About This Ministry
The Finance Council provides advice and assists the pastor in the administration of the temporal goods of the parish. The council is to meet at least quarterly. Members of the council commit to:
- Fulfilling their duties in a sound legal and moral manner
- Functioning with a concern for Christian justice and concern for those in need
- Maintaining confidentiality
- Studying the social teachings of the Church, especially in regard to labor issues.
The council is guided by the following interrelated canonical principles:
- Respect for the intention of the donor governing parish financial expenditures and the administration of the church property
- The treatment of the parish as a distinct entity in regard to financial transactions and property issues.
Council members are provided access to relevant diocesan norms in regard to:
- Accounting and financial procedures
- Personnel and payroll issues
- Planning and Building Commission directives
- Risk management, contracts, insurance and liability issues.
The council is to have access to:
- All records and documents relating to financial status and operational issues
- Information regarding the status of all employees
- Information regarding the condition of buildings and property
- All contracts
The council is to:
- Work collaboratively with the Pastoral Council
- Provide financial advice to the staff, ministries and associations
- Make themselves available to parishioners so that they might bring up matters of concern
- Act in accord with the will of the pastor, with the right to express opinions to the bishop in matters of concern.
Duties of the Finance Council include:
- Providing advice in the preparation of the annual budget
- Conducting quarterly reviews of financial records
- Providing an annual financial report to the bishop
- Providing an annual report to parishioners
- Inspecting the annual safety inspection
- Reviewing an annual inventory of property
- Assisting the pastor in preparing a three year financial plan
- Advise the pastor in matters regarding stewardship and development
At St. Theresa the Finance Council consists of from five to nine members, who meet monthly. They are very active in reviewing regular financial reports including capital expenditures. Together with the Business Manager they:
- Produce an annual budget for the parish and the diocese
- Produce a detailed annual report including finances, ministries and stewardship for the parish
- Ensure that regular weekly offertory reports are provided to the parish
Work closely with the Building and Planning Committee monitoring property issues.