What is the financial relationship between SJN and the Diocese of Austin?
Although SJN and all other parishes operate as separate entities, we all take direction and receive support from the Diocese of Austin. In turn, SJN and all other parishes financially support the activities of the Diocese. In terms of our building project, the Diocese will act as our banker. The diocese secures construction and permanent financing for SJN. Although SJN is responsible for all debt incurred, debt incurred is in the name of the Diocese of Austin and is guaranteed by the Diocese of Austin. The Diocese of Austin provides SJN short-term construction funds as part of its line of credit through a national commercial bank. The Diocese of Austin maintains standard building, content and liability insurance coverage for SJN. The cost of these coverages is billed to SJN by the Diocese.
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