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Christ Church Parish (Episcopal) 56 Christchurch Lane
P.O. Box 476
Saluda, VA 23149
(804) 758-2006 »

Finance Committee

 Finance Committee Responsibilities

 It is the responsibility of this committee to oversee the establishment of policy and procedures regarding all financial matters of Christ Church Parish, to ensure that such policy and procedures shall be in accord with the Canons of the Protestant Episcopal Church in the Diocese of Virginia, the Diocese of Virginia'S "Manual of Business Methods" and good business practice.

The Finance Committee shall be composed of three to five members of the congregation, plus the Rector and Senior Warden on an ex-officio basis. The Treasurer shall be one of the committee members and the Assistant Treasurer may be one of the committee members. Additional members may be appointed on an "ad hoc" basis by the Vestry to assist in budget preparation or investments. With Vestry approval, the Executive Committee may employ the services of outside agents or individuals as necessary.

The Duties of the Finance Committee Are:

1. Work with and through the Treasurer, to design and oversee all policies and programs that account for all financial activities of the church including the collection and disbursement of all funds, investment and safekeeping of those funds, and financial reporting.
2. Oversee the performance of the Treasurer with regard to timely payment of bills and obligations of the Parish, the proper accounting of monies held in trust for local, state or federal agencies and the distribution of monthly financial reports.
3. Ensure that all Parish money and securities, from whatever source and for whatever purpose, are properly accounted for and are under the auspices of the Vestry. Establish procedures for the proper security and accounting of Sunday plate collections.
4. Maintain liaison with Diocesan and Regional persons and programs involving finances.
5. Be conversant with the Diocese of Virginia's "Manual of Business Methods".
6. The Committee may, from time to time, seek the assistance of qualified members of the congregation in the following activities.
   • Prepare a preliminary Parish operating budget for Vestry review by the December Vestry meeting. The budget will be revised in accordance with the Vestry's recommendations and the results of the stewardship campaign by the time of the Annual Meeting,
7. Recommend to the Vestry a philosophy of investment, and policies to implement the philosophy, for all funds of Christ Church including the annual operating fund. Supervise the investing of such funds and report the results of such investment to the Vestry on a quarterly basis.
8. Ensure that an annual financial audit is performed on all funds of the Parish including the Discretionary Fund; such audit shall be conducted biannually by an independent public accounting firm; the Audit Report to be presented to the Vestry as requested by the Vestry generally by June 15th .
9. Review annually the insurance carried for the Parish and report findings and  recommendations to the Vestry. Ensure that the Treasurer and Assistant Treasurer (if there is one) are properly bonded.

Tellers