Canon 21 – Of the Finance Department
There is hereby created a Finance Department to have the powers and perform such other duties as may be delegated to it by the Executive Board or by the Council.
The members of the Finance Department shall consist of at least three members of the Executive Board, a member of the Standing Committee, and five other members as the Bishop shall determine. At least three of the nine members shall be members of the clergy canonically resident in this Diocese. All appointments, including the Chairperson of the Department, shall be made by the Bishop who shall report such appointments to the Executive Board.
The Finance Department shall be directors and supervisors of all financial affairs of the Diocese, but it shall not direct the manner of payment of any of the monies administered by the other Boards and Departments of the Diocese, except as to the budgets expressly approved by the Executive Board for that fiscal year. To this Department shall be submitted at such time during the year as provided by Canon or as the Department shall require, reports of all Diocesan individuals, Boards and Committees handling monies, including, but not excluding others, the Board of Governors of Appleton Family Ministries, the Episcopal Church Women, the Board of Officers, the Cathedral Board of Trustees, Mikell Camp and Conference Center, Emmaus House, Episcopal Charities Foundation, Treasurer, the Executive Board, and the Bishop as to the Trust Funds that are held in the Bishopâ€™s name, in such detail as the Finance Department shall determine; provided, however, that the Treasurer shall make a monthly report to this Department of receipts and disbursements in detail, and send a copy to the Chairperson of the Finance Department and to the Bishop of the Diocese. The Finance Department shall make a comprehensive report to the Council annually of the financial affairs of all Diocesan Institutions, Boards, and Committees.
The Finance Department shall cause an audit to be made at least annually of all Funds administered by the Diocese. All such audits shall be made by a Certified Public Accountant. The Treasurers and Diocesan staff administering Funds thereof shall be under bond.
The Finance Department shall meet regularly and shall make such additional reports as may be necessary to show the current financial condition of all Diocesan Funds.
The Finance Department shall provide, with the approval of the Executive Board, in one of the budgets prepared by it, for annual amounts to be paid to the Permanent Fund in support of the Episcopate, and for such other purposes from time to time as it may deem advisable and worthy.