The Finance Committee is responsible for all financial affairs, including investments, of the congregation. It oversees the payment of all obligations, makes certain all monies allocated by the congregation for benevolence are paid to the synodical treasurer and is responsible for the accounting of all monies received by any and all organizations and schools operated by and under the name of St. Philip Lutheran Church, Raleigh, North Carolina. The Finance Committee prepares a draft budget for the succeeding year and submits it to the Congregation Council for its review and action. It works in conjunction with the Preschool Committee to prepare and present to the Congregation Council the Preschool budget for their fiscal year. The Finance Committee oversees the subcommittees on Memorials (“Memorials Committee”) and the Audit Committee.