Finance Committee

RESPONSIBILITIES & EXPECTATIONS

COMMITTEE: Finance Committee

GOALS & OBJECTIVES: To be responsible for managing the financial resources of the church to provide financial support for fulfilling the mission of our congregation.

REPORTS TO: Council

RESPONSIBILITIES & EXPECTATIONS

• To encourage the leadership of the church faithfully to use all of its resources to best fulfill the mission of Christ.
• To plan for the future mission work of the church and the support needed to move in that direction.
• Prepare a draft balance budget for the succeeding year, making full use of the treasurer(s) input. The budget shall include the 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 New Jersey Synod to the Council.
• Exercise oversight of all financial affairs of the congregation and make sure that 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.
• To review the financial statements of the church each time the committee meets.
• Be responsible for the congregation's investment along with the Treasurer, following the Council approved investment plan.
• Provide for annual audits of the treasurers' as well as the Sunday school, Committees and ministries within the congregation.
• To offer appropriate reports to the Standing Committees and to the Congregation abut financial assets, income and expenses of the church.
• To maintain adequate records to assure that indentured restrictions are faithfully respected that the Council policies are carried out and that the records necessary for compliance with standard accounting practices are maintained.
• Report monthly, in the Vine & Branches and Sunday bulletin the financial status to the congregation.