Financial Council/Consejo Financiero

Canon 537 of the Code of Canon Law mandates a finance council in each parish. The following is from the Archdiocesan Administrative Manual, Chapter V.

A. Purpose- The primary purpose of the Finance Council is consultative. it assists the pastor with parish financial administration of its goods.

B. Functions- The Finance Council meets at least 4 times per year (more as needed) to:

1.Assist the pastor in the administration of parish goods in accordance with the norms of Canons 1281 to 1288.

2.Assist the pastor in the preparation of a yearly budget of income and expenditures. An overview of the proposed budget should be shared with the Pastoral Council.

3. Assist the pastor in the preparation of the required annual financial report of revenues and expenditures for dissemination to the parishioners.

4. Review the financial statements and budget on a quarterly basis. Provide a general year-to-date expense vs. budget report to the Pastoral Council on a quarterly basis.

5. Study parish revenues and make recommendations for increasing revenue to meet both parish and archdiocesean goals and priorities. Encourage support of parish and archdiocesan stewardship programs. In addition, the parish should have annual stewardship programs for time, talent, and treasure.

6. Annually, with the pastor, complete the parish/school questionnaire and submit findings to Archdiocesan Office of the Internal Auditor.

C. Membership- The Finance Council consists of not less than three members of the parish who are practicing Catholics, experienced in financial issues and known for their judgment.

1. Each council should determine its leadership by an appropriate process. Leadership should include a:
a. Chairperson
b. Vice-Chairperson
c. Recorder

2. Members are appointed by the pastor for a three-year, renewable term or until there is a change in the pastorate.

3. If a member is removed from the Council by the pastor for a serious reason, notification is to be given to the Archdiocesan Chief Financial Officer (CFO).

4. Excluded from membership are persons who could have a conflict of interest from such affiliation. Also ineligible for membership are staff members and any close relatives of the pastor. The bookkeeper and/ or the administrator should attend at least part of the meetings to provide explanation to any financial questions.

5. The Chairperson of the Finance Council is to attend the Pastoral Council meetings when input will enable the Finance Council to fulfill its responsibilities.