The Finance Council develops sound financial policies and practices that embrace the needs of the community. They are responsible for budget preparation and oversight, review of financial reports including the financial aspects of the annual report, and long-range planning, including capital expenditures and contracts.
According to Canon 537, each parish should have a Finance Council to "aid the pastor in the administration of parish goods."
According to Canon 536 of the Code of Canon Law, Parish Councils should exist in every parish. In this way, the people of the parish are consulted "in order for the Church to have the fullness of God's light and guidance." Thus, the Pastoral Council is the advisory body to the pastor, offering him the wisdom of the community. The Parish Council is responsible for long range planning and seeing the bigger picture of the parish.
To further clarify:
1) Purpose: The Council draws upon the wisdom of the community, continually clarifying the mission of the parish, developing goals, and furthering the implementation of the goals.
2) Prayer and Study: Spiritual reflection, common prayer, and study are important, substantial, and integral parts of all Council meetings.
3) Representation: The Council discerns the movement of the Spirit through representation, "making present" the community in all its diversity.
4) Assemblies: The Council takes its major direction from periodic assemblies open to all parishioners.
5) Consultation: The Council engages in a process of consultation. For guidance in discharging his responsibility, the pastor seeks and embraces the consensus of the Council. The council offers their collective reflections for the development of mission, goals, and policies.
6) Presiding: In presiding over the Council, the chairperson facilitates the consultation process by actively seeking the counsel of the members, encouraging frank and spirited discussion, and fostering unity.
7) Chairperson: By structuring and moderating the Council meetings, the chairperson assures a smooth and timely flow of Council business and full participation of all members in the process of consultation and consensus.
8) Scope: Deliberations of the Council focus on matters of planning, policy, and coordination.
9) Agenda: Council deliberations follow specific and public agendas focusing on parish mission, long-range goals, and attainable objectives, all by means of a well-planned meeting process.
10) Decision-making: The best decisions in the parish arise from a consensus of the Council. When consensus fails, and a decision must be made, the pastor decides the issue in light of the Council's work.