Finance Council
Finance Council - By-Laws
TITLE
The name of this body is “St. Dominic Finance Council”. The purpose and functions of the Council are those stated in the Parish Constitution and by-laws and further enumerated below.
PURPOSE
As
the advisor to the Pastor and Business Manager, the St. Dominic Finance
Council provides expertise to the financial administration of St.
Dominic Parish in light of parish needs, resources and priorities
MEMBERSHIP
The members of the Finance Council consist of the following:
*Pastor
*Business Manager
*Principal
Six voting members are appointed by the Pastor to serve three-year terms. Appointed members are those with special training and experience in financial and administrative matters. Each year in July, the Pastor appoints two members, a Chairperson, and a Vice-Chairperson. Each member may be appointed to an unlimited number of three-year terms. The Pastor appoints incomplete terms.
Membership as of November 1, 2007, are as follows:
*Fr. Jim Walsh, Pastor *Skip Roos, Bsns & Dev Dir *Al Grote, Principal
Frank Panzeca, Chair Betty Fraley, Vice Chair Dennis Eagan
Kim Luken
Jack Roch
Jim Wohlfrom
* Non-Voting Members
MEETINGS
The Council meets at least six times per year. These meetings are held the 4th Monday of July, October, November, January, April and May. The Pastor, Chairperson, or Business Manager may schedule additional meetings.
AGENDA
An
agenda for each meeting should be developed by the Chairperson and the
Business Manager. The agenda is made available to the Council members
in advance of the meeting whenever possible.
A normal agenda should include as a minimum the following:
Prayer/Reflection
Review of previous meeting minutes
Review of the Financial Statements of the Parish
Team Reports
Old Business
New Business
Adjournment with prayer
MINUTES
Formal
written minutes of each Finance Council meeting are maintained. The
minutes include at a minimum the meeting dates, attendance, and
official recommendations and decisions made.
FUNCTIONS
In order for the Finance Council to fulfill its purpose, its functions are as follows:
1.
Preparation / approval recommendation to the Pastor of the Parish
operating budget. The operating budget encompasses three annual plans;
the current operating year and the plan for the next two annual
periods. (Current Fiscal Year Budget and Projection for Next 2 Fiscal Years).
2.
Preparation / approval recommendation to the Pastor of the Parish
capital improvements plan. This plan projects capital expenditures for
at least three annual periods.
3.
The Council assists the Business Manager in the monitoring of the
financial operations of other Parish Organizations, including approval
/ coordination of all Parish and Parish Organization fundraising events.
4.
On at least a quarterly basis, reviews and analyzes actual versus
budgeted year-to-date for the Parish operating fund and other Parish
funds, and makes improvement / change recommendations to the Pastor.
5.
Provides expertise and consultation regarding the compatibility of
Parish financial resources to Parish goals, including any major program
initiatives prior to implementation.
6.
Provides assistance and recommendations concerning Parish business
accounting processes, reporting and communications of financial matters
and, as requested, provides expertise and consultation regarding
administrative policies and procedures.
7.
Provides the parishioners with periodic reports on the financial
position of the Parish and assists in the preparation of the annual
financial report to the parish. Also, reviews, makes recommendations and authorizes the submission of the parish annual financial report to the Archdiocese.
8. The Council will regularly review the availability of additional sources of revenue for the parish and school operations.
Revised 10/06