First Presbyterian Church of Santa Fe
Financial Policies Manual
2016
Approved by Session September 21, 2016
©2016byFirstPresbyterianChurchofSantaFeFirstPresbyterianChurchofSantaFe208GrantAvenueSantaFe,NM87501Telephone:505‐982‐8544
Table of Contents I. Institutional Information ............................................................................................ 7
A. LegalNameandInformation...................................................................................................................................7
B. TaxExemptStatusandGoverningDocuments...............................................................................................7
C. StatementofPurpose..................................................................................................................................................7
D. History...............................................................................................................................................................................8
E. GoverningCouncil........................................................................................................................................................8
F. PastorandStaff..............................................................................................................................................................8
G. Committees.....................................................................................................................................................................8
II. Policy Scope and Background ............................................................................... 11
A. Scope...............................................................................................................................................................................11
B. Background..................................................................................................................................................................11
III. Definitions ............................................................................................................... 13
A. GiftInstrument...........................................................................................................................................................13
B. Funds...............................................................................................................................................................................13
IV. Acceptance and Management of Gifts and Donations ...................................... 19
A. General...........................................................................................................................................................................19
B. EthicalObligationsRegardingSolicitationandAcceptanceofGifts...................................................20
C. ApprovalandManagementofGifts...................................................................................................................21
D. MemorialandEndowmentFunds......................................................................................................................25
E. SpecialOfferings,FundraisingCampaignsandGrants.............................................................................26
F. MiscellaneousProvisions.......................................................................................................................................27
V. Financial Assets Management ............................................................................... 29
A. PurposeandScope....................................................................................................................................................29
B. ManagementofCashandCashEquivalents..................................................................................................29
C. ManagementofInvestments................................................................................................................................30
D. Objectives......................................................................................................................................................................30
E. Strategy..........................................................................................................................................................................30
F. InvestmentGuidelines.............................................................................................................................................31
G. AcceptableRangesofInvestmentCategories...............................................................................................31
H. Implementation—InvestmentCommittee.....................................................................................................32
I. PortfolioSelection,Review,andChanges.......................................................................................................33
J. DeterminingDistributionsfromtheInvestmentPortfolio.....................................................................33
K. EffectofGiftRestrictions........................................................................................................................................33
L. DelegationofManagementandInvestmentFunctions............................................................................34
VI. Non-Contribution Revenue ................................................................................... 35
A. PurposeandScope....................................................................................................................................................35
B. UserFees.......................................................................................................................................................................35
C. Rents................................................................................................................................................................................35
D. CDCTuition..................................................................................................................................................................35
E. OtherNon‐ContributionRevenue......................................................................................................................36
VII. Budget and Fund Management ............................................................................ 37
A. Overview.......................................................................................................................................................................37
B. BudgetandSpendingPlanPreparation...........................................................................................................37
C. EstablishmentandClosureofSpecialPurposeFunds..............................................................................38
D. TypesofSpecialPurposeFunds..........................................................................................................................38
E. BudgetandFundExpenditures...........................................................................................................................41
VIII. Accounting and Financial Reporting Practices ................................................ 43
A. RestrictedandUnrestrictedGifts.......................................................................................................................43
B. FinancialReports.......................................................................................................................................................44
C. AnnualAuditandReports.....................................................................................................................................44
IX. Benevolence Policy ............................................................................................... 45
A. Background..................................................................................................................................................................45
B. PurposeandAdministrationofBenevolenceFund....................................................................................45
C. OversightandAccountability...............................................................................................................................45
D. Revenues.......................................................................................................................................................................45
E. RequestsforBenevolentAssistance.................................................................................................................46
F. GuidelinesforSelectionofRecipients..............................................................................................................46
G. TypesofAssistance...................................................................................................................................................47
H. ProcessingofRequestsandDisbursementofFunds.................................................................................47
