The Finance Committee is responsible for supervising the financial operations of St. Mary’s Church. According to the Constitution and Canons of the Diocese of Virginia, the committee shares with the Rector and Vestry the fiduciary responsibility for maintaining the integrity of the revenues and expenditures made on behalf of the parish. To this end, the committee, together with the Rector and the Parish Administrator:
- Develop an annual operating budget, and submit the budget to the Vestry for approval;
- Collaborate with the Stewardship Committee to raise annual pledge revenue to fund the annual operating budget;
- Provide for an annual audit of the funds held by the parish, and submit such audits to the Treasurer of the Diocese;
- Invest the endowment, reserve, and cemetery & churchyard funds to provide for the future of the parish;
- Recommend to the Vestry for approval any extraordinary expenditures that may arise within a budget year;
- Maintain a membership composed of active communicants, each of whom will serve a four-year, rotating term.