The Finance Council is comprised of laypersons who advise the pastor on matters pertaining to the financial affairs of the parish. The Council consists of six to eight members plus the pastor; they usually meet four times a year. The pastor appoints members, typically for three-year terms. The major responsibilities of the Council are to review and approve the parish budget and financial reports, ensure that parish finances are managed in an effective manner, review the financial position of the parish, and work to safeguard the financial assets of the parish. The Council also makes recommendations to the pastor regarding the investment of parish funds.

Committees of the Finance Council support the overall function of the Council. Chairs of the Committees are members of the Council. Committees report their activities to the Council, and the Council provides oversight of their activities. The following are current committees of the Finance Council.

• The Budget Committee is entrusted with the following responsibilities:
  1. To review as needed the implementation of the Archdiocesan bookkeeping and accounting system for all parish finances.
  2. To ensure that the Annual Financial Report is submitted to the Archdiocese in a timely fashion.
  3. To ensure that all requirements of federal and state law relating to parish finances are met and that accurate records of tax payment are maintained.
  4. To ensure that tax exempt forms, as required by law, are submitted to appropriate civil authorities and records of same for all church-owned properties are maintained.
  5. To safeguard the assets of the parish from loss or damage through appropriate review of insurance coverage.

• The Investment Committee is entrusted with the following responsibility:
  1. To monitor the deposit of parish funds in interest-bearing checking and saving accounts, and in other appropriate kinds of investment accounts; and to make recommendations for changes in deposit/investment strategies that might be necessitated by evolving economic circumstances.