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Finance Committee Information
This committee is elected annually by the charge conference upon recommendation by the Lay Leadership Committee or from the floor. This committee is composed of the chairperson, pastor, a lay member of the annual conference, the chairperson of the Ad Council, the chairperson or representative of Staff Parish, a representative of the Trustees (to be selected by the Trustees), the chairperson of the Stewardship Ministry, the lay leader, the financial secretary, the treasurer, the church business administrator, and other members as the charge conference may determine. The financial secretary, treasurer, and church business administrator, if paid employees, shall be members without vote.
Where there is no Stewardship Ministry, stewardship shall be the responsibility of the Finance Committee.
The Finance Committee shall receive all financial askings to be included in the annual budget of the local church.
The Finance Committee shall compile annually a complete budget for the local church and submit it to the Ad Council for review and adoption. The Finance Committee shall be charged with responsibility for developing and implementing plans that will raise sufficient income to meet the budget adopted by the Ad Council. It shall administer the funds received according to instructions from the Ad Council.
The committee shall carry out the Ad Council's directions in guiding the treasure and financial secretary.
The committee shall designate at least two persons not of the immediate family residing in the same household to count the offering. They shall work under the supervision of the financial secretary. A record of funds received shall be given to the financial secretary and the treasurer and the funds shall be deposited promptly in accordance with the procedures established by the Finance Committee. The financial secretary will keep records of the contributions and payments.
The church treasurer shall disburse all money contributed to causes represented in the local church budget, and such other funds and contributions as the Ad Council may determine. The church treasurer shall make regular and detailed reports on funds received and expended to the Finance Committee and Ad Council. The treasurer shall be adequately bonded.
The committee shall make provision for an annual audit of the records of the financial officers of the local church and all its organizations and shall report to the charge conference.
The committee shall recommend to the church council proper depositories for the church's funds. Funds received shall be deposited promptly in the name of the local church.
Contributions designated for specific causes and objects shall be promptly forwarded according to the intent of the donor and shall not be used for any other purpose.
After the budget of the local church has been approved, additional appropriations or changes in the budget must be approved by the Ad Council.
The committee shall prepare annually a report to the Ad Council of all designated funds that are separate from the current expense budget.