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psrs5SHrasses?gsss ~jrrrsrrra~fc-^-. DPC Continued from page 1 this process will establish the TGA goal for the year. Father Mulligan pointed out that this move will tie the TGA goal more directly to diocesan operations. If the ap- peal is unable to meet its goal, the diocese will be forced to reduce funding to or elim- inate programs with low priorities. To assist the divisions with establishing priorities for the 1989/90 fiscal year, the task force surveyed DPC members and the 16l parishes of the diocese about which programs they use and consider important. Father Mulligan shared the results of the DPC survey with council members, but , said the parish surveys were for internal use only and had been shown to diocesan division directors. The task force for budget revision will evaluate the effectiveness of the new bud- get process this year, Father Mulligan said. He also requested DPC members' written input on a draft mission statement the dio- cese is currently developing. When com- pleted, he said, this mission statement will help set objectives and priorities for future budgets. The task force will also develop a staffing review process and merit pay system for employees for future budgets. \It's really unjust to pay everybody the same whether you're doing a good job or whether you're doing an awful, job,\ Father Mulligan remarked. DPC members responded positively to the new budgeting process. Ted Miskell of St. Mary's, Geneseo, for example, noted that \it's time to consolidate and stream- line\ the budgeting process. He suggested that the diocese) will need to adopt such an approach because it \is getting close to the limits of its resources.'' Margaret Joynt, of St. Louis, Pittsford, likewise approved of the new system, call- ing it an improvement over the 'older process. She also appreciated being able to give input into the diocesan budget before it is created, pointing out that in previous years DPC members had complained be- cause the budget had already been decided before being brought to the council. \I think it was a real consultative THOUGHT ED A NEW SSION... Lois of people who drove into AAMCO thought the same thing. But more than half of them did not purchase a rebuilt transmission. Because often, a minor problem mimics the same symptoms as a major transmission problem. That's why AAMCO started the Multi-Check diagnosis. So you may not need a major overhaul. AAMCO will tell you what you need . . and give you an exact price Before the work is done\ And should trie diagnosis reveal an internal transmission problem, you'll receive a firm price quote for a rebuilt or recondrboned transmission. \At an affordable price, toa So come in for an MMCOMdrK»ieck diagnosis. lt'$ smart to bum jrour tftcMon on feci* not *w. EspacM- Qf MfflMI MCti ArV AML •On mow toM-modei and manual *hift canvttwra will be » charge H «n Internal emmlnaUon Is needed tor » film pile* quote. snrnw Won 4 sAtn out ot tus! gest ShiftsIboSoon Eicessrve WmteEtfOust Smoke Skips a Gear HarrJorHarsri. Reverse Engagement >Won I Go in Drive or Reverse Won 1 Start m Park or Neutral. Starts m Onve or Reverse No Passing Gear Slays in first Gen WontSnrtl - roaaucMiK Vacuum Hose leak Oefetttve vacuum ModulaToi Banc Misadiusled Stint linkage -Misadiusteg Passing Gear Linkage UsarJiusterJ Tmonie Lmkage MisarJiusted HUCEt I2S10 Domestics $15-123 Imports 119-530 JIS427 Safeguard Service and Band Adjustment Adiust S10-J13 Admst S4-S10 Adjust 14 $10 - •Prices will vary depending on year and make of car H«y,T>ptemi«c«i««dr>yinri*»fntttrt^ a trarnrnMon overhaul may be required THEAAMCO MUOHMECK DIAGNOSS: IT C0S1SY0U NOTHING TO SAfE A LOT. Offer good at the following independently owned and operated AAMCO Transmissions Centers WORLD'S LARGEST TRANSMISSION SPECIALISTS We Are Approved For Most Extended Warranty Service! 325-4620 In AAMCO I flPaWajIWtWPHifwII S. M. E CO Jay «euttl Blvd. 342-6140 424-1750 Auburn E.Bochtrttf Gr—ce 88 Grant Aw. 388 W. Commercial St 1521 ML Read Blvd. 31M6MS35 3K-S772 2S44290 Thursday, February tb, 1989 ^f cetera process (this year),\ she said. ^Father Mulligan) presented us wi& information and asked for our input ahead%f%tae. That was exciting.\ The DPC also heard a report from Judy Kollar, director of the Department of Con- tinuing Education, about a job description for parish administrators being written by the Development of Ministers Committee of the Personnel Commission. She distri- buted a draft document outlining the re- sponsibilites of the administrators, which will include pastors, priest leaders who serve as the canonical pastors of two or more parishes, and pastoral leaders, a title that will comprise parish administrators who are not priests and who will be ac- countable to priest leaders. The diocese, Kollar noted, is in the process of developing this job description in preparation for the day when, due to de- clining numbers of priests, some parishes will be administered by deacons, religious or lay people. Pastoral leaders will need professional training to fill the position, and the diocese is developing a basic for- mation program for these leaders. She pointed out that 510 people now working for the diocese in such positions as pastoral assistants: or\ religious education directors already'have