Outreach Financial Policy

HPUMC In His Steps (HIS) Bible Study
Outreach Financial Policy
2014

PURPOSE: To establish parameters upon which to implement Class Outreach contributions. As instructed by numerous scripture, we are to be good stewards of the monies received for use by the Church and its related ministries.
OBJECTIVE
To financially support the ministries of HPUMC, the United Methodist Church, and other Christian organizations.
SOURCE OF FUNDS
Contributions are collected by two methods:
·       Directly from class Sunday morning passed collection
It should be noted that only 50% of CASH funds collected and/or allocated to the IHS are retained by IHS. The balance is provided to the General Church Fund for general operating budget. If contribution is by check, 100% is allocated to IHS
·       As designated by class members from contributions made to the General Church Fund
USE OF FUNDS
Each year, a spending plan for various ministries will be developed through the budgeting process.   The following guidelines shall apply to all funding by IHS.

UNDESIGNATED/UNRESTRICTED GIFTS (Those in excess of mandatory Reserve)
Shall be utilized as deemed necessary and prudent by the Outreach Committee subject to the following:
·       All ministerial donations made during the previous year will be submitted to the class for review. Such submission shall include, but not be limited to:
o   Purpose of the ministry and its sponsorship
o   How the funds are to be used
o   What percentage of its total funding is provided by IHS
·       There will be an opportunity for class members to recommend additional and/or alternative uses.
·       The Outreach Committee may consider recommendations, however, in no event is bound to honor such requests.
·       No funding will be designated to an individual, pursuant to Internal Revenue Service rules.
·       The final budget for the year will be provided to the class for approval each first Sunday of December.
DESIGNATED/RESTRICTED FUNDING
Not currently an option unless specifically authorized by members of the Outreach Committee or class president. (Designated funding being a donation for a specific ministry being served by IHS).
RESERVE FUNDS
A reserve fund shall be maintained at all times, in the amount of not less than $5,000 or more than $10,000. It is the objective of the general fund to be utilized for ministerial, social, and educational activities.
          RESTRICTIONS AND LIMITATIONS FOR GIVING
o   The Outreach Committee shall meet in October and May of each year in order to determine outreach recipients. Special meetings may be called as needed.
o   Minimum Amount Considered shall be no less than $100
o   Maximum Amount Considered shall be no greater than$1000
o   Maximum Amount which may be administered by Outreach Committee shall be $500.
          OUTREACH RECIPIENTS – TO BE REVIEWED BY OUTREACH COMMITTEE
          All information will be included in Application for Funding (attached)
Non Profit Christian Organizations
(Identify the type of Christian Organizations considered and the work they accomplish with funds contributed)
·       Missions and Missionaries sponsored by HPUMC or the United Methodist Church
·       Individuals and Families – Must be compliant with IRS rules
·       Christian Missions or ministries, domestic and foreign
APPROVAL PROCESS FOR GIVING –
Committee has authority to approve requests for $500 without Class
vote
a.     Application Form
b.    Committee to review for acceptance of request subject to due diligence
c.      Due Diligence Review
d.    Committee Report and Recommendations (See attached Application for funding
e.     Committee Approval before submission to In His Steps Bible Class
f.       If a vote is required, class members present and voting will be given the opportunity to do so.
COMMITTEE COMPOSITION
The Outreach Committee will be composed of four class members plus the current Class President. Terms shall be for a period of two years with the limitation of two consecutive terms.   Selection of the Committee Chairman will be at the discretion of the Class President.
With respect to the current committee, two members will complete their terms as of September 2014. The remaining two members will serve through August 2015.
FINANCIAL RECORDS
The IHS Treasurer shall maintain adequate financial records of the operations, including general contributions, designated contributions, and disbursement of funds. Such records shall be reviewed annually by at least two members of the Outreach Committee and the class president.