The purpose and objective of the committee is to advise the pastor, and, thereby, the parish at large, of its financial condition, needs and planning requirements. A budget, prepared along the new Diocesan requirements, is divided into categories such as liturgy, education, etc.

The budgeting, which is done prior to the beginning of the fiscal year, gives each committee an idea of what sums of money will be required to operate. Income is projected on the past year's receipts. When the income and expenses have been projected, each committee has an idea of whether it can expand or reduce spending.

This planning is designed so that it might ultimately be used in a computer, which will be a useful tool for the parish accountant who is also a member of the Finance Committee.