From the Parish Councils Manual published by the Archdiocese of Milwaukee
finance council
"In each parish there is to be a finance council which is governed, in addition to universal law, by norms issued by the diocesan bishop and in which the Christian faithful, selected according to these same norms, are to assist the pastor in the administration of the goods of the parish (c.537)"
The finance council has five main purposes:
- To provide advice and guidance to the pastor in the administration of parish assets;
- To prepare the budget and review financial statements;
- To monitor the financial condition of the parish, including regular audits/reviews and internal financial controls;
- To review any indebtedness of the parish and assist the pastor in taking care of interest and capital payments; and
- To provide an annual financial report to the parish.
