The role of the Finance Council is to aid the Pastor in the administration of parish goods. In its advisory role, the Finance Council assists the pastor in the preparation of the annual budget, the creation and communication of periodic financial reports and protection of parish temporal goods. The Finance Council is to reflect the broad-based ideas of the parish community, and acts as a consultative resource for the pastor.
Financial Operating Report
Karen Smith, President
Matt Miller, Vice-President
Role of the Finance Council
Under the direction of the Pastor, the Finance Council serves as a consultative and advisory committee to the Parish. In its role, the Finance Council shall provide professional expertise, guidance, and recommendations for financially sound policies and procedures to the Parish Council and all active committees, organizations, and affiliated operations of the Parish.
Finally, in regard to its membership, the Pastor will approve all Finance Council membership, taking into consideration the recommendations and needs of the committee.
Duties of the Finance Council
The duties are listed below. This is only a partial list, and may be adjusted by the Pastor.
Review and analyze periodic and annual financial reports, financial statements, projections and trends provided by the Finance Director. Make recommendations to the Pastor, Parish Council, and Finance Director based upon review of such information.
- Provide expertise to support the Finance Director and Parish:
- In the preparation of periodic and annual financial reports and statements, and in the preparation of financial information for distribution to the parish community and ministries.
- In the review, financial development, and preparation of the annual Parish Budget.
- In preparing information and recommendations of the Parish Budget for review by the Parish Council and Pastor.
- Serve as a resource for the Finance Director, Parish Council and Pastor.
- Review of parish financial expenditures (over $2,500), including vendor contracts, offers of employment (both replacement and new positions) prior to making a financial commitment and to provide recommendations to the Finance Director, Parish Council and the Pastor.
- Review of all major Capital expenditures ($5,000 & over), and provide recommendations to the Pastor, Parish Council, and Finance Director.
- Provide support to the Finance Director by designating one Finance member to serve on contract review (annual project).
- Provide guidance and support to the parish by seeking opportunities for grants and other potential opportunities. Make opportunities known to parish staff/ministries, and assist in developing grant and other proposals for funding to the parish.
- Provide professional expertise & support to the Finance Director by providing guidance with:
- Appropriateness of revenue related items, including school, Religious education, and athletic fees
- Employee Benefits review and recommendations, including health insurance, life, disability, pension, and worker’s compensation, etc.
- Parish Property, Casualty, and Liability policies.
- Overall employee compensation, including salary surveys and comparisons, and the development of proposed parish pay structures.
- Overtime compensation issues, including monitoring of exempt/non-exempt status.
- Employee policies and procedures.
- Review of the finance policies, procedures, and standards for operating Parish accounts throughout all organizations.
- Provide assistance to the Finance Director by assisting in the development and monitoring of Archdiocesan taxes and responsibilities.
- Conduct financial reviews on special projects & issues, & provide recommendations to the Pastor, Parish Council, & appropriate staff.
- Provide a positive and supportive image to all parish groups, ministries and staff in all Finance Council activities.