What is the Finance Council?
The Finance Council is an organization that, pursuant to Canon Law, assists and advises the Pastor in managing the financial affairs of the parish, including the school. The Finance Council is an advisory body to the Pastor who is responsible for final decisions.
The Pastor appoints the members of the Finance Council. The Council, the Pastor and the Business Manager meet on a regular basis and specials meetings are called to discuss extraordinary matters.
Typical items discussed at the meetings include:
· The review of the financial reports of the parish
o Operating budget for the year
o The actual year-to-date financial statements including cash/investment balances
o Revised profit projection for the year
o Capital projects and financing sources
· Fundraising matters
· Matters relating to the Archdiocese – financial transactions with the archdiocese, archdiocesan policies & procedures, deanery meetings, annual Together-in-Mission appeal
· Banking matters
· Any issue that might arise pertaining to accounting or finance
In summary, the role of the Finance Council is to advise and assist the Pastor in the effective management of the finances of the parish.
The current Financial Council is composed of men and women with varied background in the world of finance bound by their love and dedication to St. Stephen Parish. Each will serve a term of 3 years beginning in 2015:
Chair: Marilyn Gamboa
Secretary: Kristenne Alvero
Members: Christy Bernardo, Mabel Ng, Armando Romo, Carlota Romo