Finance Committee - Bylaws 26
FINANCE COMMITTEE (TRUSTEES)
Size of the committee.
This will be determined by the Coordinating Committee. It shall have not less than three (3), nor more than nine (9) members.
Throughout the year, members will meet as needed to fulfill the committee’s task.
• Assist with financial administration of the Yearly Meeting by:
Providing support and accountability for the Treasurer.
Reviewing financial reports for accuracy and clarity.
Monitoring adherence to the budget throughout the year, providing updates to the Coordinating Committee.
Determining whether to accept a designated gift to SCYMF. If the gift is accepted, tracking the designated gift as required by law so that it is administered in accordance with the wishes of the donor(s).
Causing the titles of all real and personal property owned by SCYMF to be vested in its corporate name.
• Assist with financial visioning for the Yearly Meeting by:
Receiving financial commitments from churches and individuals and summarize them along with other expected income, recommending total expected revenue to the Coordinating Committee.
In cooperation with the Coordinating Committee, periodically communicating to local faith communities what is needed to fully fund an annual budget or long-term financial goals.
Recommending a total level of annual expenditure to the Coordinating Committee.
Recommending, from time to time, a financial strategic plan or substantial changes to historic budgeted expense levels.
• Safeguard the Yearly Meeting’s assets by:
Obtaining appropriate insurance protection for the Yearly Meeting.
Creating the Yearly Meeting’s internal financial controls.
Verifying that policies adopted by the business meeting or Coordinating Committee concerning risk management issues are implemented throughout SCYMF (e.g., child/youth safety, transportation issues, background checks, property and finance protection.)