Parish Finance Committee
According to Canon 537, in each parish there is to be a Finance Committee to help the Parish Priest in the administration of the goods, without prejudice to canon 532. It is ruled by the universal law and by the norms laid down by the diocesan Bishop, and it is comprised of members of the faithful selected according to these norms. Canon law requires every parish to have a Finance Committee. The role of the Committee is to advise and support the parish priest in the administration of the parish. The Committee’s roles is advisory, it cannot assume control or act independently of the parish priest. The members must also be fully aware of the confidentiality require by them. The Committee has no executive powers and all correspondence with the Diocese should be authorized through the parish priest.
The committee should consist of all parish clergy together with at least three lay people appointed by the parish priest. The parish Treasurer and Gift Aid Secretary would normally be members. In general, a mix of members with property, legal and financial skills between them is desirable. The core committee can be expanded on a temporary or permanent basis as required to include, for example, people to take on responsibility for fundraising.
At least four meetings (once every quarterly) take place every year.
The parish finance committee must keep accurate records and minutes of its meetings, and be ready to present them when requested by the Bishop or his representative or by anyone authorized to carry out a financial audit.
An active and well-formed Parish Finance Committee is an important and necessary support to the parish priest in fulfilling his duty of being a good steward of parish resources. A Parish Finance Committee supports the good governance of a parish and helps there be accountability to the diocese and to the parishioners.
In order to be effective in their responsibilities as Committee members, members should have a thorough understanding of the parish’s mission, goals, structure and demographics; knowledge of diocesan statutes and policies regarding temporalities; and a general understanding of the structure and organization of diocesan finances.
A well-structured and effective Finance Committee acts as good stewards of the resources that have been entrusted to the parish. This in turn builds confidence and trust, and allows the parish to accomplish its mission more fully
For further details, please refer: Parish Administration Manual issued by Clifton Diocese.