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Finance Committee - ¶ 259.4

 

In accordance with the United Methodist Church Book of Discipline, Section 259.4, MUMC's Finance Committee is elected annually by the charge conference upon recommendation by the committee on lay leadership. The Committee is composed of the chairperson; the pastor; a lay member of the annual conference; the chairperson of the church council; the chairperson or representative of SPRC; a representative of the Board of Trustees (selected by the Trustees); the chairperson of the Stewardship Team; the lay leader; the financial secretary; the treasurer; the church business administrator; and other members added as the charge conference may determine. The positions of treasurer and financial secretary should not be combined and held by one person, and the persons holding these two positions should not be immediate family members. Where there is no stewardship ministry area, stewardship shall be the responsibility of a subgroup of the committee on finance or shall be assigned to a task group that shall report to the church council.

 

All financial requests to be included in the church annual budget are submitted to the Finance Committee. The committee compiles annually a complete budget for the church and submits it to the Church Council for review and adoption. The Finance Committee is also charged with responsibility for developing and implementing plans that will raise sufficient income to meet the budget adopted by the Church Council and administers those funds according to instructions from the church council.

 

The committee shall carry out the church council's directions in guiding the treasurer(s) and financial secretary.

 

a) The committee shall designate at least two persons not of the immediate family residing in the same household to count the offering. They shall work under the supervision of the financial secretary. A record of all funds received shall be given to the financial secretary and treasurer. Funds received shall be deposited promptly in accordance with the procedures established by the committee on finance. The financial secretary shall keep records of the contributions and payments.

 

b) The church treasurer shall disburse all money contributed to causes represented in the church budget, and such other funds and contributions as the church council may determine. The treasurer shall remit each month to the conference treasurer all World Service and conference benevolence funds then on hand. Contributions to benevolence shall not be used for any cause other than that to which they have been given. The church treasurer shall make regular and detailed reports on funds received and expended to the Finance Committee and the church council. The treasurer(s) shall be adequately bonded.

 

c) The Finance Committee makes provision for an annual audit of the records of the financial officers of the church and all its organizations and report them to the charge conference.

 

d) The Finance Committee shall recommend to the church council proper depositories for the church's funds. Funds received shall be deposited promptly in the name of the church.

 

e) Contributions designated for specific causes and objects shall be promptly forwarded according to the intent of the donor and shall not be used for any other purpose.

 

f) After the budget of the church has been approved, additional appropriations or changes in the budget must be approved by the church council.

 

g) The committee shall prepare annually a report to the church council of all designated funds that are separate from the current expense budget.

 

The Church council may appoint such other committees as it deems advisable, including: committee on communications, committee on records and history, committee on health and welfare, and committee on memorial gifts.