The purpose of the Finance Council is consultative to the Pastor to help ensure that the financial affairs of Our Lady of the Assumption are properly conducted, supervised and reported. Through proper management
of the parish's financial affairs, the Finance Council is able to assist the Pastor, Pastoral Council and community in fulfilling the parish's Mission.
The Finance Council may ensure that a budget is prepared for each fiscal year for the church. The budgets reflect projected sources of income, both ordinary and extraordinary, operating expenses, capital improvements, debt service and ongoing cash position. The Finance Council endorses each budget and recommends them to the Pastor for implementation. In addition, the Finance Council monitors performance against the budget on a quarterly basis and reports on the performance to the Pastoral
Council. The Finance Council is also responsible for preparing and distributing to the Parish annually a Stewardship Report which summarized the past performance and the current budget.
In addition, the Finance Council shall be responsible for development of stewardship campaigns to ensure adequate revenue to meet parish needs.