Parish Finance Council Charter for 2016,St. Monica Parish

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ST. MONICA FINANCE COUNCIL
CHARTER - 2016
Purpose Statement:
According to Canon Law,theparish … “which is governed,in addition to universallaw, by normsissued
by the diocesan bishop and in which the Christian faithful,selected according to these samenorms,are
to assistthe pastorin theadministration of the goodsof the parish (Canon #537).” The Parish Finance
Council(PPC) existsto supportthePastorin this endeavoras good stewards of theparish.The PPC
providesaccountabilityto theparishionersand diocese by optimizing thefinancial resourcesfor
fulfillmentof theParish Mission,and by providing counselto the Pastoron financial and related matters.
Deliverables- KeyResponsibilities:
1. Develop the annual parishbudget withinput fromthe pastor,parishstaff,Facilities
Committeeand Pastoral Council to ensure the efficientuse of parishresources in achievingthe
ParishMission(Task:Budget)
a. Collectinputfromthe Pastoral Council andparishstaff byApril 30
b. Collectfacilitiesmaintenance andcapital expenditureneedsfromFacilitiesCommittee
by April 30
c. Reviewparishemployee compensationbyApril 30
d. Developthe annual parishbudgetbyMay15
e. Communicate the annual parishbudgettothe parishandarchdiocese byJune 1
f. Update the parish5-yearplanby October2014
g. Communicate tothe parishand archdiocese byendof July.
2. Ensure the accuracy of parishfinancial recordsin order to provideinsighton the financial
healthof the parish (Task:Financial Review/Audit)
a. TogetherwithParishBusiness/FinanceManager,review monthlyfinancialstatements
comparingactual to budgetand prioryear (income statement,balancesheetandcash
flowforrestrictedandunrestrictedfunds)within30days of monthend.
b. Reportany financial anomalies,concernsorsignificantvariancestothe Pastorand
Finance Council.
c. Reviewandsignoff onthe annual Archdiocesanreportforthe parishwithin60 daysof
yearend
d. TogetherwithParishBusiness/FinanceManager,review general ledgerdetail and
reconciliationof accountsquarterly.

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3. Communicatefinancial results tothe parishand archdioceseand other relevant constituencies
(Task: Financial Reporting).
a. Work withParishBusiness/Finance Managertoproduce quarterlyandannual financial
statementswithcommentaryfordistributiontothe parishthroughthe bulletinand
website andArchdiocese within45days of quarterand year-end.
b. Ensure promptsubmissionof annual Archdiocesanreportforthe parishwithin60days
of year-end.
4. Oversee the 5-Year Capital Campaign tooptimizethe resources availableforthe achievement
of the parishmission (Task:Stewardship)
a. Work withParishFinance/BusinessManagertoprovide oversightof the 5-YearCapital
CampaignincooperationwithCunneenCorporation.
i. Monthlyreviewpledge redemptionprogress
ii. Monitorlost pledges onmonthlybasis(Update providedbyBusinessManager)
iii. Monitornewparishionerappeals (Update providedbyBusinessManager)
b. Reviewandadjust parishprogramforelectronicgivingbyJune 2014
5. Sync 5-Year Capital Campaignandparishbudget withparish5-year Master Planin order to
maintainpropercash flowand to ensure a proactive, coordinatedmatchingofparishfunding
with parishspiritual,pastoral andtemporal needs.
a. Work withParishFinance/BusinessManagertoprovide oversightof the 5-YearCapital
CampaignincooperationwithCunneenCorporation.(Task:Stewardship)
b. Work withParishBusinessMangerandParishWebmastertocommunicate tothe parish
on monthlybasisthroughuse of Pastor’sFlockNote,website andTwittercapabilities.
(Task: Financial Reporting).
6. Together with ParishBusiness/FinanceManager,annuallyreviewaccountingandinternal
control systems by June in order to ensure compliancewith archdiocesan guidelines (Task:
Financial Review/Audit) [ Still open: month?]
a. Conductannual reviewof accountingprocessandinternal controlsespeciallyregarding
cash and blankcheckhandlingagainstbestpracticesasrecommendedbythe
Archdiocese
b. Reviewbank accountsigners.
c. Reviewasample of parishcreditor debitcardsand invoicestoverifythatall expenses
were forparish(notpersonal) purposes.

