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Code of Canon Law
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ARTICLE 3: THE FINANCE COMMITTEE AND THE FINANCIAL ADMINISTRATOR
Can. 492 §1 In each diocese a finance committee is to be established, presided over by the diocesan Bishop or his delegate. It is to be composed of at least three of the faithful, expert in financial affairs and civil law, of outstanding integrity, and appointed by the Bishop.
§2 The members of the finance committee are appointed for five years but when this period has expired they may be appointed for further terms of five years.
§3 Persons related to the Bishop up to the fourth degree of consanguinity or affinity are excluded from the finance committee.
Can. 493 Besides the functions entrusted to it in Book V on 'The Temporal Goods of the Church', it is the responsibility of the finance committee to prepare each year a budget of income and expenditure over the coming year for the governance of the whole diocese, in accordance with the direction of the diocesan Bishop. It is also the responsibility of the committee to account at the end of the year for income and expenditure.
Can. 494 §1 In each diocese a financial administrator is to be appointed by the Bishop, after consulting the college of consultors and the finance committee. The financial administrator is to be expert in financial matters and of truly outstanding integrity.
§2 The financial administrator is to be appointed for five years, but when this period has expired, may be appointed for further terms of five years. While in office he or she is not to be removed except for a grave reason, to be estimated by the Bishop after consulting the college of consultors and the finance committee.
§3 It is the responsibility of the financial administrator, under the authority of the Bishop, to administer the goods of the diocese in accordance with the plan of the finance committee, and to make those payments from diocesan funds which the Bishop or his delegates have lawfully authorised.
§4 At the end of the year the financial administrator must give the finance committee an account of income and expenditure.
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