The Church is responsible for the financial resources which have been entrusted to it.
This responsibility includes safeguarding Church assets, exercising prudence in financial matters, accountability to those who provide financial support to the Church and compliance with all civil regulations and regulatory authorities.
Strong systems of internal controls are needed to safeguard assets by reducing the risk of fraud, misuse, waste or embezzlement. To this end the Parish Finance Committee exists to ensure that Diocesan regulations for parishes as well as financial controls and regulated processes are followed and maintained in their advisory role to the Parish Priest in the sound administration of the temporal goods of the parish.
The Parish Finance Committee assists the Parish Priest in his task of administering the parish finances, maintaining the Parish properties, planning for future capital works, formulating strategies for raising funds and preparing the annual statement of accounts for Parishioners. This statement is usually provided at the end of March.
The Parish Finance Committee is not directly involved in the day to day management of the Parish finances. Parish bank accounts and parish funds continue to be under the control of the parish priest. All spending requires the signature of the Parish Priest and that of a nominated member of the Parish Finance Committee.