DIOCESAN
FINANCES AND
SPENDING PRIORITIES
AN
ASSESSMENT AND A LOOK TO THE FUTURE
Many Catholics have called for better financial accountability
from diocesan leaders. Financial accountability involves more than
transparency and openness. It requires assurances that financial decisions
are consciously made with the values and priorities of the faith community in mind.
Catholics certainly recognize that our diocese
provides many valuable services, and supports many outstanding and
worthwhile charitable institutions. We also acknowledge that prudent
financial advice and the establishment of reserves are an essential
part of maintaining the financial health of our diocese.
While we do not question the financial
expertise, good faith, or integrity of Finance Council members, we do
see the need for
the
formation of a representative Diocesan Finance Council
that would, among other things, look at diocesan finances from a
broader
perspective.
A DIOCESAN COUNCIL
THAT REFLECTS THE PRIORITIES OF
THE ENTIRE FAITH COMMUNITY
STATEMENT OF FORMATION, MISSION
AND RESPONSIBILITIES
FORMATION
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The council will consist of twelve voting members
(4 per vicariate) elected on a rotating parish basis by parishioners.
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The council will also have two non-voting members,
one of whom shall have a financial background and one of whom
shall have
familiarity with Diocesan operations.
These two members will
be appointed by the elected members to provide the council with
background and advice regarding
diocesan
financial matters and operations.
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The members of the council will serve for three
years. However, to assure continuity in the operations of the
council, the initial members of the council will serve for one
year (4 members), two years (4 members) and three years (4 members).
To assure that the most qualified candidates are elected, the
diocese will publicize the search for such candidates throughout
the diocese using parish bulletins, The Long Island Catholic and
other appropriate media.
MISSION
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To serve in an advisory capacity to the Bishop and his Finance Council on financial and related matters, particularly as they apply to the spending priorities
and financial condition of the diocese,
the welfare of the faithful and related community needs.
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To provide an avenue of communication between
the diocese and the faith community to ensure transparency and
openness.
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To evaluate all diocesan financial statements
and related financial information for the purpose of (a) making
recommendations to the Bishop and his Finance Council regarding
the maintenance of an appropriate balance between current and
future needs
that reflect the values and priorities of the faith community
and (b)
making other recommendations as appropriate.
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To review the diocesan budget process to assess
compatibility with Gospel-based principles.
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To review the financial accounting and reporting
practices of the diocese to assess compliance with best practices
and to serve as a catalyst for the implementation and execution
of open and transparent reporting practices.
RESPONSIBILITIES
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Once established, the council will draft a charter
describing its responsibilities consistent with the mission of
the council noted above. The council will periodically review
such charter, and the council will implement appropriate changes.
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As a minimum, the charter shall address the following
areas:
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Number of meetings
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Selection of a chairperson
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Voting and/or decision-making processes
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Maintenance of minutes
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Reporting findings and recommendations to the
bishop
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Diocesan budget
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Diocesan financial statements
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Diocesan independent and internal audit responsibilities
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Diocesan accounting procedures and internal controls
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Legal and regulatory matters potentially impacting
the diocesan financial condition
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Best practices reporting guidelines
and
values-based financial management guidelines
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Communication and interaction with the diocese,
its Finance Council and the faith community
3. Other responsibilities as determined
by the council.
