AUDIT COMMITTEE GUIDELINES

ELECTION

  1. At the Fall Parish General Assembly Meeting, the Election of the Board of Auditors shall take place.

  2. A minimum of three (3) Stewards shall be elected from among the Stewards present at the Parish General Assembly Meeting. The candidate that is nominated for the Board of Auditors must be present at the General Assembly Meeting, no proxies shall be permitted.

  3. A candidate for the Board of Auditors CANNOT be an incumbent Parish Council member.

  4. A candidate for the Board of Auditors CANNOT be a candidate for election to the Parish Council.

CHAIRMANSHIP

Within three (3) days after the Election of the Board of Auditors, the members will meet in order to elect a Chairman. Once a Chairman is elected he/she shall contact the Priest with the results of the Election.

RESPONSIBILITIES

  1. The Board of Auditors shall have the financial competency to properly execute its responsibilities.

  2. The Board of Auditors shall have from the date of their Election until January 25th to begin and complete their audit of the financial records for the year in which they were elected.

  3. The Treasurer of the Parish Council shall provide all pertinent financial records to the Board of Auditors in a timely manner.

  4. Once the Audit is completed, the Chairman will present it in written form to the Priest and Parish Council in order for the Audit to be updated or revised, if necessary, for presentation to the Parish General Assembly Meeting for approval. When the Chairman receives the approved Audit from the Parish Council, he/she will sign it along with the other Board of Auditors members.

  5. After review and approval from the Parish General Assembly Meeting, the Parish Council shall transmit copies of the final audit to the His Eminence Metropolitan Evangelos of New Jersey and to the Archdiocese of America.

  6. A vacancy on the Board of Auditors shall be filled by the Parish Council by electing a successor therefore from amongst the parishioners of the Parish in good standing spiritually, canonically and financially for the unexpired portion of the term of such vacancy.

  7. The accounting records of the Parish shall be audited by the Board of Auditors every six (6) months.