Per Archdiocesan Council Norms:
The Finance Council provides advice and guidance to the Pastor or Parish Director in the administration of parish assets. The council prepares the parish budget, any budgets for extraordinary expenditures, and reviews financial statements. The council monitors the financial condition of the parish, including regular financial reviews/audits as well as the internal financial controls by following the recommendations in the audit/review. The council provides assistance in the formulation and communication of an annual financial report to the parish community as required by canon 1287.2.
The council is the consultative body in all parish financial matters.
The council is comprised 5-7 members, all of whom must be baptized, practicing Catholics, registered members of the parish, participants in the parish worship life, especially Mass and the sacraments, and at least 25 years of age. Members are selected because of their familiarity with financial matters and financial expertise.
Per the OLOL Finance Council members, we summarize our responsibilities as:
- To monitor & maintain the financial status of the parish through prudent use of its monetary resources
- To understand & respect all groups’ & committees’ financial needs and help them meet their objectives
- To communicate regularly and transparently to keep parishioners informed and to invite them to play their vital role as stewards funding the parish’s ministries & mission.
The council meets 10 times each year on the fourth Tuesday of the month. Meetings last one and a half hours.
Finance Council Members