The Finance Ministry is responsible for overseeing the collection and use of monetary assets of the church. It works with the Treasurer (who is responsible for disbursing funds and paying bills) and the Financial Secretary (who is responsible for receiving, depositing, and recording contributions). This ministry seeks to maximize the amount and the effectiveness of funds which can be used for Christian ministry and mission.
The functions of the ministry include:
- Budgeting: Like most organizations, the church projects its revenues and expenses on an annual basis. With the help of the other church ministries, the Finance Ministry formalizes the budget for presentation to the Church Council which in turn presents it to the Congregation. The goal is to estimate the giving of the congregation and determine the optimal use of these funds in support of the ministry of Emmanuel and our fair-share mission support of the ELCA.
- Investing, Planning & Projecting: The Finance Ministry advises the Treasurer how to invest monetary assets. It anticipates future capital requirements and arranges debt financing when needed. The ministry also assesses the adequacy of property insurance coverage.
- Reporting: This ministry keeps the church council informed of fiscal matters. Quarterly statements inform members of their estimate of giving and contributions to date. The ministry reports to the church council on a quarterly basis concerning actual vs. budgeted revenues and expenses (cash flow) and assets vs. liabilities (balance sheet).
- Auditing: this ministry oversees annual audits of the Treasurer's and Financial Secretary's books as well as the records of the church preschool.
- Managing: This ministry works with the property ministry to manage the rental property adjacent to the church. Together they review the terms of the lease, advertise the property and, when needed, check the credit-worthiness of applicants and collect the security deposits and rent.
