FINANCE OFFICE AND ACCOUNTING
FINANCE OFFICE AND ACCOUNTING
The Bishop’s Annual Appeal for Ministries is reported on this website and can be viewed with this link.
Annual Assessment
Canon law allows a Bishop to have an assessment to fund the operations of the office. The diocese assesses adjusted income of each parish at 10% to fund the Bishop’s operations, the tribunal, and other offices. Assessable income is calculated annually. There is also an assessment for priest benefits and Catholic education.
Parish Financial Policies and Procedures
Parishes are required to utilize a common chart of accounts and the Parish data Systems (PDS) software. Parishes are to comply with GAAP except for depreciation. Internal controls are in effect: (a) cash is to be accompanied by at least two persons at all times, (b) collections are to be placed into a locked or tamper resistant container, (c) counting is to be done with three or more people but in no instance less than two, (d) each parish is to have an independent financial review once every two years, and (e) an active parish finance council.
Detailed Parish Counting and Collections Procedures
Parish collection and receipts are to be documented by more than one person or through a written receipt. Funds received through collections are to be counted by a minimum of two unrelated persons and the process observed by a third person. The accounting staff for the parish are not to participate in the counting process. Count sheets are to detail the receipts and signed by all of the counters present. A deposit slip is prepared. The count sheet, deposit receipt, ledger, and donor record are to be reconciled and balanced to one another. All four records are to be preserved for the audit/financial review.
CONTACT INFORMATION
Kate Disbrow
Accountant-Parish & School Financial Services
615-783-0253
For information on the Finance Council, visit the Bishop’s Office page.
