Unitarian Universalist Church of Silver Spring
Finance Committee
The UUCSS Finance Committee performs a variety of tasks relating to the congregation’s finances.
Treasurer: The Treasurer’s responsibilities are essentially to oversee accounts payable. The Treasurer coordinates extensively with the congregation’s independent Bookkeeper to make sure the Expense side of the Ledger is properly maintained, and that only authorized expenses are paid.
Collector: The Collector position is essentially responsible to oversee accounts receivable. As with the Treasurer position, the Collector coordinates extensively with the Bookkeeper to make sure the Income side of the Ledger is properly maintained. The Collector has the additional responsibility of recording the gifts (pledges) made by all households in the congregation and to track the fulfillment of those gifts during the course of the year. The Collector also produces the letters to donors acknowledging their gifts for tax purposes each January. During the Budget Drive, the Collector interfaces with the Annual Budget Drive extensively to provide tracking data on the progress of the drive and recording of the gifts made.
The finance committee oversees:
- Financial Reports: The congregation’s independent bookkeeper produces monthly financial statements. These statements must be reviewed by the Finance Committee each month to analyze the data to insure the congregation’s finances are tracking the budget adopted by the Board and the congregation. The final statements are distributed monthly to members of the Board.
- Rentals: The Finance Committee oversees the adoption and enforcement of the Rental Policy of the congregation, and monitors the receipt of rental income as a component of the congregation’s revenue.
- Insurance and Employee Benefits: The Finance Committee is responsible for securing and maintaining the workers compensation and liability insurance maintained by the church as well as the employee benefits such as health insurance and retirement. With respect to employee benefit insurance, the Finance Committee coordinates with the Personnel Committee.
- Budget: The Finance Committee prepares an annual budget which must first be submitted in draft to the Board and ultimately submitted to the congregation at the Annual Meeting for approval. In addition, the budget is a fluid document that requires updating during the course of the year in response to events and cash flow.
- Banking & Borrowing: The Committee is responsible for dealing with the congregation’s bank with respect to checking and savings accounts, as well as a business credit card account and the mortgage on the congregation’s property.
- Coordination with Stewardship Committees: The Committee coordinates with the Stewardship committee(s) on campaigns and functions, including the Annual Budget Drive, the Endowment, and any Capital Campaigns that might be conducted from time to time. The Committee also coordinates with members organizing the annual Rummage Sale and Auction.