Canon IX – Finance

9.1 Assessments

To aid in the support of the Episcopate and to meet duly authorized diocesan expenses, the Convention, at each Annual Meeting, shall lay an assessment upon the Parishes and Congregations. Such assessment shall be based on the net disposable income of such Parishes and Congregations of the Diocese for the year next preceding the meeting of the Convention and shall be payable monthly to the Treasurer of the Diocese.

Net disposable income shall be defined as those items as set forth in the Parochial Report of the Episcopal Church as follows: receipts from plate offerings, pledge payments, contributions from parish organizations, net undesignated investment and endowment income, net investment income designated for any parish operating expense, or for the diocesan and general church program, and all other income which can be used for Operating expenses or for the Diocesan and general church program, excluding support received from the Diocese.

9.2 Business Methods In Church Affairs

Every Parish, Congregation, Corporation, and Institution in this Diocese shall conform to the standard business methods prescribed by Canons of the General Convention. Oversight of the administration of the business methods and of the annual audit prescribed by the Canons of the General Convention shall be vested in the Finance Committee of the Diocese which shall consist of the Bishop, the Treasurer and five members appointed annually by the Bishop with the concurrence of the Trustees of the Diocese. The Committee shall report annually to the Convention of the Diocese.

9.3 Clergy Compensation and Benefits

At its annual meeting, the Convention shall adopt a standard schedule of salary and benefits for members of the Clergy serving in parochial or diocesan positions.

9.4 Diocesan Development Fund

The Diocesan Development Fund may lend capital funds to the Parishes, Congregations, Corporations and Institutions of this Diocese for new construction, remodeling, major improvements, equipment, furnishings and emergencies. The Diocesan Development Fund Committee shall consist of the Bishop, the Treasurer and nine members appointed by the Bishop at each Annual Meeting of the Convention. This Committee shall investigate all applications for loans. Loans approved by this Committee shall be confirmed by the Standing Committee. This Committee shall set the rate of interest to be charged on all loans. This Committee shall submit a financial report quarterly to the Standing Committee and shall submit an Annual Report to the Convention at the Annual Meeting of the Convention.