The Finance Committee (FC) is the one mandatory committee required by the Diocese to be set up in each parish to advise the Parish Priest (PP) on all matters having a financial implication or connotation. Currently the Committee consists of the PP and five parishioners, the latter all having accountancy, taxation or business qualifications/experience. It should, as far as possible, ensure that all requisite records are kept, end of year accounts are property prepared and submitted to the Diocese, and the requirements of the Inland Revenue, the Charities Commission, and any other apposite legislative requirements are adhered to.
The role of the FC is purely advisory and the parish accounts are prepared by the Parish Secretary, and submitted to the diocese under the signature of the PP and chair of FC. The recording of all detailed information throughout the year and the production of the year-end accounts are done by use of a computer system. The "Gift - Aid Scheme", which replaced the old covenant scheme as from the financial year 2000/01, and which is an important source of parish income, is administered within the FC.
A budget of each years income and expenditure is prepared and published, and a Sunday each year is set aside as "Finance Sunday" so that members of the FC can report at all weekend masses to parishioners on the level of income and anticipated expenditure. An opportunity is also taken to publicise existing or new fund-raising activities such as the "200 Club" and the "Annecy School Development Fund".