The Parish Finance Council is also an advisory and consultative body to the Pastor/Parochial Administrator as he administers well, faithfully, and diligently all of the parish's properties (ecclesiastical goods) in accordance to the norm of canons 1281-1288.

In each parish there is to be a finance council which is governed, in addition to universal law, by norms issued by the diocesan bishop and in which the Christian faithful, selected according to these same norms, are to assist the pastor in the administration of the goods of the parish, without prejudice to the prescript of can. 532.

Canon 537, 1983 Code of Canon Law

The Parish Finance Council consists of selected professionals, reputable and practicing Catholic  members of the parish who are knowledgeable and skilled in financial matters, to advise the Pastor/Parochial Administrator in the following areas:
 

• Plays an active role in the preparation of the budget and the Annual Parish Financial Report to be submitted to the diocese.
• Plays the role of a consultative body for the Pastor/Parochial Administrator on matters concerning major commitment of parish resources that would require the permission of the Bishop.
• Helps in the formulationof the parish report to the faithful required by law of the Church (c. 1287, §2).
• Assists in ensuring that an effective internal control system in place, including assistance in the implementation of recommendations made via parish financial operations reviews.
• Meets at least quarterly for a full review of the parish finances (receives balance sheet and budget vs. actual statement of activity monthly).