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Archdiocese of Indianapolis Fiscal Management and Discipleship Conference June 9, 2011 Archdiocesan Deposit and Loan Fund (ADLF)

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Presentation on theme: "Archdiocese of Indianapolis Fiscal Management and Discipleship Conference June 9, 2011 Archdiocesan Deposit and Loan Fund (ADLF)"— Presentation transcript:

1 Archdiocese of Indianapolis Fiscal Management and Discipleship Conference June 9, 2011 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 Savings May have multiple savings accounts Deposits made via check or electronic funds transfer Withdrawals made via electronic funds transfer Interest earned and posted monthly

4 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

5 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

6 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

7 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%

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

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

10 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

11 ADLF As of 4/30/2011 ◦ $40.4m Deposit Balance ◦ $39.8m Loan Balance

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

13 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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