First Congregational Church of Southampton

First Congregational Church of Southampton
United Church of Christ
212 College Highway, P.O. Box 145
Southampton, MA 01073
Phone: (413) 527-1173

Finance Committee

Responsibilities

The Finance Committee has the overall responsibility for the church finances including the supervision of the financial functions of the Treasurer and the Collector as well as all the other church bodies that have fiscal responsibilities. In order to achieve this the Finance Committee does the following:
1) Meets on a monthly basis- excluding the summer months of July and August. The Treasurer will keep the Finance Committee informed about the budget over these two months by supplying the Finance Committee chairperson with monthly financial reports.
2) Annual update of invested endowment funds with Merrill Lynch- have our financial investment advisor attend 1 meeting annually to update us on our investments. The investment funds are reviewed monthly at each Finance Committee meeting. The investment policy is reviewed periodically; at least every three years.
3) Develops annual church budget based on individual budgets from committees and pledge amounts for the fiscal year. This proposed budget is made available to all church members at the annual meeting.
4) Committee consists of three members as well as the Treasurer, Collector and a Trustee representative. A chairperson will be chosen from the three members and this person will act as the representative to the Executive Steering Committee. Other members act as a representative to the Nominating Committee, Stewardship Committee, and Church Council.
5) Prepares annual Finance Committee report for the annual meeting