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Finance Board
Mission:
Raise, maintain and invest church money and manage church financial records, authorize payment of bills, dues and salaries, and lead formation of church budgets to be approved by the church membership, oversee Church endowment fund.
Membership:
Eight members elected at the annual meeting from slate of nominees recruited by Nominating Committee.
Activities and Operations:
Board At Large |
- Oversee work of the Treasurer, Assistant Treasurer,and Financial Secretary.
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Stewardship |
- Develop programs and campaigns to raise pledges of funds for church operating, benevolence and building fund.
- Recommend pledging level to budget committee.
- Monitor pledging progress against plan, advise Finance board on pledging progress, and recommend actions to address deviations from the plan.
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Investments and Endowments |
- Oversee church investment and endowment funds.
- Chair shall serve as a member of the Memorial Fund trustees.
- Review and make investment decisions and report on status of investments.
- Maintain records of investments and participate in audits, as appropriate.
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Records and Operations |
- Oversee Treasurer management of bank accounts and banking relationships.
- Oversee Treasurer collection and deposit of cash.
- Procure and maintain accounting software.
- Review operating and spending revenues against plans.
- Participate in audits of church financial records, as appropriate.
- Provide financial oversight to any capital fund campaign.
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Budget |
- Develop process and standards to form church operating budgets, and communicate process, standards and calendar to all church boards.
- Coordinate formation and consolidation of church operating, benevolence and building fund budgets.
- Develop revenue projections and assign revenue targets for pledging.
- Make church operating budget recommendation to Church Council.
- Evaluate proposed over-rides and exceptions to church operating budget and make recommendation to the Church Council.
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