Here's the link to the Financial Stewardship Policy  document - clientimages/25553/financialstewardshippolicy.doc

 

We've also copied it below.

1.  Purpose

This document is to establish a policy defining the process for receiving and disbursing gifts as described in the Book of Discipline, 2008 (2528.3). This policy is to direct responsibility as described henceforth through the authority of the Church/Charge Conference.

2.  Definitions

2.1.      Gifts

Per The Discipline, “gifts” include conveyances, grants, gifts, donations, legacies, bequests, or devises, absolute or in trust, for the use and benefit of the local church.

2.2.      Undesignated Gifts

A gift is considered undesignated when the donor has given no indication for disbursement or preference of utilization.

2.3.      Designated Gifts

A gift is considered designated when the donor has chosen a specific use or preference of disbursement.

2.4.      Extraordinary Gifts

Gifts with equivalent monetary value equal to or greater than $5,000 are considered extraordinary and are given special consideration as described below.  

3.  Duties of Church Council and Finance Committee

3.1.      Summary

The Church Council and Finance Committee are charged with receiving and disbursing gifts through a process as defined henceforth.

3.2.      Educate Congregation

The Finance Committee shall educate the congregation on the gifting process to ensure that givers understand how gifts are administered and how to properly designate gifts. 

3.3.      Accept Gifts

3.3.1.          Criteria for Acceptance

The Church Council and Finance Committee have sole authority to determine if gifts are appropriate for the church’s mission and vision with the exception of gifts designated for the Permanent Endowment Fund (PEF), which will be accepted or rejected by the Permanent Endowment Fund Committee (PEFC).

 

The Church Council and Finance Committee shall determine the disposition of all other gifts (designated or not designated).

 

Considerations for gifts to be accepted or rejected shall include but not be limited by the following:

 

(1)   Whether the gift is sufficient to accomplish its designation.

(2)   Whether the gift is appropriate financially.

(3)   Whether the gift is appropriate ethically.

 

Acceptance of extraordinary gifts must be reviewed and approved by the Church Council and the Finance Committee.

 

Undesignated gifts less than $5,000 may be brought to Church Council review at the Finance Committee’s discretion. The Finance Committee will review gifts on a case-by-case basis and determine their disposition.

3.3.2.          Undesignated Gifts

Undesignated gifts below the extraordinary gift threshold are deposited into the general fund and will be disbursed according to published spending priorities established by the Church Council.

3.3.3.          Holding Account

At the discretion of the Finance Committee, gifts shall be invested, short or long term, depending on the planned spending horizon of the gift.

 

Partial designated gifts may be invested in a holding account chosen by the Finance Committee until sufficient funds are accumulated in that account to pay for its designation.

 

Designated gifts in accounts held longer than 5 years without getting disbursed due to insufficient funds or change in appropriateness, may need to be reconsidered with the involvement of the Donor or Donor’s representative. In the case the gift exceeds the need, the disposition of the excess will be discussed with the Donor or the Donor’s representative. In either case, if the Donor or Donor’s representative can’t be found, the disposition of the gift will be made by the Church Council.

3.4.      Disburse Gifts

3.4.1.          Disbursement Priorities of General Fund

The Finance Committee shall propose and present spending priorities for review and approval by the Church Council. Church Council may modify the spending priorities at any time as it deems necessary. This spending priority shall be made public to the congregation.

 

Spending priorities may include but are not limited to the following: Church building maintenance, enhancement, upkeep, expansion; Education; Outreach; Missions, and Permanent Endowment Fund.

3.4.2.          Designated Gifts

Designated gifts are accounted for as Designated Funds on the balance sheet and disbursed by the Treasurer according to their designated purposes.

3.4.3.          Extraordinary Undesignated Gifts

For each extraordinary undesignated gift, the Finance Committee shall propose a specific allocation for that gift which shall be reviewed and approved by the Church Council prior to disbursement.

3.4.4.          Income Produced by Other Programs

Funds from programs producing income for a designated purpose (i.e. mission dinners and youth group sales) shall be treated the same as designated gifts.

 

Funds from programs producing unbudgeted and undesignated income (i.e. Care and Share) shall be treated the same as extraordinary undesignated gifts.

4.  Amendments

The terms and conditions of this policy may be amended only by approval of two-thirds (2/3) vote at a duly-announced Church/Charge Conference of the Church.