Financial Process Description

*  Diocesan assessment & Mission Commitment - Diocese provides guidelines and mission information.  Vestry determines allocation of missionary commitment & submits budget.

*  Rector/Personnel Committee & Salary Recommendations - Personnel committee reviews available salary market data (e.g., current  Compensation Handbook for Church Staff, Christian Ministry Resources) makes recommendation for each position and submits to Vestry for input to the budget.

*  Staff/Vestry Liaison Budget Requests - Staff and Vestry Liaison submit budget needs by line item for coming year upon request of Finance Committee using Good Shepherd BUDGET-FORECAST form.

*  Budget Established - Finance Committee assembles all inputs into a detailed preliminary budget.  Vestry/Staff/Finance Committee review total budget.

*  Annual Stewardship Campaign - Stewardship Committee initiates campaign.  Based on campaign results, estimates of other non-pledging estimated giving, loose plate, and building use fees, Stewardship Committee makes estimate of revenues for coming year.  Vestry/Stewardship/Finance iterate budget based on expected revenues.  Joint meetings are called as required.  Treasurer prepares results for Annual Parish Meeting in January.  Supplementary campaigns may be required as approved by the Vestry.

*  Line Items Assigned - At the beginning of each calendar year, Vestry develops and approves item assignments for staff and Vestry liaisons.

*  Vouchers Submitted - As expenses accrue, Check Voucher forms are submitted and approved by those responsible for expenditures.  Where Staff or Vestry members are being reimbursed, second signature by Vestry liaison or Senior Warden is required.

*  Approved? - Requires approval by assigned Vestry liaison or staff.

*  If yes, expenditures executed and tracked by bookkeeper.  If no, submitter informed in a timely and appropriate manner by Vestry liaison or staff member.