Composition of the Finance Committee — The finance committee shall consist of two deacons, two elders, two at-large members, one trustee, and the church treasurer.

Purpose of the Finance Committee — The purpose of the finance committee is to oversee the receipts and expenditures of Mossy Creek Presbyterian Church’s general operating fund as directed by the annual budget approved by the session.

Responsibilities of the Finance Committee — The committee establishes financial procedures and supervises investments related to the general operating fund through the following activities:

1. Approves expenditures not authorized by or in excess of the operating budget before payment occurs.
2. Reviews and updates its policies annually.
3. Reviews the current year’s income and expenses and considers budget requests in order to develop the next year’s budget.
4. Presents the developed budget to the session by the appropriate date.
5. Provides guidance to the treasurer and committee chairpersons.
6. Meets monthly when needed and prior to the session meeting.
7. Provides additional reports as needed.

1. Appoints two elders, two members at large, and a trustee.
2. Designates a chairman annually.
3. Appoints the treasurer annually.
4. Approves reimbursements for the pastor’s mileage and meals.
5. Approves withdrawals from the capital improvement fund and the reserve fund.

1. Ensures that all finance committee policies are followed.
2. Distributes forms and collects data for the budget-making process.
3. Leads the finance committee meetings.
4. Reports the church’s financial condition and other information to the session and to the congregation as requested or needed.
5. Determines the amount of weekly worship offering necessary to meet the year’s budget and reports that amount to the head usher so the amount can be placed on the register board.

1. The committee chairperson shall approve payments of bills which are not regular, ongoing expenditures.
2. All persons authorized to spend money shall stay within their budgeted amounts.
3. The Bank of America account shall be divided into the Capital Improvement, the Operating Fund, the Reserve Fund and other funds as needed. The finance committee shall distribute interest to the existing funds.
4. The capital improvement fund shall receive one-half of the net Harvest Sale proceeds until its cap is reached. (see Capital Improvement Fund)
5. The promotional fees and supplies for the Harvest Sale shall be deducted from the proceeds before the proceeds are distributed.
6. The operating fund shall be used if the balance in the local checking account is insufficient to pay the bills.
7. The reserve fund was established to cover at least three month’s expenditures in case of an emergency.

1. Benevolences—Gifts which are designed to meet a need in an effort to further the mission of Jesus Christ.
2. Balanced budget—An annual plan for balancing expenditures with income.
3. Directed income—Receipts that are processed through the general fund for a specific purpose and are not reflected in the annual budget.
4. Directed expenditure—The expenditure of directed income.
5. Bank of America account—A money market account owned by Mossy Creek Presbyterian Church in the Bank of America.
6. Shared Housing Equity—A percentage of the pastor’s salary which is invested to be used to purchase a home.
7. Capital improvements— (See the deacon’s definition under Capital Improvements Fund.)