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22 FINANCIAL REPORT 2015 ARCHDIOCESE OF DENVER ARCHDIOCESAN FINANCE COUNCIL AND ITS SUBCOMMITTEES Canon Law requires every diocese to have a finance council to advise the archbishop. In the Archdiocese of Denver, the Archdiocesan Finance Council (AFC) functions in accordance with a wrien charter to advise Archbishop Samuel J. Aquila. The AFC provides policy guidance for the work of subcommiees and currently consists of 13 individuals, including 12 of whom are lay people. The AFC meets at least quarterly and functions as an advisory board to the archbishop. Its primary duty is to review the financial and operational performance of the archdiocese as well as all public juridical persons established as such by canon law and recognized by the archbishop. Such review is conducted through a series of reports submied by the commiees that are intended to advise the archbishop on significant financial maers. The council members represent a broad cross section of Catholic business executives from small, medium and large-sized companies present in northern Colorado. Professionals practicing in the fields of law, accounting, investment and real estate management are also members. Most serve or have served on their respective parish councils, in Catholic agencies or with other nonprofit boards of directors. The archdiocese also has a governing body of priests, the archbishop's College of Consultors, which provides advice and guidance on the finances of the archdiocese. The work of the five subcommiees of the AFC is an important element in developing and fine-tuning the strategy used to address the various resource issues confronting the archdiocese. Each commiee chairperson is a member of the AFC and provides quarterly updates on their respective commiee's activities to the council. While these five subcommiees are the primary advisory bodies to the AFC, the work and service provided by the members of the Irrevocable Revolving Fund Trust Management Commiee, the Building Commiee, the Health and Welfare Benefits Trust Commiee, the Priest Retirement Commiee and the Lay Pension Plan Commiee are also integral to the ongoing stewardship efforts of the archdiocese. Finance Council Lowell A. Hare, chairman Very Reverend Randy Dollins, V.G. Wendy Dominguez Greg Gerken Reid Godbolt James S. Harrington Kevin Kuhn Kathy Lutito Keith Parsons Dave Runberg Jodi Thomas William G. Trainor Eric Zellweger Investment Commiee Eric Zellweger, CFA, chairman Mick Bleyle, CFA Charles Dahlman Very Reverend Randy Dollins, V.G. Kathleen Duggan Marvin, CFA Brian Rorick, CPA Accounting & Audit Commiee William G. Trainor, CPA, chairman Very Reverend Randy Dollins, V.G. Brian Callahan, CPA Kelly Kozeliski, CPA Andrew Newland Jeff Smith, CPA Adam Trui CFP, CPA Jacob Welp, CPA, MT Project Finance & Review Commiee James S. Harrington, chairman George Connolly Peter Furstenberg Rev. Frank Maroney Sam N. Perry George Shaw Mike Wisneski Robert Zarlengo Real Estate Commiee Gregory Gerken, chairman Adam Hermanson Msgr. Leo Horrigan Paul Kluck Kevin McCabe Edward Blieszner Compensation Commiee Reid Godbolt, chairman Very Reverend Randy Dollins, V.G. Lowell Hare Dave Runberg Dear members of the Church in northern Colorado: As members of the Archdiocesan Finance Council, we assist Archbishop Aquila and his staff in the oversight of the financial maers of the archdiocese. However, it is only through your generosity that the Archdiocese of Denver is able to carry out its mission. We hope this report provides you with useful information on the major issues relating to the financial affairs of the archdiocese over the last fiscal year. The Finance Council looks forward to working with Archbishop Aquila as he sets and executes goals to address the needs of the archdiocese. With your continued support, the Finance Council is commied to providing good stewardship and assistance to the archbishop and his staff in the financial management of the Church here in Northern Colorado. I would like to thank the members of the Finance Council and its subcommiees for volunteering their time and talent to the archdiocese. Sincerely, Lowell A. Hare, Chair Archdiocesan Finance Council Chairman