Finance Council

According to the Diocesan Financial Policy Manual adopted May 31, 2018:

Financial Policy Manual
Page 6, Section 2- FINANCIAL GOVERNANCE
2.1. Policy With the exception of the Drexel Schools, the Pastor or Minister of Parish Life is both the primary administrator and the spiritual leader of the Parish and the Parish School, if any. These are important responsibilities that the Pastor or Minister of Parish Life is not permitted to delegate. Further, because Parish Schools are considered an integral part of the spiritual mission of any Parish, the Pastor or Minister of Parish Life does not have the authority to transfer this responsibility to someone else, such as a School Principal.

Note: Drexel Schools are an exception to Policy 2.1. When the School associated with a Parish is a Drexel School, the Pastor or Minister of Parish Life is not the primary administrator of the School. The Pastor or Minister of Parish Life, however, will always be the primary spiritual leader of the School even if it is a Drexel School. The Superintendent of Schools is the primary administrator of the Drexel School.

Pages 7,8 Section 3- PARISH FINANCE COUNCIL

3- PARISH FINANCE COUNCIL
Note: These policies set forth the purpose and responsibilities of the Parish Finance Council and the qualifications required of its members. Canon 532 requires that the Pastor or Minister of Parish Life ensure that all Parish goods are administered in accordance with canons 1280—1288. Canon 537 requires each Parish to establish a finance council to help the Pastor or Minister of Parish Life administer the goods of the Parish. The Diocese refers to these councils as “Parish Finance Council.”
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3.1. Policy Each Parish is required by canon law to have a Parish Finance Council.

3.2. Policy Members of the Parish Finance Council shall be members of the Parish community who have been baptized in the Catholic Church (canon 204), who remain in communion with the Catholic Church (canon 149), are not barred by a legitimate sanction (canon 96) and who have demonstrable skills or expertise in financial management, finance, civil law, and/or general business matters and are of impeccable integrity.

3.3. Policy The Parish Finance Council shall be made up of between three and nine people, in addition to the Pastor/Minister of Parish Life, the Parish administrator, the Parish accountant, and Parochial Vicar(s). No Parish employee or member of the immediate family of a Parish employee may serve on the Parish Finance Council. No members of the Parish Finance Council may be related to the Pastor/Minister of Parish Life.

3.4. Policy Members of the Parish Finance Council shall be appointed by the Pastor/Minister of Parish Life for a fixed term of two to three years and may not serve more than two consecutive terms. Terms are to be staggered for council continuity and member rotation. Members may be terminated by the
Pastor/Minister of Parish Life “at will.”

3.5. Policy Each Parish Finance Council will regularly review the Parish Financial Statements, but no less than quarterly, and help the Pastor/Minister of Parish Life develop the Parish Budget.

3.6. Policy Each Parish School must submit Financial Statements to the Pastor/Minister of Parish Life and Parish Financial Council regularly throughout the fiscal year, but in no case less than once a quarter. Annually, each Parish School must submit to the Pastor/Minister of Parish Life and the Parish Finance Council on or before June 30, the School’s proposed budget for the next year, and on or before July 31, the School’s year-end financial statements.

3.7. Policy Members of the Parish Finance Council are permitted to serve as volunteers in other capacities with the Parish [i.e. lectors, ushers, catechists, etc.] if such other role or roles do not create a conflict of interest.

3.8. Policy The Pastor/Minister of Parish Life is required to consult with the Parish Finance Council on the following matters:
1) Any unbudgeted, undisclosed commitments of Parish resources in excess of $10,000;
2) The management of funds that the Parish is authorized to retain and manage;
3) The Annual Financial Reports and Annual Budget of the Parish; and
4) The Annual Financial Reports and Annual Budget of the Parish School, if any.