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7. Together with ParishBusiness/FinanceManager,annuallyreviewtaxand regulatory
complianceforthe parishin order to ensure compliancewitharchdiocesanguidelinesand
federal andstate laws (Entire FinanceCouncil) [ Still open:month? ]
a. Reviewtax proceduresforwithholdingforpayroll taxes
b. Reviewproceduresforissuance of 1099-MISC Federal Formsforcontractors
c. Reviewparishcompliance forreportingof charitablecontributionstoparishioners
8. Monthlyreview any majorparish financial transactionsinexcessof$10,000 prior to execution
includingexpenditures,leases,new employeepositions or other financial commitmentsin
order to ensure the efficientuse of parishresources in achievingthe parish missionand to
ensure compliancewith archdiocesan guidelines (EntireFinanceCouncil)
9. Oversee financial activityofparishgroups andministries in order to ensure compliancewith
archdiocesan guidelinesandconsistencywiththe parish mission guidelines(Task:Financial
Review/Audit)
a. Reviewannual budgetforauxiliarygroupswithexpensesover$1,000.
b. Reviewbankstatementsandannual reportforauxiliarygroupswithexpense over
$1,000
10. Initiateannual discernmentprocess for introductionofnew ParishFinance Council membersto
ensure compliancewithCanonLaw; ensure fulfillmentofPurposeStatement andprovide a
seamlesstransitionto followingfiscal / operational year(Task: FinanceCouncil Chair)
a. MeetwithPastor aboutprocess(EarlyJanuary2016)
i. Reviewcurrent“Charter”includingPurpose Statement,deliverablesand
guidelines
ii. Discussenvironmental chances(SWOTAnalysis)
iii. Discusschangesand adjustmentneededinCharter
iv. Rewrite andsubmittoFinance Council (JanuaryMeeting)
b. BeginDiscernmentProcess(Pastor –February,2017)
c. Reviewbankstatementsandannual reportforauxiliarygroupswithexpense over
$1,000
11. Annual spiritual activityforParishFinance Council (togetherandin collaborationwithother
parishorganizationsperhaps?) to provideproper stewardshipof parishresources (inthis case,
the actual members ofthe FinanceCouncil), ensurethat spiritual focusof FinanceCouncil and
the personal relationshipofthe members withJesus Christis maintained. (Task:Finance
Council Chair)

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Team Operating Guidelines:Thisdefinesthe meetingstructure andtiming,problem-solvingprocess,
policyfor makingdecisions andresolvingconflictsandany other operatingguidelines.
 Meetingswill be heldmonthly, onthe 3rd
Thursday eachmonth, 9 timeseachyear(more
frequentlyasneeded)onthe basisof a schedule arrivedandagreeduponafternew Finance
Council membersare appointedinApril eachyear.
 An agendaandthe mostrecentfinancial statementswill be providedtothe council members
before eachmeeting.
 Minuteswill be takenatall meetingsandpublishedonthe parishwebsite afterapproval bythe
Finance Council
Team Norms and Ground Rules:This outlineshowthe PFCwill communicateand share feedback,deal
with commitmentandinvolvementof members, set tone and celebrate successes.
 Role of Employees
o Parishemployeesare notmembersof the Finance Council.
o ParishBusinessManagerwill providethe Finance Council withregularfinancial
statementsandaccessto financial documentationasneededwithin areasonable time
frame.
o ParishFacilitiesManagerwillprovidethe Finance Councilwithinformationregarding
facilitymaintenance requirements asneededwithin areasonabletime frame.
 Confidentiality
o Finance Council membersmustmaintainconfidentialityonmattersdesignatedas
confidential
 RecordRetention
o The ParishBusinessManagershouldmaintainrecordsincludingminutesandfinancial
statementsforfuture reference.
Agenda (90 minutes.Meetingsheldin parishrectory):
 “The GoodNews”- Individual Council Members: 5minutes
 Prayer,SacredScripture,Tradition, Quiet- 15 minutes
 Reporting(See below) - 20 minutes
 IPDS(“Identify - Prioritize - Discuss - Solve”) 45 minutes
 Conclude - (RecapTo Do List;Messaging to 5 minutes
Parish;Score Meeting)

