Church Finance Committee: Budget Planning & Execution Strategies

Slide Note

Explore the essential functions and responsibilities of a church finance committee in preparing and managing a balanced budget. Learn how to review income and expenses, develop budget spreadsheets, and align financial resources with the mission and vision of the congregation. Discover effective practices for raising income, engaging in spiritual practices, and addressing challenges within the finance committee.

nahlanim Follow

Uploaded on Sep 17, 2024 | 0 Views

Download Presentation

Please find below an Image/Link to download the presentation.

The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.

E N D

Presentation Transcript

Preparing a Balanced Budget Welcome Prayer Introductions

Course Goals Week One Review the work of the Finance Committee as stated in the Book of Discipline Review your church s income and expenses Identify projected income and expenses

Course Goals Week Two Gather your church s budget information and budget requests Create a budget spreadsheet develop a process for living within the budget. Living into a balanced budget

Finance Committee An effective finance committee proposes a budget; then raises, manages, and distributes the financial resources of the congregation to support and strengthen the mission and ministry of the congregation.

Responsibilities of the Committee The finance committee annually compiles a budget for supporting the mission and vision of the local church and submits the budget to the church leadership team for review and adoption. During the year, the finance team recommends any changes to the approved annual budget to the church leadership team.

This team is responsible for developing and carrying out plans to raise enough income to support the budget that has been approved.

Both the finance team and individual members need to engage in spiritual practices that attend to God s will and direction. Team members need to hold one another accountable to decisions and actions that fulfill the mission and vision of the church.

Breakout Rooms What is your church s Finance committee doing well? Where are there challenges? As a group decide on one challenge to bring back to the full group. 10 minutes

Budget Planning Start Early!! Mission and Vision Income Expenses

Income Before you can allocate your funds, you need to have a good handle on your church s spending and how it comes in. What months or services tend to have the most extensive offerings? What are your leanest months? Offerings Donations

Expenses To say that budgeting is keeping track of the money coming in and the money going out seems glaringly apparent. But it s that simple. The truth is that your budget is only going to be as good as your financial awareness. The longer you keep track of the money coming in and out, the easier creating accurate budgets will