Finance Ministry

The finance portfolio is responsible for the management, coordinating and reporting of all financial transactions and activities within St Monnicas. The portfolio is furthermore responsible for the implementation and monitoring of the necessary controls, checks and balances to ensure that financial activities and cash flow management within the Parish are performed in line with international best practices and that standard accounting practices and good governance are observed as far as financial interests are concerned.

Activities of this Ministry includes the following:

The key functions and roles of the finance portfolio are:

·         Preparation of an annual budget and financial report for annual vestry meetings

·         Preparation of the monthly finance report and presentation of the report at monthly Executive and Council meetings

·         Presentation of financial reports to the Congregation when required

·         Preparation of monthly income and expenditure to ensure that an accurate annual Income Statement and Balance Sheet is maintained

·         Accurate recording and reporting of dedicated giving, sponsorships, donations and outreach programme funds

·         Deliver a quarterly report to the congregation to highlight income and expenditure against the annual budget

·         Ensure that cash management (including banking procedures) procedures and well documented, implemented and monitored

·         Ensure the accurate recording and capture of financial transactions and ensure that relevant documentation is safely stored

·         Manage the Diocese account on a monthly basis

·         Explore and advise the Executive Committee on investment opportunities to enhance wealth creation and create financial stability

Membership:

Members of the Finance Ministry are volunteers. Led by a Ministry leader, who forms part of the Council, this Ministry meets regularly to plan its activities and to monitor the implementation of its activities. The Ministry receives some support from the administration team of the church in executing its activities.

 

There is a need for more members of this committee, especially from the youth who have interest in financial management career.

To join this Ministry, members of the Church should contact the administration office of the Church.