Each parish shall have a Finance Council, which is regulated by the universal law as well as by norms issued by the Bishop of the diocese of Winona.  In this council the Christian faithful, selected according to the same norms, will serve as an advisory group, which aids the pastor in the administration of parish goods.

The Role and Purpose of the Finance Council consists of several levels:

• For recurring, routine matters, the council’s advise is in the form of an annual budget;
• For acts of major importance, which affect the financial situation of the parish, the pastor consults the council.  He is not bound to follow the advice of the council, but should state reasons for rejecting advice; and
• For acts of extraordinary importance, those that exceed $10,000 and are not routine or recurring, the pastor should have the consent of the council, in addition to the proxies required by the Bishop and Vicar General.

Membership Eligibility:

• The council has at least three (3) members; lay, religious or clergy (other than the pastor)
•  In addition to integrity of life and involvement in the parish, each should be knowledgeable about financial and /or civil law affairs. 
• The pastor appoints the members for a three-year term; persons related to the pastor or having a direct financial interest in the parish should not be appointed.  All members will serve staggered three (3) year terms with four new members being discerned each year and four members rotating off council each year. 
• Members who have served a 3-year term may accept appointment or reelection to serve an additional 3-year term, but no member may serve more than two consecutive terms.
• Member’s terms do not end when the pastor leaves.  They remain a consultative group for the next pastor or for the parish administrator in the interim.

Composition and Duties of the Finance Council:

• The pastor, as president, sees to the preparation of the agenda and presides at each meeting, either personally or through a delegate.
• A chairperson may be appointed by the president to conduct the meetings.
• A secretary is appointed to take the minutes.
• Meetings are held regularly as determined by the president.
• Individuals or groups from the parish may be invited to address the council.
• Members are to be familiar with the finances of the parish including income and expenditures, investments and indebtedness, and diocesan obligations.
• While it is not a committee of the Pastoral Council, the Finance Council is to communicate and work closely with the Pastoral Council.
• The council is to advise the pastor in the following:
• drawing up a budget and making periodic financial reports to parishioners and to the diocese;
• long-range financial planning and fund-raising;
• compliance with civil laws in parish administration;
• seeing to construction and maintenance of parish buildings and grounds; and
• reviewing parish cemetery finances if parish oversees cemetery.

Transition to a New Pastor:

The council continues in existence even when no permanent pastor is assigned.  It cannot act on its own, but remains a consultative group for the parish administrator during the interim period before a permanent pastor is assigned and remains as a council for the new pastor.  It is not reconstituted when a new pastor is appointed.