X. Internal Controls ..................................................................................................... 49
A. SessionResponsibility.............................................................................................................................................49
B. CashReceipts...............................................................................................................................................................50
C. CashDisbursements.................................................................................................................................................52
D. BankStatements........................................................................................................................................................54
E. Vendors..........................................................................................................................................................................55
F. Payroll.............................................................................................................................................................................55
G. Investments..................................................................................................................................................................55
H. PhysicalAssets............................................................................................................................................................56
I. ComputerSecurity....................................................................................................................................................56
J. Safe...................................................................................................................................................................................57
K. Debt..................................................................................................................................................................................57
L. Bonding..........................................................................................................................................................................57
XI. Insurance and Risk Management ......................................................................... 59
A. PurposeandScope....................................................................................................................................................59
B. DelegationofInsuranceandRiskManagementFunctions.....................................................................59
C. GeneralInsuranceGuidelines..............................................................................................................................60
XII. Contracts and Other Agreements ........................................................................ 63
A. Purpose and Scope:............................................................................................................................................63
B. Legal Documents or Instruments...............................................................................................................63
C. ManagementAuthorizations..........................................................................................................................64
D. Documentation and Filing...............................................................................................................................64
XIII. Document Retention and Destruction Policy .................................................... 65
A. PurposeandScope....................................................................................................................................................65
B. RetentionSchedule...................................................................................................................................................65
Appendices .................................................................................................................. 67
AppendixA:ResponsibilitiesofFinance‐RelatedCommitteesandOfficers................................................67
AppendixB:ConflictofInterestPolicy.........................................................................................................................71
AppendixC:ExpenseReimbursementPlan...............................................................................................................77
AppendixD:AcceptableRangesofInvestmentCategoriesintheInvestmentPortfolio.......................79
AppendixE:CashHandlingPolicy..................................................................................................................................81
AppendixF:SpecialPurposeFundIdentificationDocuments...........................................................................83
AppendixF‐1:SpecialPurposeFundsRelatedtoWorshipandMusicProgram.......................................87
AppendixF‐2:SpecialPurposeFundsRelatedtoFacilities/PhysicalPlant................................................92
AppendixF‐3:SpecialPurposeFundsRelatedtoMissionandSocialJustice.............................................95
AppendixF‐4:SpecialPurposeFundsRelatedtoChristianEducation.......................................................102
AppendixF‐5:SpecialPurposeFundsRelatedtoChildDevelopmentCenter(CDC)...........................104
AppendixF‐6:SpecialPurposeFundsRelatedtoCongregationalCare......................................................106
AppendixF‐7:SpecialPurposeFundsRelatedtoOtherFundActivities...................................................108
AppendixF‐8:PC(USA)OfferingAccounts.............................................................................................................111
Forms ......................................................................................................................... 117
FPCSpecialPurposeFundIdentificationDocumentTemplate......................................................................117
FPCAgreementforOfferingCounters.......................................................................................................................118
FPCCheckRequisition......................................................................................................................................................119
FPCIncomeDistributionWorksheet..........................................................................................................................120
FPCConflictofInterestDisclosureStatement........................................................................................................121
ExpenseReimbursementPlanAcknowledgement...............................................................................................123
Tables ......................................................................................................................... 125
Table1‐CommitteeChairPositions..........................................................................................................................125
Table2‐Officer/Staff/VolunteerPositions...........................................................................................................126
Table3–CheckSignatories............................................................................................................................................126
Table4–Vendors................................................................................................................................................................126
Table5–ThirdPartyCharities.....................................................................................................................................127
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I. Institutional Information
A. Legal Name and Information
FirstPresbyterianChurchofSantaFe208GrantAvenueSantaFe,NewMexico87501Phone:505‐982‐8544E‐mail:[email protected]:www.fpcsantafe.org
B. Tax Exempt Status and Governing Documents
FirstPresbyterianChurchofSantaFe(alsoreferredtohereinasthe“Church”or“FPC”)isanonprofit,tax‐exemptNewMexicocorporationorganizedforbenevolent,charitable,educational,mission,andreligiousserviceandworshippurposesinaccordancewith:
Itsoriginal,amendedandrestatedArticlesofIncorporationandBylaws. TheConstitutionofthePresbyterianChurch(U.S.A.),foundintheBookofOrder. Sections170(c)(2)(B),501(a)and501(c)(3)ofTitle26,U.S.InternalRevenueCode. TheNewMexicoNonprofitCorporationAct. TheNewMexicoUniformPrudentManagementofInstitutionalFundsAct. NewMexicoGrossReceiptstaxasitappliesto501(c)(3)Non‐Profits.
C. Statement of Purpose
FirstPresbyterianChurchofSantaFeisapartofChrist’suniversalchurchandofthePresbyterianChurch(U.S.A.)(hereinafter,“PC(USA)”).ItisafellowshipofbelieversofallageswhoprofessfaithinGod,theCreator;JesusChrist,theSaviorandLord;andtheHolySpirit,theSustainer.InresponsetoGod’sgrace,MembersandfriendsoftheChurchgathertogetherfortheserviceofGodassetforthinScripture,tobeacaring,inclusive,reconcilingcommunityinSantaFeandthroughoutGod’sworld.Tobethatcommunity,weproclaimgoodnewsthrough:
Worship. Sacraments. Education. Mission. Socialjusticeadvocacy. Pastoralcare.
