ACLR Draft Work Groups Terms of Reference
Finance & Investments Work Group
1. Recommend an approach for embedding the Archdiocesan Finance statutes to engender a uniform financial administration practice across the Archdiocese.
2. Recommend treasury management approaches to guide the Archdiocese better leverage every fund generated within the Archdiocese, without creating the feeling that parishes are being dispossessed of their funds.
3. Recommend insurance policy approaches which are cost efficient and cover effective
4. Recommend Accounting practices and standards, financial reporting and auditing to be followed by all parishes and or business establishments in the Archdiocese.
5. Recommend how the CAA should approach investments and suggest a framework for financing investments and physical projects.
6. Review all existing investments by the Archdiocese and recommend the way forward including CBIT, private schools and GBTL
7. Consider also the following
8. Study and review, if any, all existing investment and finance policies of the CAA
9. Study and make recommendations on all current CAA investment portfolios
10. Draw up for discussions with His Grace, the Archbishop and Priest Council/College of Consulters, an investment and finance policy and operational guidelines in line with good corporate governance, best practice and Catholic values and ethnics.
11. Item “c” immediately preceding must serve to attain the primary mission of the CAA which is evangelization and growth in all its vocations. It must also serve to establish as well as grow its secondary missions in socio-economic development and human development with health, education, shelter, welfare and social security of the clergy, the aged and vulnerable groups etc as the main focus.
12. Isolate, study and recommend best strategies to tackle the most pressing investment and finance challenges facing the CAA such as CIBT and GBTL in a five to ten years time frame. Also focus on how to turn existing CAA-owned schools into centers both of academic and financial excellence.
13. The optimal uses of church estates to accomplish her mission, both primary and secondary, are also of no less importance.
14. Establishment of a savings and loans company and networking existing parish credit unions and welfare funds. A treasury function?
15. A policy of finance and investment training, development and continuing education for selected clergy and religious to create a pool of relevant professionals to direct/man the affairs of the church in these two vital areas for the growth of the Church as set out in the Synodal Acts of 2010.
17. Recommend strategies that will best sell any new investment and financial policy and operational guidelines to both the clergy and lay faithful from the parish level to the very top of the hierarchy.
18. Set guidelines, procurement procedures and terms and conditions for selecting facilitators and consultants to undertake the items 3 – 8 activities listed above. Identify all the cross-cutting issues with the other Work Groups and make recommendations for dealing with them.