Finance

Overview of the Finance Committee:
The ministry of the Finance Committee is to nurture the financial vitality of the congregation.¹

Finance Committee Responsibilities:

• Participates on the Stewardship Committee and ensures the church has enough income to cover our budget
• Partners with the various church committees to compile an annual budget
• Provides training and guidance to church committees to help them manage their budgets
• Administers funds received by the church
• Counts and deposits the weekly plate offerings
• Defines financial policies and procedures, and establishes internal controls
• Manages the Apportionment calculation
• Disburses funds and directs contributions in accordance with donors’ intent
• Works with the Finance Secretary to provide financial reporting to Ad Board and the various committees to help them track their monthly/annual spend and designated funds
• Provides updates to the UMC conference with annual reporting statistics
• Oversees church financial audits

 
Committee Members:
Dale Sasaki (Treasurer), Peter Hikido (Finance Secretary), Pat Higuchi, Roy Takeuchi, Kenton Kuwada, and Lori Tabuchi (Chair)

2023 Highlights:

• YTD operating income of $672K exceeds our YTD operating expenses of $626K despite some major improvements made to the church campus
• Given the Union Bank acquisition by US Bank, we completed the conversion of all of Wesley church’s bank accounts and consolidated funds from CA Bank and Trust
• Organized available cash to leverage the current economic climate and increased bank Money Market interest rates. Currently receiving approx. $6,000+ interest income per month.
• Cleaned up all expense line items and designated funds so that there is clear ownership of COM, Ad Board, and Staff items
• Implemented new Subsplash online platform

 
Respectfully submitted,
Lori Tabuchi
 
 
¹Finance Guidelines/Handling God’s Money in the Church by Cokesbury