The parish Finance Committee is a consultative group of lay parishioners who help the Pastor exercise proper stewardship by giving him advice about financial planning, analysis and compliance with policy. The parish Finance Committee is advisory to the Pastor and its recommendations are valid only when accepted and ratified by the Pastor and, where necessary, the Board of Trustees.
The parish Finance Committee assists the pastor in administering the material resources and funds of the parish. The finance committee provides sound financial advice regarding budget, accurate accounting and compliance with diocesan policies and procedures. The finance committee assists the pastor in formulating and managing the parish budget. This group monitors expenditures and may also be asked to assist in various aspects of facility management.
As a result, finance committee membership is typically reserved to parishioners who possess the necessary technical expertise in accounting procedures, relevant laws, fundraising, investment, and other related business skills. The scope of responsibility for a finance committee is significant even in a relatively small parish. Still, the finance committee is an essential partner to the pastoral council and staff in planning
parish priorities, determining the feasibility of strategies, considering facility capabilities for events and evaluating program outcomes and sustainability.