The Finance Committee is a standing committee of the Board of Trustees and is chaired by the Treasurer. The Board has delegated to the Finance Committee various responsibilities related to fiduciary management and review. These include:
- Monitoring compliance with section 3.3 of the Governing Policies in the areas of Financial Planning,
- Budgeting, Financial Condition and Activities, and Asset Protection;
- Reviewing the annual budget and making recommendations;
- Explaining and taking comments about the annual budget from the Congregation;
- Reviewing and presenting monthly financial reports to the Board of Trustees ;
- Contracting for an external audit each year and receiving a report from the Auditor;
- Reviewing compensation of employees in accordance with the Conflicts of Interest & Executive
- Compensation Policy and making recommendations to the board.
Budgeting at First Unitarian Portland
Budgeting at First Unitarian is led by the Executive Team with input from the Board and congregants. Our policies direct the Executive Team to present a draft budget to the Board’s Finance Committee at their February meeting. This budget is typically not in balance, but points to work and decision-making that yet needs to be done. The Finance Committee and Executive Team review the draft budget in detail at this meeting, and the Executive Team takes the budget back for revision. The Treasurer also schedules an informational meeting on the budget for congregants in February to receive congregant input on the budget and relay this feedback to the Executive Team. The Executive Team presents a final balanced annual budget proposal to the Finance Committee at its March meeting. On occasion, another revision and an extra Finance Committee meeting to review and approve the final budget must be held. The Finance Committee then presents the recommended budget to the Board for review and approval at the Board’s April meeting. The Board schedules information sessions for congregants on the budget and other items being voted on in the May election. In May the congregation votes on the budget and other Church matters.
September: Finance Committee and Executive Team host congregant meetings to review year-end budget (July 1-June 30) results.
November: Finance Committee and Executive Team host congregant meetings to review 1st quarter budget (July1-September 30) results.
February: Finance Committee and Executive Team host congregant meeting to review 6 months budget (July1-December 31) results and get budget input from congregants. Executive Team presents draft budget to the Finance Committee.
March: Executive Team presents final budget proposal to the Finance Committee. Finance Committee approves the budget or refers back to the Executive Team for a final revision and approval.
April: Board Receives and approves the final annual budget.
May: Board schedules information sessions with congregants on the budget and other items on the May ballot. Congregation votes for the annual meeting.
Note: Finance Committee and Board meetings are open meetings and all congregants are welcome to attend. Meetings may go into Executive Session to address issues involving privileged information and matters of a private nature.
4th Tuesday of the month from 5:00-6:30 pm, September through June, summer months vary. Double check church calendar for any changes due to holidays.
Finance Committee Documents
Recent financial reports and minutes from the Finance Committee can be found at the Board Packet Page, which is updated monthly, before each Board of Trustees meetings. Additional Finance Committee materials are posted below.
Finance Committee Meeting Minutes
Graphical Fact Sheets