Finance

Main Contact

Karen Martz (Liasion)

Authority

Bylaw C13.06.04: There shall be a Committee on Finance, of which the treasurer(s) shall be a member (members) ex officio. It shall prepare a draft budget for the succeeding year, including this congregation's full indicated share in support of the wider ministry being carried on in its behalf by the Evangelical Lutheran Church in America and the synod, and shall submit such draft budget to the church council for its action and later presentation to a congregational meeting. The committee shall exercise oversight of all the financial affairs of the congregation to make sure they are being conducted efficiently, giving particular attention to the prompt payment of all obligations and to the regular forwarding of benevolence monies to the synodical treasurer.  It shall, subject to the approval of the church council, be responsible for the congregation's investments, and shall also provide for annual audits of the accounts of the treasurer(s) and financial secretary, if there be one, as well as of the accounts of the school(s) and organizations within the congregation. It shall be responsible for office management.

Responsibilities

When

Who

What
  1. Semi-annually

Office Administrator

Compile and distribute giving statements
  1. As they arise

Finance Committee Chair and Financial Secretary with Council President

Review contracts and purchase agreements of over $2000 prior to submitting to council for approval
  1. As received

Financial Secretary

Acknowledged receipt of

gifts-in -kind

Activities


When

What
  1. Throughout the year

Handle financial issues as they come up
  1. Monday before monthly  Council Meeting

Meet  to  review income/expense reports,  prepare any needed responses to Council
  1. No later than early September

Develop Stewardship drive plan  
Might start earlier this year to re-emphasize time/talents as well as treasure
  1. September

Blurbs in newsletters and bulletins announcing  the date of the annual meeting (set by Council) and that committee budget submissions are due Nov 15.
  1. November

From pledge cards received, and historical data, project income.  (Thanks Allen!)

From Committee budget requests and last year’s actuals, project expenses.

Develop draft budget
  1. December

Present draft budget to Council.
  1. January

Determine if extra funds can be paid out in one-time benevolences, and if so, recommend to Council.  Present Council’s revised budget to Congregation at Annual Meeting, incorporate any revisions that carry.
  1. Quarterly

Review status of Designated Funds
  1. Annually

With Property Committee, review property and liability insurance coverage and Board and Professional Liability coverage.

Recruit 3 people to serve as Audit Committee and propose to Council.
  1. As needed

Recommend revisions to financial policies

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Evangelical Lutheran Church in America