What financial policies has the archdiocese established to avoid committing such large amounts of funds to single projects like this in the future?

Archbishop Vigneron has implemented new policies and procedures regarding the management of archdiocesan operating funds, its Loan Deposit Program, endowments and other accounts.

These reforms exceed standards required by canon law statutes and the U.S. Conference of Catholic Bishops in areas of diocesan financial responsibilities, including consultative consent on some financial issues.

The governance of financial management at the Archdiocese has been strengthened by reorganizing archdiocesan financial operations as well as the archdiocesan Finance Council. The level of engagement of the Finance Council has increased significantly, and it is working in close collaboration with the Archbishop, the Moderator of the Curia, and the College of Consultors to provide greater oversight and guidance to the Archbishop regarding the financial affairs of the Archdiocese. The Moderator of the Curia is the equivalent of a chief operating officer in the private sector.