by David Hagelin
Making a budget and working within it – and adjusting our spending habits if unexpected misfortune or good fortune visit us – is a big part of our financial decision making at home. The same applies to the church on a larger scale. One difference is that income typically is predictable at the household level. It is less so for a church, and this can make managing expenses more challenging.
The Finance Committee is responsible for the financial well-being of the church and is charged with managing Epworth’s financial resources to support the church’s vision (Exploring Faith and Embracing Community) and mission (Inviting, Belonging, Connecting and Caring). These efforts are crucial in helping Epworth thrive in ALL the ways we strive to make possible.
Because this work is a vital function of a church rather than a corporation, it is as much a ministry as a business function. Prudent stewardship of gifts made to the glory of God and the benefit of Epworth and the community is critical to attaining the church’s vision and mission.
The Committee works with the pastors, the office/finance manager and church leadership to craft an annual budget for each fiscal year (July 1 to June 30) and to encourage and monitor giving and to maximize other income streams, such as renting church space and sponsoring fundraising activities. Tracking and managing expenses in conjunction with pastors, staff and church leaders is another obligation. So is communicating the state of the church’s financial health to our church family; this typically is accomplished through updates in the weekly announcements, letters that accompany mailed giving statements, and occasional congregational meetings.
Successful implementation of our vision and mission depends on sufficient funding for:
- Compensation and benefits for pastors and staff
- Required support of the UMC Conference (Pen-Del) and District (Dover) with which we are affiliated, also known as our apportionment
- Maintenance of, and repairs to, the church building, facilities and grounds, and purchase of needed supplies
- Our many ministries and groups
- Utilities, insurance and similar necessary expenses, and
- Unexpected major expenses
The Finance Committee currently has seven members in addition to the chairs of the Governing Board, Board of Trustees and SPRC. The lead pastor and office/finance manager also play key roles in the Committee’s work and take part in its monthly meetings. The Finance chair serves on Governing Board as well.
Current committee members are Scott Button, financial secretary; Rob Cline; Dennis Drenner; David Hagelin, chair; Jeanne Jerfsten; Linda Kauffman, Governing Board chair; Bunny Maher, Trustees chair; Sandy Pierce, SPRC chair; Bob Thoman, treasurer; and Fred Yates. Tammy Zhang, office/finance manager, and Pastor Vicki Gordy-Stith are important partners in Committee activities.
Committee terms are for three years. While some financial background is useful, a desire to work with others to help Epworth thrive financially is the main requirement.
In addition to reviewing monthly financial reports and analyzing/approving changes in strategy, the Committee plans and conducts the annual Stewardship Campaign each spring and oversees the Legacy Society, which administers the Planned Giving and Endowment Fund and promotes congregational support of the Fund.
Also under the Finance Committee umbrella is the Fundraising Committee, which was formed in 2023 to plan events that produce revenue for the church with a focus on the general fund. This team includes Finance representatives but primarily other church members. Events held so far include a golf outing, a concert, cornhole tournament, and chicken dinner for the congregation and community. Fundraising efforts benefiting the general fund as well as specific groups or ministries must receive Finance Committee and Governing Board approval. If you have a potential event in mind, feel free to contact Fundraising Committee chair Sue Brenton.
We need all of the Epworth family to help our church thrive. Thanks for all you do to attain this goal!