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Finance Council

St. Paul Parish Finance Council Bylaws

 

STATEMENT OF POLICY

The St. Paul Parish Finance Council was formed to assist the pastor who is the administrator of the goods in the parish.  The Finance Council shall operate under the provisions identified herein.

PROVISIONS:

It shall be called the Parish Finance Council of St. Paul Parish

The Parish Finance Council is to be a separate entity from the Parish Pastoral Council, but work in collaboration with it and be responsible directly to the pastor.

Its role is advisory and consultative to the pastor

 MEMBERSHIP

The members of the Parish Finance Council should be animated by a Christian spirit and be deeply conscious of the mission of the parish to promote the works of the apostolate and of charity, especially towards the needy.  Parish Finance councils will be constituted as follows:

The pastor is ex-officio/President of the committee.  The Church Administrator will also serve as ex-officio/member of the Council.

Membership is to consist of a minimum of three and a maximum of ten including the pastor.

 Members of the Parish Finance Council are to be competent in financial matters and civil law.  Half of the members are to be freely appointed by the pastor and the remainder may be appointed or elected.  Members shall serve for fixed and renewable terms of no less than one year and no more than three years.

Within three months of taking possession of the parish, a new pastor must confirm the existing appointments or make new appointments to the Parish Finance Council.

The council members shall elect a chairman and secretary.

Members should be drawn from the parish community.  This requirement may be waived in the event special expertise if all other conditions are met.

If the Parish has a Parish Pastoral Council, one member of the Parish Finance Council must be a member of the Parish Pastoral Council. (This can be one or both of the ex-officio members)

All members are bound to observe discretion in any confidential matters they treat as members of the Parish Finance Council.

A member may be removed from the council prior to the expiration of his/her term of office only with the approval of the Pastor an/or majority of the finance council members.

MEETINGS:

The St. Paul Parish Finance Council shall meet a minimum of six times per year and written minutes are to be maintained in the parish office.

GENERAL FUNCTIONS OF THE PARISH FINANCE COUNCIL:

It is the function of the parish Finance Council to assist the pastor in the administration of the goods of the parish:

To ensure that the parish is following the St. Paul Parish Financial Procedures Policy Statement as approved by the finance council.

To review, approve, and coordinate the parish annual budget in consultation with other groups and in accordance with the goals set by the Parish Pastoral Council.

 To review the quarterly financial reports and to formulate the annual financial report.  This will include income and expense and compare to budgets in prior year.  This will include review of capital budgets.

To review periodically the income expenditures in light of the annual budget.

To review expenditures and contracts over $10,000 in a year.

To encourage support of diocesan fund raising projects as well as parish campaigns.

To inventory parish assets at least annually and verify that appropriate insurance coverage has been maintained for said assets.

SPECIAL FUNCTIONS OF THE PARISH FINANCE COUNCIL:

The pastor is to consult with the Parish Finance Council in order to perform the following acts of financial administration:
To institute parish financial campaigns, drives or systems of special collections.

The following also requires either the Bishop’s signature or written approval:


To make any extraordinary expenditure including capital repairs- $10,000 or over.

To sign any contract related to a capital project that exceeds the financial limits of $10,000

To use fixed capital for any reason beyond that to which it was initially dedicated by the donor or competent authority

Any act of extraordinary administration reserved to the competency of the Diocesan Bishop in accord with the norms of law.