The Diocesan Finance Council is formed in accord with Canon 492, revised Code of Canon Law (1983) from individuals appointed by the Bishop and known to be of sound integrity and who are diverse in their expertise of finance and civil law. Each member will serve a term of five years and may be appointed for an additional five year term. The Council meets four times yearly and is responsible for the annual diocesan budget, examination of annual expense and income reports for the diocese, and advising the Bishop on decisions relative to important acts of temporal administration and financial decisions.