FINANCE COUNCIL

St. Mary’s Finance Council assists the Pastor in the administration of parish temporal matters. An active, well-formed Parish Finance Council is a key element for promoting the financial health of a Parish, assuring accountability and assisting the pastor with his temporal responsibilities.

The Finance Council members are required to be members of our Parish and are selected by the Pastor. They may have experience in business and finance but most importantly, they work closely with the Pastor, who is accountable to the Diocesan Bishop for the administration and stewardship of the temporal goods of the Parish.

If there is interest in becoming part of Finance Council, please contact our Pastor or a member of the Finance Council.

Activities of members of Finance Council:

Advise on strategies that reduce the cost of recurring purchases.
Advise on the management of parish funds and banking arrangements
Assist with the preparation and review of the parish’s annual budget and annual report.
Assist in the formulation and communication of the Annual Financial Report to the parish community.
Review periodic financial reports e.g. balance sheet, income statements, comparisons to budgets as well as prior year results and cash flow analysis.
Consult on the construction or renovation of parish facilities and rental agreements.
Assist with the planning for repair, replacement, or service of property and equipment to ensure that the parish buildings and property are adequately maintained.
Review maintenance and utility costs seeking to minimize costs through preventative maintenance and energy conservation.
Advise on the implementation of risk management programs and recommendations.
Assess effectiveness of existing fund-raising programs and recommend new programs or changes to existing programs if revenues are insufficient.
Support parish and diocesan stewardship program.

Hours of Commitment:

Preparation for and attendance at quarterly meetings (2 to 3 hours per meeting)
Preparation and attendance at annual meetings to go over year-end financial reports and the annual budget (2 to 4 hours)

Please contact Ana Grandfield @ 219-938-1373