Established by the General Chapter
S53 1) Expert financial advice should be sought on a continuing basis.
2) The financial records of the monastery should be audited or reviewed every year by professionally competent persons. At least every fourth year, in relation to a visitation, the monastery must have either an audit or a professional financial review.
3) An annual financial report shall be made to the chapter for a comprehensive exposition of the finances of the monastery, including its investments, and of expert financial advice sought and received.
S54 Every monastery is urged to prepare an annual fiscal budget whereby the activities of the monastery can be guided.
S55 Because of the changing worth of money, each ordinary general chapter shall review the scale of monetary sums or values above which a debt to be contracted for a certain sum, or an act of extraordinary administration involving a certain sum or value, requires the previous consent of a particular organ of government (C 69). The table thus determined shall be recorded in the minutes of the General Chapter. If the sum or value involved in the transaction exceeds the amount determined for the region by the Apostolic See, the permission of the Apostolic See itself is required (see CIC 638.3).
S56 The current expenditures for the proper sustenance of the household and for the maintenance and repair of the buildings may be made without asking the consent of the council or of the chapter.
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Rev. 08 Apr 2009 | www.osb.org/swissam/const/