The revised Code of Canon Law requires that a parish finance council be established in every parish. This parish finance council is to be distinguished from the parish pastoral council which is recommended for parishes and which concerns itself with overall pastoral life of the parish. Whether or not a parish has a parish pastoral council, it must institute a parish finance council.

Archdiocesan Norms for the Parish Finance Council:

There should be at least three members, chosen and appointed by the pastor. These members should be chosen from the faithful of the parish on the basis of their experience and expertise in financial matters, property management, and/or civil law. They should be appointed for a term of one year, which may be renewed annually up to five years. It is best if the membership changes are staggered. Those chosen should be members of the parish, persons of the highest integrity, and representative of the membership of the parish.

Persons who are actually involved in the financial management of the parish such as the bookkeeper or accountant, may not be members of the parish finance council, but they should serve as resource persons.

Since parochial vicars are to be involved in the financial planning of the parish, they should be kept fully informed of the activities of the finance council.

The principal responsibilities of the parish financial council are as follows: a) to assist the pastor in rendering an account of the finances of the parish to the local ordinary b) to assist the pastor in making appropriate reports to the faithful of the parish at least annually concerning parish revenues and expenditures c) to assist the pastor by providing counsel, when requested, concerning the general care and administration of parish property and finances.

Suggested ways in which the above-mentioned responsibilities can be fulfilled: a) assist the pastor in the preparation and arrangement of data for the annual budget b) assist the pastor by providing counsel in regard to the following: 1) major decisions concerning parish collections 2) significant administrative issues 3) alienation of assets and property 4) decisions concerning acts of extraordinary administration c) assist the pastor by reviewing on at least a semi-annual basis the financial status of the parish.

Relationship to parish pastoral council: Since the parish finance council is separate and distinct from the parish pastoral council, the pastor should ensure appropriate cooperation and communication between the two councils. Members of the finance council may also be members of the parish pastoral council.