Working Group – Proposed Terms of reference
The Finance Group to be renamed “Finance and Stewardship Group”
Function;
The Function of the group is to co-operate with the incumbent and PCC in promoting the whole mission of the church by ensuring proper financial governance in all financial matters within the remit of the PCC
Membership;
Members appointed by the PCC;
The Treasurer – [Chairperson]
The Incumbent
Two designated PCC members
Gift Aid Secretary – [co-opted]
Treasurers Assistant – [co-opted]
Responsibilities;
1. to prepare an annual budget, following consultation with budget holders, and submit it to the PCC for ratification not later than the preceding November.
2. to monitor the agreed budget against expenditure, producing a bi-monthly report and circulating it to members of the Finance and Stewardship Group and the PCC
3. to prepare annual accounts for the auditors in time for approval by the PCC and submission to the APCM
4. to advise the PCC about the banking requirements necessary for the efficient running of the church
5. to regularly monitor cash flow and ensure monthly bank statement reconciliation
6. to oversee all the details of receipts and payments, including banking, security and salary payments
7. to establish ‘parish financial procedures’ and amend / update as required and submit to the PCC for ratification; to advise groups within the church on appropriate financial procedures
8. to ensure Gift Aid Tax claim on a quarterly basis and gift aid small donations annually
9. to liaise with Church Wardens and the PCC regarding insurance and employment issues
10. to encourage planned giving and other sources of income within the church
11. to work in consultation with Incumbent regarding Stewardship initiatives back to PCC Sub-group list