Guidelines for the Financial Committee
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|Create Date||June 7, 2016|
|Last Updated||June 10, 2019|
Guidelines for the Finance Committee
Guidelines for the Finance Committee.
Scope of the Finance Committee
The finance committee exercises oversight over all matters financial at Crystal Park Baptist Church Benoni. This includes, but is not limited to:
- Preparing the annual budget. The budget is presented to the elders by the end of July who after consideration and input bring it as a proposal to the church at the Annual General Meeting in October.
- Recommendation of staff salaries and increases. These accompany the budget by the end of July.
- Regular reporting to the church.
- A weekly income report in the church notices
- A monthly income and expense overview by email
- A quarterly review at General Meetings.
- General financial oversight. Which would include vetting and authorising expenditure outside of the budget and approval of expenditure above thresholds within the budget. This may require a monthly, bimonthly or quarterly meeting and/or other forms of communication.
- The committee will be the de facto signatories on the church’s financial accounts.
Function of the Finance Committee
- The elders task the finance committee.
- The finance committee executes the scope of their duties with autonomy.
- The finance committee makes recommendations to the elders.
- The finance committee remains accountable to the elders.
- The elders may make recommendations to the church.
- The elders remain accountable to the church.
Composition of the Finance Committee
The Finance Committee will include, but not be limited to:
- A elder: Not employed by Crystal Park Baptist Church Benoni.
- A church member: Not employed by Crystal Park Baptist Church Benoni.
- The church treasurer: confirmed at a general meeting.
- The committee can appoint additional members.
All appointments are governed by section 19 of the church constitution.