Finance Committee

The Finance Committee, composed of members of the staff and parishioners with expertise in financial planning and management, advises the pastor on all decisions involving fundraising and expenditure of parish funds. It is the particular function of the council to make sure that the parish operates within budget, to advise on all matters of capital expenditures, and to formulate procedures and policies affecting the financial well-being of the parish.

Monthly Meeting

Discuss the parish finances and advise the pastor to approve or deny spending requests.

Catholic Giving Guide Worksheet

This worksheet is a tool designed to help you determine the amount you can give on an annual basis and then designate money for each area until you reach your pre-determined annual giving amount.

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What is Tithing?

Tithing is the practice, established by God in the Old Testament, of returning 10% of your blessings to God.

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Repair & Replacement (R&R) Fund

The Facilities and Maintenance Committee, in conjunction with the Finance Committee, established a Restricted Repair and Replacement Fund in response to the campus nearing 60 years of service. After a thorough assessment of the condition of the campus, it shed a light on a number of problem areas. It also became obvious that a major breakdown would be catastrophic to the parish budget. Breakdowns such as heating, or air conditioning could easily cost $10,000.

As a restricted fund, money donated can be used only for the repair or replacement of structural components and equipment critical to the operation of the parish (e.g. roofs, windows, tuck-pointing, foundations, well and water system components, heating and air conditioning units, sewage treatment plant, safety and alarm systems, and the like – elements critical to the infrastructure of the parish.) It may not be used for general parish operation or the repair or replacement of non-critical equipment. Use of the donated funds is restricted to the repair or replacement of critical equipment with an estimated cost of over $2,000 and will require the recommendations of both the Facilities and Maintenance and Finance Committees and the approval of the pastor. The pastor can approve using these funds for projects estimated to cost less than $2,000 on an emergency basis. All funds donated will be deposited with the diocese and will earn interest until they are needed for critical repairs.

The “R” and “R” Fund has worked well for Our Lady Queen of Peace and continues to be a vital part of the Financing and Facilities and Maintenance of Our Lady Queen of Peace Parish.

New Building Fund

In 2007, Our Lady Queen of Peace began a building fund to help construct a new Parish Center and school addition. Although we no longer have a school, we must continue to record the building fund donations as restricted. Since these funds are in a restricted account, they can only be used for a parish center and school. To use the money for anything else, a written release from the donors would be required. The Pastor and Finance Committee oversee the future of this fund.

Check the bulletin for the up-to-date total.