The Finance and Facilities Board is apppointed by and accountable to the Vestry.
Purpose: to handle all matters relating to the financial health of St. Philip's church, including budgets, audits, investments, debt; to maintain the physical health of the buildings and grounds.
Voting Membership:
The Board will be composed of:
Chairman : Don Halbert
Communicator : Margaret Bearden
Treasurer: Bob Fuchs
Endowment Representative: Jim Belvin
Investment Representative : Margaret Bearden
Building & Grounds Representative: Bryan Wester
New Parish Hall Representative: Bill Bittenbender
Stewardship: Ruth Smith
Other representatives as ministries are called into being.
Ex Officio Members: (non-voting)- Rector, Senior Warden, Junior Warden
Members will serve for no greater than 10 years, their membership being renewed annually. A quorum will be three active members present.
Responsibilities:
- Consulting with all stakeholders and with the results of the annual Stewardship Drive, prepare a budget for the succeeding year to be passed by the Vestry at its November meeting and shared with the congregation at the Annual Meeting. This will include salary recommendations made by the Rector annually for all paid staff.
- Monitor the budget monthly and report any concerns to both Vestry and other Boards
- Receive and pass on all requests for unbudgeted spending
- Develop and enforce an Investment Policy for all endowments and other funds
- Conduct an annual audit according to canonical requirements
- Review all contracts and capital operating leases
- Review all "Temporarily Restricted Funds"
- Review annually all insurance policies
- Support the work of the Buildings and Grounds committee, providing funds for both annual upkeep and capital improvements
- Develop a Capital Reserve Plan
- Conduct and account for any Capital Campaigns of the congregation
- Create and implement a plan for endowments which will help sustain St. Philip's in the future
