old), then that roof is fully depreciated, and only a minimal amount of insurance coverage would be provided.
Similarly, if a 30-year roof sustained damage at 15 years (so 50 percent depreciated), then the parish/school deductible would be valued at half of the replacement value and the other half would be paid out of the insurance fund. It is important for each location to know the installation date on the roofs of each building, as they are not likely all installed in the same year.
QUESTIONS
If you have any questions, please call me at 404-920-7411. Patrick Warner, Susan Shirley and Carolina Figueroa will coordinate, as requested, budget workshops in March and April at the chancery and will also schedule an online session for those who would like to request and participate remotely via computer.
Thanks.