Financial Management Responsibilities of Committee on Finance in a Church Setting

FINANCE {258.4} Rev. Dr. Rich Hendrickson Pastor of St. Paul s UMC Ocean Grove

Committee Members 258.4 Chairperson Pastor(s) Lay Leader Lay member to A/C Financial Secretary *Business Administrator Others as determined by charge conference Church Council Chair SPR Chair or Representative Trustee Chair or Representative *Stewardship Chair or Representative Treasurer {*If applicable}

THE BASICS 258.4 Oversee stewardship Compile a budget annually Raise sufficient income to support the budget Administer funds received by the church Counting and depositing the offering Disbursing funds Annually review and report on internal controls Provide for an annual audit Report the audit to the annual Charge Conference Recommend proper depositories for church funds Ensure compliance with donors intent Annually report to church council all designated funds

THE BIG PICTURE The ministry of the committee on finance is to nurture the financial vitality of the congregation. Financial Transparency Missional Budgeting and Fundraising Best Practices

Clear, easy to understand financial reports (income and expense) TRANSPARENCY o Budget o Actual o YTD Annual audit Strong system of internal controls o Receiving o Handling o Counting

Budget & Fundraising The usual questions: How much money do we need? How are we going to get the money we need? Who will give it to us? How will we ask them? Fund-raising is proclaiming what we believe is such a way that we offer other people an opportunity to participate with us in our vision and our purpose. Henri Nouwen

Budget & Fundraising Mission drives the budget o Vision, goals, outcomes o Expense budget o Ministry Action Plan (MAP) Stewardship/Giving

7% Ministries: Preaching, prayer, and worship are all enhanced by art and music and empowered by God s Holy Spirit. Our Sunday School, Bible studies, and CrossRoots Youth Ministry help all ages grow as people of faith. We also nurture one another through prayer, pastoral care, fellowship, and community building in the name of Christ. $400,000 58% 25% 58% Narrative Budget Ministry Beyond our Walls: $70,000 10% We extend our open arms to the world through acts of service and welcome in our church, community, the surrounding area and across the globe through all our mission outreach ministries including our Food Pantry, Angel Fund, Habitat, Imagine No Malaria, and Daysprings Ministry in Haiti. 10% Ministries Ministry of the Building Ministry Beyond Our Walls Ministry Support Ministry of the Building: $170,000 Our building and grounds provide the setting for worship, fellowship, and formation, and serve as a community resource for the hungry and those in need. 25% Ministry Support: Our church office is the hub where our ministries are shared, communicated, and coordinated. This area also covers our ability to reach beyond the walls of our church through our website, Facebook page, and live streaming. $50,000 7%

Resources: 2016-2020 United Methodist Church Financial Records Handbook. 2016 United Methodist Book of Discipline A Spirituality of Fundraising, by Henri Nouwen Not Your Parent s Offering Plate, by J. Clif Christopher Guidelines/Finance Committee

FINANCE {258.4} Rev. Dr. Rich Hendrickson Pastor of St. Paul s UMC Ocean Grove