Archdiocesan Finances

How much does the Archdiocese owe to outside entities?

In December 2011, the Archdiocese refinanced a municipal bond issue for the Pontiac Vision 2000 Schools project that initially totaled $22.1 million and had been paid down to approximately $10.4 million. By restructuring and reissuing these bonds, the Archdiocese eliminated its reliance upon a letter of credit from the bank, replaced a variable interest rate with a fixed rate, and reissued the bonds with a similar term (the time period for paying bondholders). The total amount owed on the bond is $4,688,942 as of June 30, 2019.  The bonds are set to mature in December 2020.