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FINANCE COUNCIL

The purpose of the Parish Finance Council is to assist the pastor or administrator in the administration of the temporal aspects of parish life. It is a consultative body whose members consist of 6 to 10 parishioners and staff members with expertise in temporal affairs, e.g. financial management, business administration, construction, real estate or law. The pastor or administrator is ex-officio the president of the council, Parishioners on the council should have been registered in the parish for at least three (3) years, but staff personnel need not be members of the parish. The general responsibility of the Parish Finance Council is to assist and oversee any and all aspects to maintain the fiscal health of the parish. These include but are not limited to:

-Provide guidance for parish accounting system
-Review job descriptions, salaries and benefits for parish employees in accordance with diocesan guidelines
-Reviewing income and expenses to determine that parish and school operates within its budget
-Provide financial reports to diocese and parish
-Promote principles and practice of Christian stewardship
-Coordinate ALL major fund-raising projects
-Periodically review inventory of parish assets
-Reviewing bank accounts of parish and its organizations and ensure that accounting practices is in compliance with diocesan guidelines
-Consult in “acts of extraordinary administration” such as sale or purchase of property, construction and renovation of parish facilities
-Assess internal controls and procedures for compliance with diocesan policies
-Follow up on recommendations resulting from diocesan directed financial review