Finance Council

 

GUIDELINES FOR ORGANIZATION AND FUNCTION OF FINANCE COUNCIL

 

Parish Finance Council

 

  • consists of 7 members: include 2 lay trustees and vice chairperson or member of Pastoral Council.
  • a quorum shall consist of 4 members
  • members be appointed by the pastor and serve a term of 5 years; members may be reappointed for one additional consecutive term
  • all members are to be lay and preferably parishioners
  • initial appointments be staggered to provide continuity of membership
  • minutes shall be kept of each meeting
  • there shall be at least 4 meetings each year.

 

Members of the Parish Finance Council

 

  • be skilled in the areas of finance, law and administration
  • no be an employee or spouse of an employee of the parish
  • no have extensive or exclusive business relationship with the parish that could be perceived as involving a conflict of interest 

 

Officers of the Parish Finance Council

 

  • be elected by the members
  • should include a vice chairperson and a secretary
  • the term can be one or two years, renewable one time

 

The role of the Parish Finance Council is consultative. The meetings of the Finance Council are called by the pastor or administrator who approves the agenda. While it is excepted that the pastor give due consideration to the advise of the council, the pastor alone, in concert with the pertinent regulations of the diocese, has the ultimate responsibility for all decisions affecting the finances of the parish.

 

Responsibilities of the Parish Finance Council--

 

  • Aid and advise the pastor concerning the administration of parish goods within the limits of Cannon Law, 1281-1288, and the directives of diocesan policies regarding finance, law and insurance.
  • In cooperation with the Parish Pastoral Council, research, prepare and recommend to the pastor the annual parish budget for both the operating and capital expenditures. The budget is to based on the goals and objectives determined by the Parish Pastoral Council as the council discerns what is needed to carry out the mission of the parish in liturgy, education, and service.
  • Periodically review income and expenditures to determine if the parish is operating with the approved budget. Provide parishioners with periodic (quarterly, semi-annual, or annual) reports on the financial position of the parish. Approve annual and special financial reports for submission to the diocesan finance office.
  • Make recommendations to the pastor for increasing revenues to meet both parish and diocesan goals and priorities.
  • Coordinate all fund raising in the parish, emphasizing the biblical context of stewardship of time, talent, and treasure.
  • Assist the pastor and parish staff in organizing annual diocesan Bishop Services Appeal.
  • Review and approve all banking arrangements, capital expenditures, and long-term contracts.
  • Review the program for maintenance o parish buildings and grounds.
  • See that a current inventory of personal and real property of the parish is maintained, and that the documents and deeds of parish ownership are properly filed and safe-guarded.
  • Occasionally the Parish Finance Council will be asked to study and approve what church law calls "acts of extraordinary administration." These acts ate defined as such church law and diocesan regulations. They include sale of parish property and major financial transactions. The pastor and the council should carefully study the law and the regulations in preparation for taking up such matters.
  • Provide aid and advice in other areas as requested by the pastor.