The Finance Committee is a sub-committee of the Church Board. It consists of the Finance Committee Leader or Chairperson, Senior Pastor or designee, Church Treasurer, Head Elder, Head Deacon, Head Deaconess, and four members at large. The Finance Committee has regularly scheduled meetings and reports to the Church Board.
Members of the Finance Committee should be church members in regular standing and set an example in returning tithe to the church. They should be commited to supporting the church financially and have a firm commitment to the unity of the church and its mission.
Responsibilities of the Finance Committee:
- Reviews financial statements compiled by the Church Treasurer
- Reviews the Church's internal financial policies and procedures
- Proposes a yearly church budget based on projected income, and the goals and needs of the church
- Reviews the allocation of funds
- Keeps the Church budget on track
- Discusses new projects or repairs of the church:
- Determines the scope of work needed
- Determines where funding will come from – account, fund raising, etc.
- Obtains at least 2 well-negotiated bids that serve the best interest of the church
- Prepares a report to be presented to the Church Board for approval
- Reviews the Tuition Aid applications each school year
- Reviews financial audit reports from the conference auditor