The Finance Council sets fiscal policy for St. Michael Parish, establishes budgets and monitors and reviews expenditures. The council is responsible for ensuring that proper accounting procedures are followed and that appropriate statements are provided to the Pastor for his use in the overall management of St. Michael Parish.

The group ensures that Parish financial statements fairly present the financial condition, results of operations, and cash flows of the Parish in accordance with generally accepted accounting principles. Council members also establish an internal control system that protects Parish assets and provides the proper authorization and recording of transactions to be sure financial information is reliable and accurate

Finance Council 2011-2012

What Does the Bible Ask Me to Give?

What does St. Michael ask and expect of me?

All parishioners are expected to complete and return a pledge card each year. St. Michael the Archangel Parish asks each family to commit 5% of gross earnings to our parish. St. Michael’s also asks that 1% be given to the Archdiocese Annual Call to Share. The remaining 4% can be given to other worthy charities or the St. Michael’s Building Campaign.

Tax and Financial Strategies

* Tax Benefits of Donating Stock or Mutual Funds Many people have mutual funds or stocks which have greatly increased in value since their purchase. By using these mutual funds or stocks for some of your charitable giving, you can conserve cash for other uses and maximize the value of your charitable gifts. You can deduct the fair market value of qualified non-cash property and you pay no capital gains tax on gifts of long-term appreciated property (held for at least a year and a day). You can gift all or any part of the shares you own (e.g. if you own 500 shares of a stock, you can choose to gift any number you choose. You do not have to gift the entire 500 shares). Mutual funds or stock gifts are a “win-win” situation, both for the individual and for St. Michael’s!

Here’s how it works:

* Financial Benefits of Corporate Matching

You can double or even triple your gift to St. Michael by taking advantage of your company’s matching gift program. Many companies will generously match their employee’s contributions to non-profit educational institutions, these matches can be as high as 2:1 or 3:1 for every donated dollar. By taking advantage of this important employee benefit, you can further support St. Michael’s. Your contribution may qualify for a matching gift from your employer if you are: a current or retired employee; the spouse of an employee; a corporate director; or an employee of a subsidiary. To find out if your employer has a matching gift program contact your benefits or human resources office.

Council Meetings and Membership

Council members meet on the third Tuesday of every month. Meetings begin at 7:15 a.m. in the St. Gabriel Conference Room, 14251 Nall Avenue.

Our council is currently composed of 12 members and two parish staff members.

Finance Council members serve three-year terms.Four members will rotate off each year on June 30th, and four new members will be selected to serve a three-year term starting with the June Council meeting. Parishioners interested in serving on the Finance Council should indicate their interest on the annual Time, Talent and Treasure form. This information will be kept on file, and a Council member will contact you in the spring or when new members are added