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Archdiocese of Indianapolis Fiscal Management and Discipleship Conference June 9, 2011

Archdiocese of Indianapolis Fiscal Management and Discipleship Conference June 9, 2011. Procedures for Building and Renovation Projects Archdiocesan Deposit and Loan Fund (ADLF). What is ADLF?.

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Archdiocese of Indianapolis Fiscal Management and Discipleship Conference June 9, 2011

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  1. Archdiocese of IndianapolisFiscal Management and Discipleship ConferenceJune 9, 2011 Procedures for Building and Renovation Projects Archdiocesan Deposit and Loan Fund (ADLF)

  2. What is ADLF? • Established to provide parishes, schools, and archdiocesan agencies with a source for low-cost funding of capital improvements and major renovations. • Parishes, schools and agencies fund the ADLF by depositing cash in excess of 90 days of operations

  3. ADLF Loans • For capital improvements & major renovations • 50/50 Policy • 3-5 Year Term • Variable Interest • Prohibited from borrowing funds from any lender other than the ADLF without the express written consent of the Archbishop

  4. ADLF Loan Request Worksheet • http://www.archindy.org/finance/parish/forms.html • 2 page worksheet • Project Cost • Interest Calculation • ADLF Deposits • Parish Cash • Construction Costs Paid • Pledges • Allowance for Uncollectible Pledges • 50/50 Policy

  5. ADLF Loan Review Committee • Subcommittee of Archdiocesan Finance Council • Includes members from Finance Council plus some at-large members from the parish community with backgrounds in finance, banking & construction • Meet once per quarter • Make recommendation to Finance Council • Final approval from Archbishop

  6. ADLF Interest • Variable Rate - Adjusted Quarterly • Deposit Rate • Discount Rate less 0.5% • Loan Rate • Prime Rate less 0.5% • Rates may be adjusted by Archdiocesan Finance Council and are currently adjusted so that deposit rate is not less than 1.0%

  7. ADLF Interest Current ADLF Rates (effective 4/1/2011 – 6/30/2011) Deposits: 1.00% Loans: 3.50%

  8. ADLF Loan Payments • Interest payments required during construction • Principal & Interest payments required once construction is complete • Monthly payments via electronic funds transfer

  9. ADLF Statements • DLS Online • http://archindy.info/DLS/authenticate.asp • User ID & Password obtained from OAS • Can view and print transaction detail and statements at anytime • Notified via email when month is closed

  10. ADLF • As of 4/30/2011 • $40.4m Deposit Balance • $39.8m Loan Balance

  11. ADLF Forms & Information • Archdiocese of Indianapolis Finance Website • http://www.archindy.org/finance/parish/forms.html • DLS Online • http://archindy.info/DLS/authenticate.asp • Deposit Form • http://www.archindy.org/finance/files/parish/general/ACH%20ADLF%20deposit%20form.pdf • Withdrawal Form • http://www.archindy.org/finance/files/parish/general/ADLF%20withdrawal%20request%20form.pdf • ADLF Loan Request Worksheet • http://www.archindy.org/finance/files/parish/general/Loan%20Request%20Worksheet%20-%202010%20Update.xls

  12. ADLF Contacts Rene Raychel rraychel@archindy.org (317) 261-3370 Fax forms to (317) 592-4035 Julie Laughlin – Assistant Controller jlaughlin@archindy.org (317) 261-3371

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