Finance Committee

Finance Committee

Finance Committee
Chair - Mike Newsome
Session Rep - Rosy Farrell

 

 

Membership:

  • Minimum membership level is (5): one elder, (3) treasurers, and one person from the congregation.


Targeted skills needed in their membership

  • A willingness to serve.
  • Experience in financial control and budgeting
  • Capable of managing figures and cash.
  • An understanding of laws regarding taxes, contributions, payroll, etc.


Leadership Roles & Responsibilities:

  • Chairman – Calls and conducts meetings, provides general leadership; ensures Session liaison has committee updates. Members serve a two-year term and no more than two consecutive terms.
  • Vice-Chairman – Conducts meetings in absence of chairman; succeeds chair to lead committee. This person may serve a dual role as one of the treasurers.


The Receiving Treasurer has the responsibility for:

  • Oversight of the counting, and depositing of all contributions and other receipts promptly.
  • Sending out annual statements to contributors
  • Assisting with the required annual review of the church financial records.
  • Implement and oversee a gift acceptance policy.


The Recording Treasurer has the responsibility for:

  • Posting contributions from summary reports
  • Posting all disbursements
  • Posting adjustments from bank accounts
  • Reconciling checkbook with cash account on general ledger
  • Disbursing reports to boards and committees
  • Completing financial portion of the EPC Annual Statistical Report
  • Assisting with the annual review of the church financial records
  • Serving as a back-up to sign disbursement checks.


The Disbursing Treasurer has responsibility for:

  • Issuing checks upon receipt of proper documents
  • Paying all appropriate bills promptly
  • Keeping proper records on all checks issued
  • Recording deposits in the checkbook
  • Reconciling bank statements
  • Assisting with the annual review of the church financial records
  • Complete and file required tax forms on a timely basis


Other Siler Treasurers - All other organizational treasurers shall keep careful and accurate books. Debits shall be paid promptly so as not to accrue interest or penalties, and checking and savings accounts shall be kept current. Annual reports shall be given to the church treasurer by January 14th, for the prior year.


Mission Statement: To administer the Lord's finances in accordance with Siler’s mission and church policies.

Meeting Frequency: Quarterly at a minimum