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Reporting:
 Finance Council Team Scorecard (Council Chair:5 minutes)
o Is “what’simportant”on track?
o If not,issues dropsdown to IPDS
 Personal “TaskReview” (ResponsibleCouncil Members: 5minutes)
o Is “what’s important”on track?
o If not,issues dropsdown to IPDS
 Parish/Finance Council “Headlines” (Individual CouncilMembers: 5minutes)
o 1-Sentence
o Any“Hot Issues”dropdownto IPDS
 ReviewLastMonth’s To-DoList (Council Chair:5 minutes)
o 30 Day “ActionItems”
o 90% fromlastmonth shouldbe complete
Finance Council Tasks:
Each of the Deliverables/KeyResponsibilitiesandtheirrelatedactivitiesis assignedto one of the
“Task” areas listedbelow.
Each “Task” area isto be assignedto at least one memberof the Parish Finance Council.That member
will be responsible forthe oversightand completionofactivitiesassociatedwith that particular
“Task” area.
Tasks:
 Financial Review/Audit- Ensure the accuracy of the financial informationandadequacyof
financial controls.
 Financial Reporting – Provide timelyreportingof financial resultstoarchdiocese andparishto
ensure transparencyandoversight.
 Budget – Maximize the effectivenessof the allocationof future resourcesof the parish.
 Stewardship/Fundraising– Ensure adequacyof resourcesforthe parish mission.
 The Facilities / PropertyCommittee:
o While notofficiallyapart of the Finance Council, the Facilities/PropertyCommittee
worksinclose cooperationwiththe PFC.
o A memberof the FPC will be presentatall Finance Council Meetings whenrelevant
mattersneedingclose cooperationandcommunicationare pending.Tofacilitate
scheduling,representativesof bothgroups alsohave the option will meetpriortoeach
Finance Council meeting.

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Membership:
 Finance Council will be comprisedof 8– 12 memberswithstaggeredterms. Eachmembermay
serve upto 2 two-yearterms. Atthe endof the firsttwo-yearterm, the Pastormayofferthe
Finance Council memberthe optiontoextendeitherasecond two-yeartermora one-year
term.
 Finance Council memberswillbe selectedbythe PastorfromSaintMonica parishionerswho
have eitherappliedorhave beenproposedbyParishFinance/Pastoral CouncilsorParishStaff,
basedon the applicants’financial knowledge andrelevantskillsandcommitmenttoattendat
least75% of the Finance Council meetings.
 In orderto enhance communicationbetweenthe FinanceCouncil andthe Pastoral Council,one
Pastoral Council memberwill make abestefforttoattendeach Finance Council meetingand
one Finance Council memberwill make abestefforttoattendeachPastoral Council meeting.
 Officers
o The Finance Council will be leadbythe Chairpersonwhowill be selectedbythe Pastor
at the recommendationof the priorChairperson.
Parish Finance Council Calendar:
January - Conductannual review of tax andregulatorycompliance
February - Begindiscernmentfornew Finance Council Members
March/April - Publicize needfornew memberstoFinance Council (bulletin,mass,Parish
website)
- Requestapplicationsby2 weeksbeforeEaster
- Announce new Finance CouncilmemberatEaster
- CollectinformationforbudgetprocessfromPastor,staff,Pastoral Council,
and FacilitiesCommittee
- Reviewcompensation
May - Develop nextfiscalyearparishbudget
- Hold“electronic”Sundaytopromote electronicgiving
June - SubmitnextyearbudgettoArchdiocese andshare withparish
July -
August - SubmitArchdiocesanreportforthe ParishbyAugust31
September - Late Sept,conductparishpledge drive
- Reviewannual budgetandprioryearannual reportforparishgroupsand
ministrieswithexpensesover$100
October -
November -
December -

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Council Chair: _____________________________ (2016/2017)
Members: Term: Email: Phone:
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Ex Officio:
 TheresaCarey tcarey@saintmonicachurch.org
 Fr. CharlesZlock pennpadre25@gmail.com
 Scribe:
 Timekeeper: