FINANCE COMMITTEE



Purpose of Finance Committee:

1. Love: Money is many things, depending on the person and the situation. For this committee, money is an expression of love. People can express love by contributing money to Meeting, and Meeting can express love to an organization, process, or a person by spending money.

2. Facilitation: The Finance Committee exists to help the Meeting community connect with and use the financial resources needed to do spirit-led work.

3. Stewardship and oversight: The Meeting entrusts us with its money, and it is the committee’s responsibility to ensure that money is accounted for properly and is handled wisely.

4. Fundraising: To maintain the financial health of the Meeting, we sometimes engage in the activity of fundraising. We need to make it easy for members and attenders to contribute to Pima Monthly Meeting and share their fundraising ideas.

5. Communication: We must have transparent communication about the flow of financial resources while simultaneously guarding the confidentiality of donations.

 

Tasks of the Finance Committee:

1. Budget: Prepare, in consultation with each committee, a draft budget for consideration by the Monthly Meeting. The draft budget is submitted to the Meeting for Worship with a Concern for Business two months before the end of the fiscal year, and a final proposed budget is presented one month later.

2. Oversight: Recommend internal audits as needed. The Finance Committee Clerk receives a copy of all bank account and investment statements as an additional control and oversight over the Treasurer’s activities. Insure that the Treasurer is using appropriate bookkeeping procedures.

3. Investments: Recommend and monitor the performance of appropriate investment vehicles for the Meeting’s money. Develop and update, when necessary, a written investment policy to guide investment decisions and then follow that policy.

4. Corporate status: Insure that the Meeting meets any requirements to maintain its status as a 501(c)(3) nonprofit corporation with a valid EIN.

5. Other tasks as they arise: Committee members will remain open to other finance-related tasks that may arise as the Meeting, other committees, or individuals within the Meeting pursue specific leadings or callings.



This webpage last updated 16 December 2015.