Christ Church re Sacraments

As I read Christ Church’s Statement of Faith re Church Government I am struck that I don’t find any of the ‘heresy’ that others are so quick to charge them with. Is there anything below that is outside the bounds of orthodoxy?

We believe the Lord commissioned His church to undertake the discipleship of the world (Matt. 28:18-20). At that time, He commanded baptism with water in the name of the Father, Son, and Holy Spirit. Baptism with water is therefore an ordinance of the Christian church, and the elders of the church are responsible to ensure that baptisms are administered in a scriptural fashion, and that the proper signification of water baptism is preserved and maintained. We affirm that water baptism signifies union with Christ (Rom. 6:3-7), the baptism of the Holy Spirit (1 Cor. 12:13), the washing away of sin (Acts 22:16), the washing of regeneration (Tit. 3:5), the outpouring of the Holy Spirit (Tit. 3:6; Acts 10:44,47), and the circumcision of the heart (Col. 2:11-12).

We deny that water baptism imparts grace by means of water. God imparts grace to His saints to enable them to obey Him (2 Cor. 9:8), and strengthens them further by grace in that obedience (Heb. 12:14-15). The faithful observance of water baptism constitutes one part of that obedience.

and:

We believe baptism in water and the Lord’s Supper to be external signs of covenantal, historical and spiritual realities.

We deny that they are automatic means of blessing. Grace comes to us through faith alone. Any biblical means to build biblical faith is therefore a means of blessing and grace — especially including water baptism and the Lord’s Supper.