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To: Pastors, principals, parish and school business managers
From: Michael Warren, Director of Financial Services; Patrick Warner, Parish Accounting Manager; Brenda Leslie, Controller; Office of Finance
To be transparent in the financial statements we ask business managers, as they prepare the year-end financial statements, to add the following items to the Balance Sheet to reflect the amount of their parish/school’s Paycheck Protection Program (PPP) Loan.
The asset (cash) from the loan should just be included in along with your other cash. The liability should be stated as a separate line item, either as PPP Loan or Paycheck Protection Program Loan.
Any questions about this, please let us know. Thanks and stay well.