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.
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outreach_application.pdf | |
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