Finance Council
In accord with Statute #356 of the Fourth Diocesan Synod, St. Thomas More/Our Lady of Mercy has a working Finance Council. The Council is composed of 10 members. The Pastor, Parochial Vicar, Administrator, Accountant, 3 Lay persons from St. Thomas More Parish and 3 lay persons from Our Lady of Mercy Church. The Council meets monthly and has several extraordinary meetings each year to discuss such things as Budget, Salaries, extraordinary expenses or repairs.
A detailed financial report, reviewed by the Finance Council, is submitted to the Diocese of Trenton each September which is also reviewed by the parish trustees and signed by them attesting to its accuracy. A summary financial report is prepared, reviewed and authorized by Council which is given to the parish in the month of November by the pastor. Additionally the parish is regularly audited by the Diocesan Office of Finance. The parish utilizes a "financial year" that begins July 1 and ends on June 30th. All financial matters are subject to review by the Parish Finance Council.
The parish is in compliance with the Internal Controls of the Diocese and all Finance Council members have attended update workshops offered by the Diocese and are in possession copies of the Internal controls procedures. Any extraordinary repairs or expenditures are voted on and attested to by signature of all members. Minutes of all meetings are kept and presented for yearly review by the Bishop.