Property and Finance

Property and Finance provides oversight for the financial and administrative matters of the Diocese, including property, investments, insurance, apportionment, pay and benefits, and effective management of finances. It strategically manages diocesan assets. This committee prepares Synod's budget for presentation to Diocesan Council.

In particular, the committee is responsible for:

  • Providing oversight and stewardship of the financial affairs of the Diocese
  • Advising and making recommendations to Diocesan Council regarding financial affairs and property matters
  • Conducting financial planning, including preparing Synod's budget and other periodic estimates of financial requirements
  • Conducting regular reviews of the financial standing of Synod and its holdings in relation to the current budget
  • Establishing, reviewing and recommending changes to financial policy (e.g., to investments, property, insurance, and Parish Fair Share)
  • Considering applications for special appeals to the Diocese
  • Considering and approving all matters pertaining to diocesan property and capital expenditures or purchases (e.g., to building contracts, capital expenditures, building or structural alterations, property purchases, sales, leases and mortgages)
  • Overseeing investments, including administering the Consolidated Trust Fund portfolio
  • Overseeing pay and benefits policies (e.g., stipendiary scales and allowances, group benefit plans, pensions) and their administration
  • Reviewing the audited financial statements and Auditor's Report in consultation with Audit
  • Establishing and overseeing its subcommittees, in collaboration with Governance
  • Reviewing the canons, bylaws and regulations of the Diocese that pertain to financial matters at least annually, and recommending any changes to Diocesan Council

Membership and composition
Property and Finance has a maximum of 10 members, of which at least two members and no more than one-third are also members of Diocesan Council.

The committee includes a mix of clergy, lay members and members from rural and small parishes. At least two members come from rural regions of the Diocese or small parishes. Key areas of expertise are: accounting, real estate, law, risk, insurance, construction/project management, and investments.

Committee operations
The committee meets formally eight times per year. The Chair may request additional meetings if deemed necessary.

All meeting documents are normally provided to members for review at least one week in advance of the meeting date. All items for the agenda are to be with the supporting staff member at least seven days prior to the date of the meeting.

The Director of Financial Ministry will normally be in attendance at meetings.

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