As of 2020, the cathedraticum is a 15.5% assessment on parish income such as Sunday offertory and building fund collections for the previous fiscal year.
Non-assessable income is from jamaicas, fundraisers, insurance recoveries, grants, DCA payments, and second collections.
Parishes are billed for the entire year's assessment each July. The parish decides on payment arrangements to ensure the total is paid by June 30.
What does the cathedraticum fund?
The cathedraticum funds the administrative departments of the diocese:
Clergy - Admin
Catholic Renewal Center
Office of the Bishop
Administration of the Annual Catholic Offering for Ministries
Catholic Pastoral Center
Bishop ’s Residence
Dues, Memberships, Gifts
Deposit and Loan
The Joan Patton Finance Center
The cathedraticum was established in 2020 because the DCA was unable to fund the diocese. The Diocese of Lubbock continued to operate with a line of credit.
Bishop Coerver implemented a cathedracdium to cover necessary administrative expenses. The DCA was abolished and replaced with the Annual Catholic Offering for Ministries.