Finance Committee (FC)
Contact: Anne Peterson, Chair firstname.lastname@example.org
The role and duties of the Finance Committee are generally to provide recommendations regarding matters of financial consequence to the bodies of the Diocese consistent with furthering the mission and ministry of the
According to the
Constitution and Canons
3.4 Of the Finance Committee
Treasurer of the Diocese shall be the Chair of the Finance Committee.
Finance Committee shall maintain an
office of record and shall make an annual report to the Convention of
as it has performed under the specific direction of the Convention.
CANON 4.1 Of General
and Reviews (A) All accounts of the Diocese,
parishes, missions, and associated
organizations, having receipts, expenditures, or investments of at
at the close of each year shall be audited by a certified public
reviewed by some competent person approved by the Finance Committee…
4.3 Of Budgets (1) The
budget of the Diocese shall be
proposed by the Finance Committee, approved by the Annual Convention,
adopted by the Executive Council within thirty (30) days following the
Convention. The proposed budget shall be distributed to each
deanery at least forty-five (45) days prior to the Annual Convention.
CANON 4.4 Of Pledges
congregation shall annually make a
pledge to the Diocese.
Finance Committee shall set an
Asking level for pledges. The Asking shall be a percentage of the
congregation’s immediate prior year’s operating income.
income shall include plate offerings, pledge payments received,
contributions from organizations used for general budget purposes, and
from investments or endowments used for general budget purposes or
income shall exclude funds designated for building or other capital
gifts to endowment principal and trusts, special offerings not used for
operating purposes (e.g. UTO Ingathering), and borrowed money or
principal used for budget relief…
… (4) The
Finance Committee shall
notify each congregation, prior to October 30th, of the percentage to
in calculating the Asking level pledge for the next calendar year.
CANON 1.8 Of
Delegates from any congregation
shall not be entitled to vote in the Convention if the congregation (A) shall
have failed to pay its pledge to
the Diocese for the preceding fiscal year; or (B)
shall have failed to file its annual parochial report required by the
THE EPISCOPAL CHURCH with the Bishop of the Diocese on or before the
the Convention; or (C)
shall be in
arrears to the Church Pension Fund for any portion of the pension
for the preceding year or (D)
failed to file its annual financial review or audit report required by
canons of the Diocese with the Bishop prior to September 1st...
Convention shall be competent to excuse
such delinquencies by a majority vote, after consideration by the
practices consistent with
and recommends a Minimum Clergy Compensation Schedule
to the Executive Council that it considers appropriate for the Diocese.
consideration may include compensation standards across the church,
cost-of-living, inflation, and impact on tax liabilities for both the
and the congregation. The schedule sets the floor for clergy
the work of the Congregational Financial Review Team of
the use of non-CPA outside reviewers for congregational
a Budget to the Diocesan Convention and Executive
Council after consideration of
requests from congregations;
requests from committees, commissions and other entities
of the diocese;
level of the Asking amount for the upcoming year;
- Financial impact of economics (investments and
fluctuations in giving);
impact of personnel matters.
Finance Policies for Parishes and Missions of the
Diocese of Fond du Lac for approval by the Executive Council.
other items of financial consequence that may be
requested of it by a committee, commission or entity of the diocese.
a member sit on the ad-hoc Investment Committee of
monthly reports from the diocesan office on the
financial accounts of the diocese for the purpose of awareness,
transparency and working knowledge when considering other financial
matters, the Finance Committee does not make decisions setting diocesan
or direction (except for establishing the Asking), but makes the
recommendations about such policies based on due consideration of the