God requires that money be handled in a faithful manner (Luke 16:10, 11). Our goal is to manage all financial gifts given to Hometown with integrity. Our financial system is designed to provide appropriate accountability, authority, and responsibility to trustworthy people in handling and spending the gifts entrusted to Hometown.
THE BOARD OF TRUSTEES
Final responsibility and authority for financial management at Hometown rests with the Board of Trustees. The Board is made up of two pastors, the Finance Director, and a lay person from each of our three campuses. In addition, the Executive Pastor is a non-voting member of the Board. The Board fulfills their responsibility in a number of ways by:
1. Approving the annual operating budget.
2. Monitoring the budget and the financial health of the church on a quarterly basis.
3. Approving all major church financial transactions.
4. Developing financial, legal, and employment policies.
5. Determining the employee compensation and benefits plans.
The Executive Pastor works with the Senior Leadership Team (a group of five pastors) to develop the vision and goals for Hometown Church. In addition, he works with the Board of Trustees to develop policies and to get an annual budget approved that supports this vision and goals. He is responsible to see that the budget is spent wisely in a manner that supports the vision and goals set by the Senior Leadership Team. As a safeguard, the Executive Pastor cannot write out checks for Hometown Church.
The Executive Pastor may delegate some of his responsibility and authority to a Campus Pastor or to specific Ministry Leaders who work with him in developing a budget and wisely spending the money in a manner that supports the goals and vision for Hometown Church. These Campus Pastors and Ministry Leaders can authorize expenditures for their area of responsibility, but they cannot write out checks.
THE FINANCE DIRECTOR
The Finance Director conducts the day-to-day activities of managing the money, following the Board approved budget, and implementing the policies determined by the Board. The Board, through audits, quarterly updates, and feedback from the Executive Pastor monitors the performance of the Finance Director. The Finance Director by himself cannot approve any budget, authorize any expenditure, or spend any money.
The Finance Director fulfills his responsibilities by:
- Leading the Finance Department
- Enforcing policies enacted by the Board
- Ensuring that controls, division of authority, and other safeguards are followed by all people who handle money
- Overseeing a number of volunteers and staff who do various finance related tasks
- Coordinating staff in putting together budgets and long range financial plans
- Making sure that Hometown is complying with tax and other legal matters
Over all, the financial system at Hometown is designed to give the Executive Pastor authority and responsibility to spend money to accomplish the ministry that God has entrusted to Hometown Church while at the same time providing appropriate accountability and controls on that authority. The Finance Department oversees the money, writing out checks that are properly approved by the Executive Pastor (or his designee) that are in alignment with the approved budget and church policies. The Finance Director oversees all day-to-day activities related to money management, while the Board of Trustees has final authority and decision making over all financial issues and policies.
Hometown's goal is to handle all financial gifts with integrity and to spend them wisely. The financial records of Hometown are subject to full audits every three years with audit reviews for the two years in between, all of which are conducted by an independent auditor in order to verify that financial gifts are being managed with integrity, that the financial reporting is accurate, and that the financial system is sound. The Board of Trustees has hired the accounting firm of CliftonLarsonAllen LLP to perform the yearly reviews/full audits. The auditor has repeatedly found the church’s financial statements to be complete and accurate. The auditor has also been greatly impressed with the efficiency of our administrative operations and has high praise for our staff and financial management systems.
If you have any questions regarding the management of Hometown's finances, please contact Jim Bird
, Finance Director at 952-564-3771.