FPCalsooperatesaChildDevelopmentCenter(CDC)asacommunityeducationaloutreachprogram.TheCDCisaninclusiveandsecularpreschoolforchildrenofage12months
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throughprekindergarten.Itisopentofamiliesofallfaithsandteachesglobalprinciplesofkindness,toleranceandcompassion.Inaddition,FPCengagesinothercharitable,benevolentandeducationalactivitiesinSantaFeandelsewhere.
D. History
TheFirstPresbyterianChurchofSantaFewasofficiallyorganizedintheCouncilChamberinthePalaceoftheGovernorsonJanuary6,1867.InMarchofthatyear,theruinsofanearlierBaptistChurchthathadfailedwerepurchasedalongwithtwoacresadjoiningthatproperty.Thechurchremainsinthesamelocationtoday,astheoldestcontinuingProtestantcongregationinNewMexicoandArizona.TheChurchispartofthePresbyterianChurch(U.S.A.),thePresbyterianSynodoftheSouthwest,andthePresbyteryofSantaFe.
E. Governing Council
Consistentwiththe2015‐2017BookofOrder,sectionG‐3.0201,theSessionisthegoverningcounciloftheChurchcongregation.FinancialinstructionstoPC(USA)churchesareinSectionG‐3.0113,whichinstructschurchestohaveanannualfinancialreview,andSectionG‐3.0205,whichinstructsSessiontoprepareandadoptabudget,authorizespecialofferingsandaccountfordisbursements,providefinancialinformationtothecongregation,electaTreasurer,andoverseefinancialprocedures.
F. Pastor and Staff
ThePastoristheHeadofStaffandreportstotheSession.AsHeadofStaff,heorshesupervisesallChurchstaff(allemployeesandcontractworkers).ThisPolicysetsforthcertainfinancialrolesandresponsibilitiesforstaffmembers,whichreflectdelegationsfromthePastor.ThesestaffrolesanddelegationsmaybechangedbythePastorwithoutSessionapproval.SignificantchangesshallbereportedtoSession.
G. Committees
CommitteesareestablishedbytheSession,whichdesignatestheirauthorityandresponsibilities(BookofOrderSectionG‐3.0109andFPCBylawsArticle7).ChairsofcommitteesatFPCarenominatedbythePastorandapprovedbytheSession.CommitteechairsandthePastorselectcommitteemembers(exceptfortheNominatingCommittee,membersofwhichmuchbeapprovedbytheCongregation).CommitteeChairsandmembersarewelcometoattendanySessionmeeting,andChairsareencouragedtoattendSessionmeetingswhenpertinentCommitteebusinessisbeforetheSession.ThisPolicysetsforthfinancialresponsibilitiesofcommitteesrelatingtoexpendituresfromtheannualbudgetandfromSpecialPurposeFunds.Insomesituationsacommittee’s
authoritymaybedelegatedtoastaffmember,withtheapprovalofthePastor.ThesedelegationstoastaffmembermaybechangedbythecommitteewithoutSessionapproval.AnynewresponsibilitiesforastaffmembermustbeapprovedbythePastorasHeadofStaff.
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II. Policy Scope and Background
A. Scope
ThisPolicyisintendedtocoverallChurchfinancialpoliciesandpractices,withtheexceptionofspecificfinancialpracticesrelatedtoemployeecompensationandbenefits,whicharesetforthintheFPCHumanResourcesManual.ThisPolicyisarrangedapproximatelyinthesamesequentialorderastheflowoffundsthroughtheChurch.Thus,itbeginswiththeChurch’sreceiptofrevenues,primarilyintheformofgifts;extendsthroughtheChurch’spreparationandexecutionofanannualbudgetanditsmanagementofcurrentfunds,investmentassets,andSpecialPurposeFunds;andconcludeswiththeChurch’saccountingandfinancialreportingpractices.
B. Background
TheChurchreceivesvirtuallyallitsrevenuesintheformofgifts(alsoreferredtoasdonations)fromMembersoftheChurchandothers.Suchgiftsaremostcommonlyreceivedintheformofregularpledgesandlooseplatecollections.However,theyalsoincludegiftsandbequestsfromwills,trustsandotherplannedgivinginstruments;specialpurposegifts;andspecialcollectionsandfundraisingcampaigns.Initsmanagement,accounting,andreportingofitsfinances,theChurchcomplieswith:
Applicableaccountingandreportingprinciples,includingtheGenerallyAcceptedAccountingPrinciples(GAAP)asprescribedfornonprofitorganizationsbytheFinancialAccountingStandardsBoard(FASB)1.