the training and education heeded. j Kollar asked DPC members to read the draft and to submit any recommendations or criticisms to the Development of Minis- ters Committee. Following Kollar, John Crowe of the Bishop's Education Commission presented the history of the commission and the process it is using to implement proposed changes for me diocesan Catholic school system. He acknowledged that some schools will be closed, and mat parishes without schools will have to cooperate to support Catholic'schools. This cooperation might entail flat fees or assessments based on the number of pupils attending Catholic schools, Crowe said. In addition, he noted that the Five Year Financial Planning Task Force has called for the creation of a $20 million endowment fund to help support Catholic education, and that the De- velopment Office will be seeking money for this fund within the next few years. Crowe said the diocese is moving away from a system of parochial, parish- centered schools, to a diocesan school system, and pointed out that changes in the system must be made immediately. \We see this as a crisis,\ he said. \I don't want to talk doom, but we've proba- bly got a two-year window to save the whole process, or it will fall apart.' * m e know a bank in Australia that pays 12.4% on short-term CDs. § Guaranteed, ir And the minimum deposit is only $5,000. 3r Australian banks are safer than U.S. savings institutions. Their government backing is rock solid. Their interest rates are higher and, with Australia s dollar rising against the U.S. dollar, you can get an even greater return on your savings, jf THE FINANCIAL TREND MONITOR / F YOU are the sortofconservative saver who keeps money in certifi- cates of deposit, you have been settling for a puny 6% $9,$%, interest oh your money. You don'S have to anyinore, A 12.4% CD! Banks, in Australia are paying substantially higher interest rates. One bank in particular, the Rural and Industries Bank of Western Australia, is currently paying 15% on 6 month CDs. After non-resident taxes and currency exchange fees are deducted, your net interest is 12.4%. , A RISING CURRENCY. In addition to a higher guaranteed return, you have a chance of even greater return if the Australian dollar continues to rise against the U.S. dollar. The Aussie dollar has been ris- ing against ours since mid-1986 and most analysts expect a continued rise during 1989. 32% IN 1988! If you had put $10,000 in an Australian bank on the first day of 1988, and. kept it there all year, you would have got back $13,212. Your 32% gain would have included $1,467 from interest and $1,745 from the increase in value of the Australian currency during the year. GOVERNMENT GUARANTEED! Your money is safer in Australia than it would be in. a MS. bank or thrift First tougher banking laws make Australian banks very 1 ! sound.' There have been no bank failures in Australia since 1933. Pfot one! If year in the U.& there were J failures of banks and thrifts. Second, every penny'of your deppsit, including both principal and,interest, is guaranteed by thei Australian government. How gooql is the government guarantee? •—t— 1987 —1— 1988 —I— 1989 iters Australia 'K&i- is bead , , UI , 11U „ ,., -„.„Jv-owned by it? .ha. Founded in. <i»4 R&l :sthel.\ * of $6 l AUSTRALIAN DOLLAR Australia's currency his been rising against the US dollar since 1986. In 1988 alone it rose 17%! The Central Bank has raised interest rates to restrain inflation due to a housing boom. As «<• result, savings hive been attracted from everywhere to Australian banks by the higher interest rates. This is clear evidence that a higher return does not necessarily mean a higher risk. IRONCLAD! The Australian law protecting your deposit is simple. One sentence It requires the government to make good all debts of any commercial bank doing business in Australia. Every penny is guaranteed, no matter how large your deposit. In the U.&, there is a $100,000 limit on government guarantees. Finally, it's the Australian trea- sury that directly guarantees your deposit, not an insuring entity like our FSLIC and FDIC Australia's economy is commodity-based. It is rich in natural resources and a major exporter of wool, wheat, coal gold, diamonds aivJmuyothfjrawmiteriakComiMdltypfkeshawbfMri^ since early 1987. Wool is up 1409b in the oast two years. This has resulted inlarget l export profits to Australian producers who are now enjoying wider profit margins. Higher commodity prices eliminate the need for governments to devalue their currencies. This greatly reduces currency risk. SHORT TERMS, LOW MINIMUM DEPOSITS. Rural and Industries Bank of Western Australia currently offers the highest rates available in Australia on 6-month certificates of deposit (Due p a surplus of long-term money? longer term deposits actually pay less than short-term CDs.) INTERESTED? Further information is available from The Financial Trend Monitor, a San Diego-based advisory news- letter which focuses on high- yielding bank yields in^Australia and other 'countries worldwide. Tb receive a free copy of out- recent research report, call toll-free 1 (800) 373-2460 between 9:00 AM and 5:00 PM Pacific Time. M -FINANCIAL TREND ^>^Z MONITOR 8950 Villa La Joila Drive, Suite 1200 La Jolla, California 92037 1 (800) 373-2450 © 1989 Financial trend Monitor
