The Finance Comittee will ensure that:

1. There are, as a minimum, adequate annual revenues to meet routine annual expenditures;

2. An annual budget is prepared and approved prior to each new fiscal year and an approved financial statement will be completed and approved at the end of each fiscal year;

3. Adequate financial resources are maintained in reserve to meet unanticipated or unforeseen needs;

4. Financial resources are managed securely and openly so that parishioners are aware of how their sacrificial offerings are being used and managed.

5. Future capital investments are prioritized to reflect the desires of the parishioners and the pastor and are routinely shared with the Parish Council;

6. Close communication is maintained with maintenance personnel to ensure that our campus is a reflection of cleanliness and in excellent condition. Maintenance personnel need to attend all scheduled Finance Council meetings to provide updates on the maintenance situation and any construction projects;

7. Close rapport is maintained with the office manager as that person is vital in providing timely and accurate reports, answering questions, and ensuring that all we do is consistent the requirements of the Diocese;

8. Interaction occurs periodically or as necessary with the Parish Council;

9. The Finance Council has at least eight members including the Pastor and the Parish Council chair and the membership reflects the diversity of the Parish to the extent possible. The Pastor has the responsibility to select and remove members and currently there are no limits on tenure.

10. An annual action plan is developed for actions for which the Finance Council has responsibility.