Finance Committee

Introduction

The job of the committee on finance is to identify, perfect, and manage the finance system for the congregation. The finance system is the processes of raising, managing, and dispersing the finances so that the mission and vision of the congregation can be achieved (Guidelines, p. 6).

The Bible speaks frequently about money and wealth and emphasizes the importance of generous giving (Proverbs 22:16; 2 Corinthians 8-9), wise investment (Luke 16:10-13); debt management (Proverbs 21:20; 22:7), prudent fiscal oversight (Luke 12:13-21; Acts 4:32-35); and appropriate attitude (1 Timothy 6:10)….Whatever income and expense is generated by the church is ultimately for the work of ministry (Guidelines, p. 7).

A critical component of this ministry is recognition of the historic differences between Christian stewardship and funding ministry. Funding ministry, often called “fundraising,” consists of the varied tasks associated with gathering funds to enable ministry to take place. Underlying and supporting these tasks, however, is the conceptual discipline of stewardship. In our tradition, we understand ourselves as stewards who respond to our giftedness. It is this balance between the “what” (fundraising) and the “why” (stewardship) that is the genius of Wesleyan financial leadership (Guidelines, p. 8).

-From Guidelines for Leading Your Congregation 2009-2012: Finance, (p. 6-8). Copyright © 2008 by Cokesbury. Used by permission.

Main tasks of the committee

1. Provides financial direction for the congregation and regularly reports to the church council and to individual members. (Does not include management of stock and bonds)
2. Recommends an annual budget to support the mission and ministry of the church.
3. Develops plans for the annual funding program to ensure that the financial needs of the church are met.
4. Arranges for the annual audit of church financial records.
5. Provides financial communications, both sharing and inviting information
6. Provides financial reports and substantiation
7. Nurtures growth in giving and generosity

-Adapted from Guidelines for Leading Your Congregation 2009-2012: Finance, (p. 9-14) Organization and relationships

The Book of Discipline provides for the committee on finance to be made up of persons who, by virtue of other leadership responsibilities, link the committee to other areas of congregational life, as well as several persons who are nominated in recognition of their commitment to and witness of personal stewardship.