Mount Vernon Unitarian Church Charter of the Finance Committee
The Finance Committee (the Committee) provides oversight in all areas of church finances and advises the Board of Trustees (Board) regarding financial matters.
2. Type of Committee
The Committee is a Standing Committee, responsible to the Board.
The Committee is composed of the Treasurer and at least four resident members of MVUC appointed by the Committee Chair. The Minister and the Church Administrator are non-voting members. A voting member of the Committee represents the Committee on the Stewardship Committee, the Endowment Committee, the Meeting House Improvements Committee, and the Susan B. Anthony Committee.
The Board appoints the Chair of the Committee for a one-year term.
5. Activities, Duties, and Responsibilities
1. Budgeting: Based on priorities provided by the Board, estimates from committees, and other sources, the Committee each year compiles data concerning financial needs and provides the data to the Stewardship Committee. The Committee prepares a proposed budget for presentation to the congregation at the Annual Congregational Meeting, and prior to the beginning of the new fiscal year submits a proposed budget for adoption by the Board.
2. Monitoring: By reviewing financial records prepared by the Treasurer and Church Administrator, the Committee monitors income and expenses throughout the year and reports any discrepancies to the Board. The Committee may recommend adjustments in the budget at any time they are considered necessary.
3. Review: At least once every two years, the Committee conducts reviews of:
a. Records and accounting procedures for the Operating Fund, Property Major Maintenance Fund, Endowment Fund, Memorial Walks Fund, Susan B. Anthony Funds, and all other church-related funds.
b. Insurance provisions: Based on these reviews, the Committee may recommend changes to policies or procedures.
3. Other Standard Committee Procedures: The committee complies with planning and reporting procedures required by church policies.
Primary Author(s): Lauch Walton
Date this charter was approved initially by the Board of Trustees: 2010 (est.)
Date this charter was reviewed by the Program Council: November 19, 2012