Meeting Time: Sundays prior to the 2nd Tuesday of the month, 11am
Status: open to active church members only
Chair: Kevin O'Neill
The Finance Team is charged with nurturing the financial well-being of UUSG by ensuring its financial assets are managed responsibly, according to accepted financial practices, and in harmony with our values.
The Finance Team works closely with the Treasurer, the Assistant Treasurer, and the Congregational Administrator, as well as with the Board and Ministry Teams, to:
- Recommend accounting processes, financial reports and money management practices.
- Review monthly financial transactions.
- Verify the reconciliation of bank account balances.
- Review the annual budgeting process for the Operating Budget.
- Provide input and assistance on business affairs, e.g., property and liability insurance.
- Oversee and recommend financial investments.
We currently have eleven members on the team. We are always looking for new team members who, at a minimum, will contribute their viewpoints and suggestions during our monthly Finance Team meeting.
The team meets monthly at 11am on the Sunday before the Board meeting and the meeting lasts about 1 ½ hours.
For more information, send an email to firstname.lastname@example.org, or contact Kevin O’Neill (Finance Team Leader), Bill Scown (Treasurer), or Jim O’Malley (Assistant Treasurer).
UUSG relies on pledges and donations from its members and friends to pay for its religious and educational programs, and operating expenses. These donations and pledges help us achieve our mission, which is to be a welcoming congregation that endeavors to make its Covenant a living reality.
Our finances include an annual operating budget and an endowment fund. Each has a purpose that benefits UUSG in a unique way.
Every organization needs money to pay for its day-to-day operations. Our operating expenses are organized into three categories: people, programs, and place.
The People portion of our operating expenses includes the salaries and benefits paid to our staff, i.e., our Minister, Congregational Administrator, Church School Administrator, Childcare Staff, Custodians, and Musicians.
Our “Programs” budget allows us to offer a wide variety of educational, community service, and pastoral care programs. For example, we offer worship services and religious education to children, teenagers, and adults. We provide financial and volunteer support to local service organizations such as the Lazarus House, the Pottawatomie Habitat for Humanity, and the Illinois Youth Center in St. Charles.
The Place portion of our Operating Budget represents the expenses for keeping our facility open and maintained. This includes utility costs, insurance, and maintenance.
The Operating Fund is planned and budgeted each year. Pledges from members and friends provide about 85% of our annual operating income. The remainder comes from weekly in-service cash donations and fundraising projects (e.g., Cookie Walk and Swedish Days Pizza Booth).
Elsa Ollsson Capital Endowment Fund
Each year a portion of the Endowment Fund is used to finance building improvement projects. However, the overall purpose is to provide a financial base that will be used to help us grow as our congregation grows, expand our impact in the community, and ensure we can continue to provide quality staff and programs.
The money in this Fund is invested in mutual funds. The Finance Committee manages these investments and has applied socially responsible investing (SRI) principles to ensure these investments align with our values.
The fund is named after Elsa Ollsson, a long-time church member, who made a significant bequest to the church in 1991. In commemoration we created the Ollsson Trust. Then in 2007, we enhanced it with other funds and renamed it the Elsa Ollsson Capital Endowment Fund.
There are three sources of income to the Fund: targeted donations, bequests, and investment appreciation. Over the years we have received generous support from our members in the form of bequests and donations targeted specifically to this Fund.
UUSG strives to build a world community founded on justice, compassion, and peace, while providing religious, educational, and pastoral support to its members and friends. To support these ideals and achieve these goals, ongoing financial support is required. Our members and friends have the responsibility, and the privilege, to support UUSG through their pledges and donations.
We also encourage our members and friends to participate in a planned giving program where they can make periodic, targeted donations.
Finally, we ask our members and friends to consider including UUSG in their estate planning. Your bequest can help us grow our existing endowment fund and provide the financial support needed to carry on the tradition and values of the UUSG for years to come.