The purpose of this
Committee is to work with the Principal to objectively oversee, and establish
preliminary policies with respect to, all financial matters of All Saints
Catholic School. This Committee
functions as an Ad Hoc Committee of the SAC and will report to, and operate
under the direction of the Pastor, Principal and SAC.
This Committee will assist
the All Saints Parish Finance Council (“Parish Finance Council”) in fulfilling
its obligations to the Parish by providing the recommended Annual Operating and
Capital Budget and other periodic financial status reports to the Parish Finance
Council.
The authority of this
Council will encompass working with the Principal to perform the following
functions:
Develop, with input from the
Principal, an operating and capital budgeting process, including one, two,
three, and four and five-year budget outlooks.
Develop, recommend and
submit Annual Operating and Capital Budgets for submission to the SAC, Pastor,
Principal, and Parish Finance Council.
Establish tuition and fees,
payment terms, enrollment contract terms, tuition insurance requirements,
contribution requirements to the Church and the Capital Campaign, and financial
aid criteria for submission to the School Advisory Council and Pastor.
Define periodic and ad hoc financial reports relating to the School to be prepared by the Parish business office or the School business office. Determine the schedule on which these reports will be provided to and reviewed by this Council.
FINANCE COMMITTEE CHARTER
Article I – Title and
Authority
The name of this body
shall be the All Saints Catholic School Finance Advisory Council. This Council is established under the
authority of the All Saints Catholic Church Pastor and All Saints Catholic
School Advisory Council (SAC).
Section
1. The
purpose of this Committee is to work with the Principal to objectively oversee,
and establish preliminary policies with respect to, all financial matters of All
Saints Catholic School. This Committee
functions as an Ad Hoc Committee of the SAC and will report to, and operate
under the direction of the Pastor, Principal and SAC.
Section 2. This Committee will assist the All
Saints Parish Finance Council (“Parish Finance Council”) in fulfilling its
obligations to the Parish by providing the recommended Annual Operating and
Capital Budget and other periodic financial status reports to the Parish Finance
Council.
Section 3.
The
authority of this Council will encompass working with the Principal to perform
the following functions:
a.
b. Develop, recommend
and submit Annual Operating and Capital Budgets for submission to the SAC,
Pastor, Principal, and Parish Finance Council.
c. Establish tuition
and fees, payment terms, enrollment contract terms, tuition insurance
requirements, contribution requirements to the Church and the Capital Campaign,
and financial aid criteria for submission to the School Advisory Council and
Pastor.
d. Define periodic and
ad hoc financial reports relating to the School to be prepared by the Parish
business office or the School business office.
Determine the schedule on which these reports will be provided to and
reviewed by this Council.
These reports will include
the following reports:
ii.
iii.
v.
e. Advise on various
financial matters relating to the School, including the following matters:
i. School and/or
Parish business office reporting procedures with Annual Operations and Capital
Budgets.
ii. Parish approved
banking relationships.
iii. Leases and other
debt arrangements.
iv. Major
disbursements.
f. Establish, with
approval of Principal, Pastor and/or SAC, subcommittees as needed.
a. This Council will
consist of the following members:
i. The Pastor as an
ex-officio member.
ii. The School
Principal as Directing Member and Assistant
Principal as an Advisory Member.
iii. A representative
designated by the Parish Finance Council as an ex-officio member.
iv. The school
accountant as an Advisory Member.
v. From three up to
six members appointed by the Pastor and Principal from recommendations by
SAC.
b. Each appointed
member shall serve a term of three years; one person may serve no more than two
three year consecutive terms.
Section 2. Qualifications of Appointed
Members
a. Appointed members
must be at least 18 years of age, registered in and contributing to All Saints
Parish.
b. Appointed members
and their immediate family may not be paid employees of the Church or
School.
c. Appointed members
must be free to serve without any conflict of interest, except that the fact
that any appointed member may have children enrolled in the School.
d. Appointed members
may not be related to any other seated appointed member.
e. Appointed members
must have experience in accounting, finance, business, law, or human resources,
or have other personal or professional experience deemed beneficial to the
functioning of this Committee by the Pastor, Principal or SAC.
f. The Chairperson
shall be an elected member of the SAC.
Section 3. Excuse from Membership
a. The SAC, under
direction from the Principal or Chairperson, shall have the power, by majority
vote, to excuse a member for failure to attend without cause more than three
meetings in any fiscal year.
b. The SAC, under
direction from the Principal or Chairperson, shall have the power, by at least a
three-fourths vote of all seated SAC members, to excuse a member for cause.
Section
1. Appointments of the appointed members
shall be made annually by the SAC at the regular meeting of the SAC in April and
from time to time as needed to fill vacancies.
Newly appointed members shall assume membership at the next meeting of
this committee immediately following their appointment.
Section
2. SAC shall take measures to solicit
membership from the Parish and School Communities at large and shall obtain
necessary information to determine the applicants' qualifications.
Article V
- Officers
Section
1. The officers of this Committee shall
consist of a Chairperson, Vice-Chairperson and Secretary. The Chairperson will be the member of the
SAC. The Vice-Chairperson and Secretary
shall be elected annually by this Committee at its regular meeting in June.
Section 2. All appointed members of this Council
are eligible for any office. No officer
shall serve more than two consecutive terms in a particular office.
Section 3. The duties of the officers shall be as
follows:
a. The Chairperson
shall preside at all regular and special meetings of this Council and establish
an agenda for each meeting. The
Chairperson shall serve as liaison between this Council, the Pastor, the Principal,
the SAC and the Parish Finance Council.
b. The
Vice-Chairperson shall perform the duties of the Chairperson when s/he is absent
or unable to act. The Vice-Chairperson
shall serve as liaison between this Council and the Parish business office and
School business office and shall be responsible for overseeing the timely
preparation and delivery of financial reports to this Council.
c. The Secretary
shall maintain a written record of all acts of this Council; distribute minutes
to Committee members; conduct, receive and dispose of all correspondence as
directed; and preserve all reports and documents committed to his/her care.
Section
1. This Council will meet regularly on second Monday of
the month. Regular meetings may be
canceled or rescheduled by action of this Council. The Chairperson, Pastor or Principal may call
special meetings.
Section 2.
For the
purpose of transacting business and generating recommendations, it shall be
necessary that a quorum be present, consisting of a majority of the appointed
members.
Section 3. All meetings of this Committee shall be
closed unless otherwise directed by the Pastor, Principal or SAC. However, the Chairperson may invite
non-members to present to this Council or otherwise participate in any meeting.
Section
1. SAC may amend this Charter by at least a
vote of two-thirds of all seated SAC members, with approval of the Pastor and
Principal.
Section 2. Amendments must be presented to this
Committee, SAC, Principal and Pastor at least one month prior to voting on
such.