An effective finance committee proposes a budget; then raises, manages, and distributes the financial resources of the congregation to support and strengthen the mission and ministry of the congregation.
Responsibilities of the Chairperson:
The finance chair works with the leadership team chair, the church staff, and other ministry leaders to fulfill the mission of the church. The finance chair works with the trustees to handle designated gifts and bequests in accordance with the Book of Discipline. This person will guide the work of the finance team through the year, including planning agendas and presiding at meetings.
The finance chair will gather all budget requests to be reviewed by the committee, inform the congregation and pastor(s) about the church’s financial situation, and recommend to the church council any changes that need to be made in the budget after it has been approved.
The finance chair is accountable to the charge conference through the Church Council.
Responsibilities of the Committee:
The finance committee annually compiles a complete budget for supporting the mission and vision of the local church and submits the budget to the church leadership team for review and adoption.
Throughout the year, the finance committee recommends any changes to the approved annual budget to the church leadership team.
The finance committee is responsible for developing and carrying out plans to raise enough income to support the budget that has been approved.
The finance committee should, individually and corporately, engage in spiritual practices that build a relationship of attentiveness to God’ s will and direction; and hold one another accountable so that their decisions and actions fulfill the mission and vision of the church to make disciples of Jesus Christ for the transformation of the world.
The finance committee recommends to the church’s leadership team policies and procedures for management of church funds, and then implements the approved processes regarding administration and disbursement of funds .
The finance committee arranges for an annual audit of financial records and make s a report of this audit to the charge conference.
In congregations where there is no stewardship chair or committee, the finance committee ha s the responsibility to develop and implement a plan for year-round generous living within the congregation to include, but not limited to, an annual stewardship emphasis.