Purpose:

The finance committee is to provide support, advice and guidance to the Vestry, clergy and staff as it relates to church related financial matters and maintain a sound internal control system that assures the Vestry and parish that the funds collected and disbursed receive proper handling and are accounted for in accordance with the Vestry’s wishes. The finance committee shall assist the Treasurer in fulfillment of the duties prescribed by Canon law.  Specifically, to conduct the affairs of the Treasurer's office in accordance with the provision of Canon 8.6(b) and Canons 13, 14 18, and 19.

Structure:

The Committee shall consist of the Rector, the Treasurer who shall serve as Chairman, the Senior Warden, and other such members of the Vestry and Church Membership who are appointed by the Rector. Committee members shall serve a three (3) year term and may be reappointed to successive terms.  All acting Vestry members shall serve, ex officio. Specific members may serve in assignments such as Building committee representative, banking, budget management, financial reporting, stewardship, counters, auditing, planned giving and insurance.

The Committee shall meet on the call of the Chairman.

The Chairman shall provide a report to the Vestry at each monthly meeting and other reports as required by Canon.

Duties:

·          Assure that a satisfactory accounting is made of all receipts and disbursements of funds.

·          To recommend to the Vestry an independent firm for the annual audit of Church accounts and to manage the annual audit process in accordance with Diocesan requirements.

·          To maintain an inventory of Church buildings and contents and assure that they are adequately insured.

·          To assist in the preparation of the annual report to the Church to be presented at the annual meeting.

·          Provides guidance and support to the Parish Administrator.

·          Recommends investment options to the Vestry for excess funds.

·          Assists in preparation of the annual budget between September and December of each calendar year.

·          Makes recommendations to the Vestry in banking and borrowing matters.

·          Manages the counting of receipts at each service through the maintenance of a standing tellers committee.

·          Recommends procedures for stewardship opportunities such as planned giving.

·          Other Duties as requested by the Rector, Wardens, and Vestry.

March 17, 1998