In accord with the Code of Canon Law of the Roman Catholic Church (Canon #537): Each parish is to have a finance council which is regulated by universal law as well as by norms issued by the diocesan bishop; in this council the Christian faithful, selected according to the same norms, aid the pastor in the administration of parish goods with due regard for the prescription of Canon #532. Canon #511-514 and Canon #536 address the responsibilities of the pastor in administering the temporal goods of the parish.
The Parish Finance Council is established in conformity with the Code of Canon Law and the directives of the bishop of San Jose to advise and assist the pastor of the parish in all matters pertaining to parish finances.
The Parish Finance Council is a consultative body to the pastor of the parish.
The Parish Finance council will be composed of the Pastor, (non-voting attendees: Parish Administrator, Parish Accountant) and from three (3) to nine (9) members. Members are appointed by the pastor after consultation with the Parish Pastoral Council. Members shall be parishioners with knowledge of accounting, finance, budgeting and/or development.
Terms of Office
Members shall serve for a term of three years. Members will take office on July 1st and may not serve more than two (2) consecutive terms. Terms will be staggered to insure continuity.
The Finance Council will elect its own chairperson who shall conduct the council meetings.
The Finance Council shall meet at least quarterly or as deemed appropriate. A record of the council’s recommendations and decisions will be kept on file in the parish office.
The Parish Finance Council will:
- Advise the pastor on parish financial operations;
- Assist in the development of the parish budget;
- Regularly review the financial procedures of the parish;
- Review and approve the annual budget for parish operating and capital expenditures;
- Monitor the budget on a regular basis;
- Make recommendations to the pastor on any expenditure in excess of $10,000.00;
- Regularly review all activities to ensure that federal, state and local tax considerations are properly handled where applicable;
- Assist the pastor in accounting for all endowments and restricted gifts;
- Provide regular reports to the Parish Pastoral Council;
- Provide an annual report to parishioners on the financial state of the parish;
- Ensure that all norms of the diocese are followed in parish financial record keeping;
- Perform the annual parish financial self-review and submit the report to the pastor and to the Diocesan Finance Office;
- Assist in the preparation and review of the parish development plan;
- Prepare an annual financial report bearing the Finance Council chairperson’s signature that is submitted to the diocesan Finance Office in a timely manner in advance of the forthcoming fiscal year.
The parishioners making up the Five Wounds Parish Finance Council are: