Finance Council

The Diocesan Finance Council (DFC) is one of the two major councils of the Diocese of Duluth. It is established by the bishop for the purpose of advising and assisting him in financial matters. Some specific duties are as follows:

• Approve and recommend an annual budget
• Examine the annual audited financial statements
• Appointment and removal of a Finance Officer
• Imposition of parish assessments
• Review annual reports from the parishes
• Advise on investment of tangible and intangible property
• Appointment of auditors
• Appointment of legal counsel
• Advise on property/liability insurance, risk management, property management, fundraising, internal controls & banking

Members of the DFC are appointed by the bishop for a five-year term which can be renewed. The DFC has two standing committees: Investment and Audit. These committees are comprised of both DFC members and others who are recommended to the bishop.

The council is governed by statutes.