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Wednesday, August 8, 2012
Book of Discipline ¶ 259.4 - Finance Committee
4. There shall be a committee on finance, elected annually by the charge conference upon recommendation by the committee on lay leadership or from the floor, composed of the chairperson; the pastor(s); a lay member of the annual conference; the chairperson of the church council; the chairperson or representative of the committee on pastor-parish relations; a representative of the trustees to be selected by the trustees; the chairperson of the ministry group on stewardship; the lay leader; the financial secretary; the treasurer; the church business administrator; and other members to be added as the charge conference may determine. It is recommended that the chairperson of the committee on finance shall be a member of the church council. The financial secretary, treasurer, and church business administrator, if paid employees, shall be members without vote.
501(c)3 Resources for Finance leaders: Department of the Treasury: 501(c)(3)
For churches requesting Equitable Comp, due September 14, 2012 for 2013 calendar year. Please click on the link below, fill out the form, and email it to: email@example.com
2013 Equitable Compensation Form
Salary/Benefits Recommendations for 2013
The minimum salaries as approved by the 2012 Annual Conference:
- Full Connection - $38,300
- Transitional Deacons and Commissioned toward Deacon or Elder - $35,500
- Associate Members - $34,650
- Full-Time Local Pastors - $32,800
IRS Tax Information
Change in the 2011 Social Security Taxes
In 2011, the social security rate for employees will be reduced to 4.2%; a reduction of 2% from the 2010 rate of 6.2%.
The maximum wage base of $106,800 remains unchanged.
As a result, individuals could end up with a payroll tax savings of up to $2,136 in 2011.
The self-employed will pay 10.4% in 2011 instead of the 12.4% paid in 2010. Self-employed pay the full 6.2% of the employer contribution, plus 4.2% of the employee contribution.
IRS Increases Mileage Rate to 56.5 Cents per Mile