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Financial

Church Budget Cycle

Created by the Finance Committee—Ted Live, Steve McMullin, and Sue Sheffler—April 19, 2011

The goal of this document is to establish ongoing, clear communication among church entities about church finances that support our mission, and to provide a coherent understanding of the overall process to all incoming committee members throughout First Parish.

May

Annual Meeting, budget approved for next FY

As a communication vehicle during FY transition, FinCom members attend a meeting of the Music, RE, and Property Committees before the summer hiatus to explain who we are and the budget process.


June

FY begins


July/August

Summer hiatus


September

Annual audit

Semi-annual summit meeting of Trustees, FinCom, and ParCom rep, (includes Treasurer)


Ocober

FinCom discussions with RE, Music, Property, and other committees; FinCom members attend various committee meetings to help articulate needs and priorities

FinCom asks staff for budget input

FinCom requests status of current-year pledges from Asst. Treasurer

Trustees report distribution to FinCom

FinCom creates budget draft and submits to ParCom


November

ParCom, or subcommittee, reviews budget draft

FinCom produces semi-final draft


December

ParCom approves budget

Stewardship sets pledge goal ("% increase" based on current pledge level)


January

FinCom supports stewardship campaign (e.g., revise stewardship brochure)


March

FinCom and Trustees' reports prepared for Annual Report


April

Semi-annual summit meeting of Trustees, FinCom, ParCom rep, and CCET rep (includes Treasurer)

FinCom creates high-level budget for Annual Meeting

ParCom approves final budget


May

Annual Meeting, congregation approves budget for next FY


630 MASSACHUSETTS AVENUE   ♦   ARLINGTON, MASSACHUSETTS 02476   ♦   781-648-3799

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