9 LUMEN CHRISTI CATHOLIC PARISH Parish Audit Lumen Christi Parish is audited annually by our parish auditor Mr Kevin Mehl. The parish audit for 2022 was completed on 20 February 2023. The financial statements of the Lumen Christi Catholic Parish Wollongong are properly drawn up so as to present fairly the results of the parish for the financial year ended 31 December 2022 and the financial position of the parish at that date. In all material respects, the entity has complied with the Catholic Diocese of Wollongong Parish Accounting and Administrative Policies and Procedures. Auditors Management Review Key Points – Management Review • The deficit for the year was ($359,797) which was greater than the 2021 by ($267,351). Details of this variation are set out in the Income and Expenditure analysis. • There was a negative Cash Flow for the year of ($336,658) compared to a negative in 2021 of ($98,882), a negative movement of ($237,776). • All bank statements have been reconciled as at 31st December 2022 and cash holdings are correctly reflected in the Accounts. • Property valuations have increased by $21,559,806 for the year. • The Liability of $35,679 is calculated by the Diocesan Payroll Service. • Parish Income for the year was $819,512 which was less than 2021 by ($47,536). • Parish Expenditure for the year was $1,179,309 which was greater than 2021 by $219,816. • There was an increase in the Second Collection from $181, 356 to $251, 406
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