The Parish Financial Review Program was started about 15 years ago as a means for parish to comply with the audit canon for a more reasonable cost. The review consists of examining parish internal control procedures and the annual financial reports. Various procedures are completed to ascertain that transactions are authorized and reported correctly. A memo is prepared after every review listing concerns and any recommended corrections or adjustments. The charge currently is $40 per hour.

Click here to access a checklist for congregations preparing for financial review.

In 1996, the concept of a Limited Review was initiated. A Limited Review can be granted every other year to parishes that had a previous year’s review with few or minor areas of concern. The parish is required to send in a completed internal control questionnaire and financial statements for the year. There is no charge for this.

The parish reviewers receive the parochial reports each year and review them. They also offer assistance and resources to treasurers and parish administrators throughout the year.

A good reference for treasurers is the Manual of Business Methods in Church Affairs produced by the national church. The diocese purchased and distributed a copy of the 2000 edition of the manual to each parish. The manual has been updated and the current edition (2007) can be downloaded here.