Each parish is to have a finance council which is regulated by universal law as well as by norms issued by the diocesan bishop. In this council, the Christian faithful, selected according to the same norms, aid the pastor in the administration of parish goods… – Code of Canon Law, 537
The parish Finance Council is a group of parishioners who offer counsel and recommendations to the pastor on financial matters as they relate to the life and mission of the parish. Members typically have a financial accounting or business background and are appointed by the pastor. The relationship between the pastor and the council is one of support and collaboration.
In fulfilling its responsibilities, the Finance Council is directed by the values of the Gospel as well as good business practices. Efficient and effective use and management of parish resources must be measured as much by their contribution to the parish’s mission and ministry as by commonly accepted business standards.
Principal responsibilities of the Council include:
- preparation of the annual budget;
- monitor financial reports and the annual budget on an ongoing basis;
- assist in the implementation of acceptable internal control practices including reviewing and implementing diocesan policies,
- assist the pastor in evaluating the impact on parish finances and administration of leasing parish properties to an outside organization;
- preparation and publication of an Annual Financial Report to the parish and the Diocese of Providence.