As defined in Article V, Section 1 in the Silver Spring United Methodist Church (SSUMC) By-Laws, the purpose of the Budget and Operations Committee is to oversee SSUMC financial performance and establish financial management practices as needed. The Treasurer is chair of the Budget and Operations Committee. Other members will be appointed by the chair, or by the Nominating Committee. Each member shall serve one-year terms, (beginning in January of each year). Members may serve consecutive terms. The Financial Secretary shall sit as an ex-officio member of the Budget and Operations Standing Committee.

The Budget and Operations Committee Members shall make recommendations to the Leadership Council to ensure the following duties are fulfilled:

  • Establish the annual general budget at least one month prior to the end of the fiscal year
  • In partnership with the Personnel Committee, apportion salary and compensation of Lead Pastor and other appointed clergy
  • On a monthly basis, review SSUMC’s financial reports, make recommendations, and prepare and present a financial summary report at each Council meeting
  • Direct SSUMC staff and accounting firm to make changes in data reporting as needed
  • In partnership with the Governance Committee, establish policies for spending outside of the General Budget, including at least the following:
    • Requisite approval by the Council for Capital expenditures beyond the operating budget
    • Requisite approval by a Charge Conference on the recommendation of the Council for property purchases and/or expenditures exceeding 10% of total property value
    • Requisite approval of the Council for reserves to be used. 
  • Ensure, in conjunction with the Facilities Committee, that all trust funds of the congregation are invested properly
  • Assure financial policies and procedures are up to date and in place

In partnership with the church accounting firm, the Committee will also provide annual recommendations to the Council on big-picture financial thinking, including (i) analyses of SSUMC revenue and expenses and (ii) ideas for increasing and managing nontraditional revenue streams. 

The Committee will work with other committees, ministry teams, and SSUMC groups where there are financial interests that need to be considered and bring recommendations to the Council from this work as needed. This includes but is not limited to:

  • Collaboration with the Stewardship ministry team to bring updates to the Council on SSUMC’s annual stewardship campaign and fundraising efforts. This could include but is not limited to:
    • Annual goals
    • Mid-campaign updates
    • Final stewardship campaign results
  • Perform financial audit or appropriate engagement every 2 years or at the end of the incumbent’s term of office (e.g 1 year)
  • Establish and coordinate the work of an Endowment Sub-Committee to review SSUMC’s overall investment strategy and consider what, if any, changes need to be brought to the Council.

Additionally, the Committee will fulfill such other tasks that are assigned by the Council. The Committee shall conduct a bi-annual committee self-evaluation. The evaluation shall 

(i) compare the performance of the Budget and Operations Committee with the requirements of this charter, and 

(ii) recommend any improvements or enhancements deemed necessary or desirable by the Budget and Operations Committee. The evaluation shall be conducted in such a manner as the Committee deems appropriate.