Annunciation of the Lord Finance Council acts as a resource to the pastor, offering council and advice. The council monitors parish offertory collections/income and expenses. The members also maintain an ongoing evaluation of the overall parish financial status. In the case of extraordinary (non-budgeted) expenditures, they evaluate the feasibility and determine the best sources of funds to pay for necessary proposals. They also monitor in/out transactions, such as secondary diocesan collections, mission offerings, etc., to ensure that these monies are properly reported and dispersed.
They will recommend the most prudent use of monies and assets the parish is authorized to retain, so as to maximize their potential and use in parish ministries. They also make budget recommendations of monies to be allocated to replacement reserves for parish equipment and responsible for parish capital improvement budget.
The Finance Council will meet with the Pastoral Council twice a year to share the financial condition of the church. However, throughout the process the Finance Council will maintain contact and have intimate discussions with the Pastoral Council and Stewardship Committee.