Diocesan Finance Council
As defined in the Code of Canon Law (c. 492 of C.I.C.) the Bishop of the diocese is to establish a finance council over which he himself or his delegate presides. It is comprised of faithful Christians, who are skilled in financial matters, civil law, and of outstanding integrity.
CODE OF CANON LAW
THE FINANCE COUNCIL AND THE FINANCE OFFICER
Can. 492 §1. In every diocese a Finance council is to be established, offer which the diocesan bishop himself or his delegate presides and which consists of at least three members of the Christian faithful truly expert in Financial affairs and civil law, outstanding in integrity, and appointed by the bishop.
§2. Members of the Finance council are to be appointed for Five years, but at the end of this period they can be appointed for other Five year terms.
§3. Persons who are related to the bishop up to the fourth degree of consanguinity or affnity are excluded from the Finance council.
Can. 493 In addition to the functions entrusted to it in Book V, The Temporal Goods of the Church, the Finance council prepares each year, according to the directions of the diocesan bishop, a budget of the income and expenditures which are foreseen for the entire governance of the diocese in the coming year and at the end of the year examines an account of the revenues and expenses.
Can. 494 §1. In every diocese, after having heard the college of consultors and the Finance council, the bishop is to appoint a Finance officer who is truly expert in Financial affairs and absolutely distinguished for honesty.
§2. The Finance officer is to be appointed for a Five year term but can be appointed for other Five year terms at the end of this period. The finance officer is not to be removed while in this function except for a grave cause to be assessed by the bishop after he has heard the college of consultors and the Finance council.
§3. It is for the Finance officer to administer the goods of the diocese under the authority of the bishop in accord with the budget determined by the Finance council and, from the income of the diocese, to meet expenses which the bishop or others designated by him have legitimately authorized.
§4. At the end of the year, the Finance officer must render an account of receipts and expenditures to the Finance council.
Purpose
The Diocesan Finance Council ("DFC") of the Diocese of Peterborough is an advisory body to the Bishop to provide him with advice on financial matters in order to assist him in fulfilling the mission of the Church entrusted to him in accordance with the Code of Canon Law and the Civil Laws.
Roles and Responsibilities of Diocesan Finance Council
To consider & make recommendations on the following:
The make-up and role of the Council/membership
The structures and format necessary to ensure the ongoing and future development of the Council
A recruitment policy (i.e. establish a criteria for the selection of members) and an orientation program for new members
The establishment of ad-hoc or sub-committees to address specific financial matters (operating and capital, investments, policies and procedures, other)
To study and make recommendations on:
The development of the annual budget and a 3-5 year financial plan
- To support current and future pastoral work
- To ensure the financial stability of the Diocese
- The investment of funds
The allocation of financial resources
- The availability of funds for the diocese and parishes
- The management and acquisition of capital assets, property and buildings
The preparation of a balanced budget (operating and capital) of income and expenditures, as anticipated for the fiscal governance of the entire Diocese
- The approval of the annual financial report, prepared by the administration of Temporal Affairs;
- The development of a standardized budgeting process for the Diocese and related offices and ministries.
- The development of a standardized budgeting process for parishes in collaboration with parish finance committees.
On a regular basis review policies and procedures, processes related to all diocesan financial matters that will result in accountability, sound stewardship and the prudent management of capital assets.
At the direction of the Bishop advise on technology, software/processes to ensure a strong accountability between the parishes, diocesan offices/committees and the Bishop on matters financial (operating, personnel and capital)
- To assist parish in dealing with fiscal realities (i.e. financial, personnel, and physical or capital) and
- The improvement of communication between the Office of Temporal Affairs with diocesan offices, ministries, committees and councils (i.e. Diocesan Property, Planning & Building Committee, Council of Priests, College of Consulters).
Council Positions
Bishop of the Diocese of Peterborough
Vicar General of the Diocese of Peterborough
Priest of the Diocese
Director of Finance, Property and Administration
Three to Five Lay Representatives
Current Council Membership
Most Reverend Daniel J. Miehm, D.D., Bishop of Peterborough
Msgr. Michael Heffernan
Fr. Craig Cruikshank
Deb McRae
Mark Donaldson, CPA, CMA
Kevin Heffernan
John Sutton
Herman van den Berg, MBA, PhD
Term of Membership / Office
Lay members are appointed for a five year term and may be reappointed for a second five year term.
The Chair of the Diocesan Finance Council is appointed by the Bishop.
These positions resource the Council and change with personnel assignments: Bishop of the Diocese of Peterborough; Vicar General and the Director of Finance, Property and Administration.
Meeting Schedule
The Diocesan Finance Council meets 4 to 5 times per year and as requested by the Bishop.