Finance Council

Purpose
The Finance Council is to assist the Pastor in carrying out the work of financial administration in the Parish.  The Parish is a steward of gifts from God, including monies given it as offerings, the land and buildings it purchases and constructs, and the furnishings and equipment it acquires.  The purpose of ownership of these goods is the mission of the Parish itself, including provision for worship and the ministries of the Parish, the decent support of the clergy and others in ministry and the works of charity.  In its recommendations to the Pastor, the Council seeks to model the prudence, justice and care that all should exercise in the stewardship of their own resources.

Responsibilities|
The Finance Council shall:

·See that proper financial records are maintained for all Parish assets and liabilities, revenues and expenses in accord with the Chart of Accounts approved by the Diocesan Finance Office;

·Assist the pastor in developing a balanced Parish budget for each fiscal year according to the priorities and goals set by the Parish Pastoral Council and approved by the Pastor;

·Monitor the finances of the Parish by reviewing monthly comparison of actual revenues and expenditures with the budget, the investments, and the overall financial operation of the Parish;

·Review unforeseen expenditures not anticipated in the budget before they are approved;

·Assist the Pastor in compiling an Annual Report of the Parish’s finances which is to be sent to the Bishop;

·Provide to the Parish the Annual Report and other regular reports on the Parish’s financial status;

·Review the internal accounting controls over the Parish’s financial operations and will review in detail the books and records of the Parish so that it is assured that these are properly maintained;

·Exercise oversight over all Parish investments and all finances relating to the Parish or any other Parish programs done in the name of the Parish;

Membership
The Parish Finance Council is made up of at least five persons selected by the Pastor.  These members should be in full communion with the Catholic Church and members of the Parish they are to serve.   Persons are to be selected for their expertise in financial matters, economics, general business management, banking, law, insurance, accounting and financial investments.  In addition, members are to have prudence, uprightness and knowledge of the Catholic faith.  The Council shall have a chairperson, vice-chairperson and secretary.

Meeting Schedule
The Finance Council meets monthly on the third Thursday of the month at 7 p.m.  These meetings are not public, but parishioners may request to present an issue to the Council for its consideration.

Finance Council Events

Preparation of Annual Budget due May 15th each year. 

Preparation of Annual Report due August 15th each year