TO BE THE MAIN TEAM OF THE BOARD TO GIVE OVERSIGHT TO THE FINANCES AND MAKE RECOMMENDATIONS TO THE BOARD ABOUT BUDGET
Personnel: At least two or three members of the board, including one as chairman of finances; one to three others from the church as determined by the board; and these ex-officio members: senior pastor and chair of the board, both of whom are voting members of all church committees. Usually the main financial person from staff sits in for information purposes. These personnel are set by the chair and pastor.
Report to: the main board of the church.
Set the budget for the church year, recommending this to the board after compiling with input from staff and leaders of various church ministries.
Be guardians of the budget, and careful inspectors of the official monthly financial reports, making recommendation to the board that they be received as accurate and official. The chairman of this committee will present the report each month to the board, stating they the committee has reviewed it carefully.
Make an annual assessment and setting of the salary of the senior pastor after a review of him while he is present. They they propose his salary for the new fiscal year, and then are joined by him to set the salaries of the main associates of the staff. This committee then proposes a percentage increase allowable (including 0% in difficult times) for the senior pastor and executive pastor )possibly joined by appropriate department heads) to set salaries for the rest of the staff. In this process, only the senior pastor’s salary and the percentage increase allowed is taken to the board for approval.
Meetings: Monthly as set by the chair and pastor, always before the board meeting on the calendar so that all issues of finances can come with a recommendation from this committee.