Diocesan Resources
Diocesan Financial Management: A Guide to Best Practices (2019)
Diocesan Financial Management: A Guide to Best Practices
The DFM (formerly DFI) was developed by the Committee on Budget and Finance (CBF) of the United States Conference of Catholic Bishops (USCCB), in conjunction with a sub-committee, the Accounting Practices Committee (APC), and it was initially approved by the full body of bishops at its November 2002 General Meeting. The DFM was authorized for publication by Msgr. William P. Fay, General Secretary, USCCB.
This manual is published as an aide to diocesan Financial Officers, Religious Treasurers and other personnel responsible for the financial administration of dioceses and religious institutions of the Roman Catholic Church in the United States. As mentioned above, the DFM was initially adopted in November 2002. However, each year the APC updates the contents of the DFM for the approval of the CBF. The most recent update was drafted in April 2019. Its contents are based upon generally accepted accounting principles in the United States at the time of its annual updates.
The DFM is not intended to be a comprehensive document addressing all financial administration matters that might be encountered by dioceses or religious institutions in the administration of their finances. Rather, it is intended to be a document that addresses and offers best practices in financial administration matters that could be considered unique to dioceses and religious institutions. As such, it is recommended that the DFM be used in conjunction with other authoritative guidance. The APC has recommended Practitioner’s Publishing Company’s (PPC) Nonprofit Financial and Accounting Manual, in order to access guidance to accounting and financial reporting matters that are common to all nonprofit organizations. To obtain this Guide, call 1-800-431-9025, or go to www.ppcnet.com. Other authoritative guidance materials are commonly available.