The Parish Finance Council shall assist the Pastor/Minister of Parish Life in reviewing and formulating the Annual Financial Report provided to the Parish community, as required by canon 1287. Except as provided above, the Pastor/Minister of Parish Life remains the juridical author

 

Annual Parish Financial Report

2017-2018

The Church’s financial year ended on June 30, 2018. The parish records were reviewed by the Finance Council this summer and they confirmed that the parish maintains its financial records according to Diocese requirements and that appropriate controls are in place to safeguard parish resources. A report of last year’s operations, the 2017-2018 budget and the 2018-2019 budget are provided on the reverse side. In addition, we have provided a graph of revenue (excluding restricted donations), expenses and basket collections over the past four years. The parish ended the year with approximately $3,148,510 in cash, of which approximately $2,762,105 is on deposit with the diocese.

 

2019 Parish Finance Council

We greatly appreciate all of your support to St. Frances Cabrini through meaningful gifts of Time, Talent, and Treasure. The final financial report for the summer renovation projects will be provided by Fr. Michael to the parish later this Fall.

If anyone has unanswered questions after reviewing this report, please contact
Fr. Michael Hendrickson at 408-879-1124.

Current members of the Finance Council include Fr. Michael Hendrickson (Pastor), Sean Cook (Chair), Tim Smith, Carlo Pedron, Jennifer Nickolas and Renee Rodriguez.

 

Finance Committee

The Parish Finance Committee meets quarterly to advise the pastor on financial matters and ensures that the parish follows the financial and money-handling policies set by the Diocese of San Jose.  Committee members serve renewable three year terms.  Parishioners who are interested in becoming members of the committee or attending a meeting should contact the pastor.  SFC School has a separate School Finance Committee with the same responsibilities.  That committee reports to the pastor, school principal, and School Advisory Committee.

2018-2019 Committee Members

Current members of the Finance Committee include Fr. Michael Hendrickson (Pastor) and the Parish Finance Council – Sean Cook (Chair), Tim Smith, Carlo Pedron, Jennifer Nickolas and Renee Rodriguez.

Annual Parish Financial Report

2017-2018

The Church’s financial year ended on June 30, 2018. The parish records were reviewed by the Finance Council this summer and they confirmed that the parish maintains its financial records according to Diocese requirements and that appropriate controls are in place to safeguard parish resources. A report of last year’s operations, the 2017-2018 budget and the 2018-2019 budget are provided on the reverse side. In addition, we have provided a graph of revenue (excluding restricted donations), expenses and basket collections over the past four years. The parish ended the year with approximately $3,148,510 in cash, of which approximately $2,762,105 is on deposit with the diocese.

If anyone has unanswered questions after reviewing this report, please contact Fr. Michael Hendrickson at 408-879-1124.

2014 – 2015

The Church’s financial year ended on June 30, 2015. The parish records were reviewed by the Finance Council this summer and they confirmed that the parish maintains its financial records according to Diocese requirements and that appropriate controls are in place to safeguard parish resources. A report of last year’s operations, the 2014-2015 budget and the 2015-2016 budget are provided on the reverse side. In addition, we have provided a graph of revenue (excluding restricted donations), expenses and basket collections over the past 8 years. The parish ended the year with approximately $2,966,656 in cash, of which approximately $449,477 is designated. (A separate report documenting the school operations is available through the Development Office.)

2012 – 2013

The Church’s financial year ended on June 30, 2013. The parish records were reviewed by the Finance Council this summer and they confirmed that the parish maintains its financial records according to Diocese requirements and that appropriate controls are in place to safeguard parish resources. A report of last year’s operations and the 2013-2014 budget are provided on the reverse side. In addition, we have provided a graph of revenue (excluding restricted roof donations), expenses and basket collections over the past 6 years. The parish ended the year with approximately $804,000 in cash, of which over $237,000 is designated. (A separate report documenting the school operations is available through the Development Office.)

2011 – 2012

The Church’s financial year ended on June 30, 2012. The parish records were reviewed by the Finance Council this summer and they confirmed that the parish maintains its financial records according to Diocese requirements and that appropriate controls are in place to safeguard parish resources. A report of last year’s operations and the 2012-2013 budget are provided on the reverse side. In addition, we have provided a graph of revenue (excluding restricted roof donations), expenses and basket collections over the past 6 years. The parish ended the year with approximately $610,000 in cash, of which over $170,000 is designated for the roof repair. (A separate report documenting the school operations is available through the Development Office.)