The Parish Finance Council is mandated by Canon Law and is independent of the Parish Council, though the chairperson of the Parish Finance Council serves as a member of the Parish Council. The Parish Finance Council is a consultative group of lay parishioners who help the pastor exercise proper stewardship by giving him advice about financial planning, analysis and compliance with policy. It is advisory to the pastor, and its recommendations are valid only when accepted by the pastor. Major responsibilities include assisting the pastor with creation of an annual budget, making sure that required Financial Reporting to the Archdiocese, Parish Council and parish community is completed in an accurate and timely manner, ensuring that the necessary financial controls are in place, and that the assets of the parish are safeguarded from loss or damage.