Budget and Finance Committee

Purpose:
To manage the receipt and dispersion of funds for the purpose of achieving the mission and vision of the church.

Duties:
1.  Elicit budget requests and formulate a church budget each year to be presented to the church in a timely fashion prior to the official vote for adoption of the budget.

2.  Be available to answer questions related to the church’s budget, as well as (in consultation with the church treasurer) the church’s financial protocols.

3.  Oversee the administration of contributions; take steps to ensure that sound procedures are used for receiving, counting, depositing, disbursing, recording, reporting, and auditing church funds.

4.  Coordinate with the Church Treasurer in the preparation and presentation of required financial reports to the church.

5.  Encourage Biblical stewardship education and budget promotion.

6.  Discover ways to support church ministries through budget development, promotion, and commitment.  It is important to maintain the understanding that the finance committee’s role is not to rehash budget items that have already been approved by the church, but rather to determine if and/or how the various requests can be granted given in light of the fiscal health of the church.

7.  In the event a standing committee of the church makes a request to the finance committee, the committee’s role is not to debate the merits of such a request (i.e., setting the direction for another committee’s work), but rather to determine if it is fiscally possible or not to move forward to the church with such a request.
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The church’s Bylaws specify the following for the Budget and Finance Committee:

This committee shall be composed of six members recommended by the Nominating Committee, plus the Treasurer and Chairman of Deacons (or his designated representative).

Election shall be such that two members rotate off each year.  After serving a full term, a member may not be re-elected until a one-year period has passed.

This committee shall prepare annually a proposed budget including local expenses, education, missions, and benevolences, and shall submit the same to the church at least two months prior, and voted on one month prior to the new fiscal year (as defined in Article VII).

Upon adoption of the budget by the church, this committee shall lead the church in a program to secure the commitment of its members to subscribe to the budget, and provide envelopes and other necessary literature and materials.

This committee shall develop the criteria, and submit the same to the church for approval, by which the Treasurer shall disperse the church funds (such as voucher or purchase order system, etc.).

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Regarding the annual budget:

In addition to the procedures for  creating an annual budget as specified by the Bylaws (above), the Budget and Finance Committee shall enlist the input of staff and ministry leaders from the areas of ministry per line item.

Financial practices:

The financial program of this church shall be supported from the free will tithes and offerings given by the individual out of love for Christ and for the advancement of His Kingdom.

The church fiscal and financial year shall begin on the first day of January and continue through the 31st day of December.

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