TheNewMexicoUniformPrudentManagementofInstitutionalFundsAct. GuidancefromtheSantaFePresbyteryandhighercouncilsofthePresbyterian
Church(USA).ResponsibilityfortheadministrationofthisPolicyresideswith:
TheCommitteesonFinance,Stewardship,Investments,andFinancialReview. OtherspecialpurposeCommittees. TheTreasurer. ThevariousChurchmanagersandvolunteerswhoareinvolvedinfinancial
management;assetforthinmoredetailinAppendixAandTables1‐4.
1TheChurchmaintainsitsbooksonamodifiedcashbasis,accruingincomeandexpenseoflargersumsthatwouldmostaffecttheevaluationofitsfinancialstatus.However,itusesthecashmethodforroutineongoingitems.Sufficientdetailisavailabletoconvertfinancialstatementstoafullaccrualmethodifneeded.
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III. Definitions
A. Gift Instrument
A“GiftInstrument”isadonoragreement,checkmemorandum,bequest,Churchsolicitation,oranyotherrecord,pursuanttowhichpropertyisdonatedto,transferredto,orheldbytheChurchexclusivelyforpurposesconsistentwiththemissionoftheChurch.AgiftinstrumentdetermineswhetherornotagiftisRestrictedorUnrestricted.
UnrestrictedGiftAn“UnrestrictedGift”isagiftgiventotheChurchwithoutanyrestrictionplacedonthepurposeortimeordurationoftheuseofthegift,otherthanthatitbeusedforpurposesconsistentwiththeChurch’smission.
RestrictedGiftA“RestrictedGift”isagiftthatadonorgivestotheChurch,eitherbywillorbequestafterpassing,orwhileliving(an“intervivos”gift),andwhichissubjecttoarestrictioninaGiftInstrumentontheuseofthegiftastopurposeorastodateordurationofusebeyondthecurrentyear.ItisimportanttonotethataRestrictedGiftmayresulteitherfromarestrictionimposedbyadonor,orfromarestrictionproposedbytheChurchinafundraisingsolicitationorotherGiftInstrument.
B. Funds
A“Fund”isanindependentgeneralledgeraccountthatisestablishedtotrackrevenuesandexpendituresofaparticularcategoryofprograms,projects,orpurposes.Theterm“funds”means,simplystated,“money”;andtheverb“tofund”generallymeans“topay”or“tofinance.”2
2Theterms“fund,”“funds,”and“Fund”areveryconfusingconceptsfornon‐accountants.Theconfusionarisesfromthemanymeaningsoftheseterms.First,theterm“fund”maybeusedasnoun,tomeanageneralledgeraccount;andtheterm“Fund”isusedheretomeanageneralledgeraccountthatisdedicatedtoaspecialpurpose.Butitmayalsobeusedtosimplymeanaparticularamountofmoneyorotherfinancialasset(asin“funds”).Thusitmaybesaidthata“fundbalance”istheamountof“funds”ina“Fund”atanygiventime—confusingtosaytheleast.
Thisisconfusingenough,butitgetsevenworse.Theterm“tofund”isalsousedasverb,meaningto“topayfor”orto“finance.”Anditisalsousedinotherspecialcontexts—asin“mutualfunds,”“reservefunds,”“sinkingfunds,”andotherspecialmeanings.
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1.FundAccounting
“FundAccounting”isanaccountingsystemprescribedbytheU.S.FinancialAccountingStandardsBoard(FASB)forusebynonprofitorganizations.UnderFASB,nonprofitsarerequiredtoreporttheirnetassets(assetslessliabilities)intheclassificationsofunrestricted,temporarilyrestricted,andpermanentlyrestricted.AssetsdesignatedforaspecificpurposebyactionoftheSessionareconsideredunrestrictedassets.
2.OperatingFunds
Asusedinthisdocument“OperatingFunds”(alsocalledcurrentfunds,orgeneraloperatingfunds)referstoFPCfundsthatareunrestrictedandavailableforexpenditureinthecurrentfiscalyear.Theyinclude,butarenotlimitedto:
Fundsderivedfromgeneralunrestrictedpledges. Looseplatecollections. Otherunrestrictedandunpledgedgifts. Earningsandotherinvestmentincomeearnedonunrestrictedinvestments. Unrestrictedbequeststhatareexpendablebythechurchonacurrentbasis. Fundsreceivedfromsourcesotherthangiftsordonations,suchasbuildingrentals.
OperatingFundsareavailableforexpendituretosupportgeneralChurchoperations,ministriesandmissionactivitieswithinthecurrentfiscalyear.However,byadoptionofanannualbudgettheChurchimposesalimitontheexpenditureofotherwiseavailableOperatingFundsinthecurrentyear.
3.GeneralFund
Theterm“GeneralFund”encompassesallOperatingFunds(definedabove),unrestrictedinvestments,andotherunrestrictednetassets.ThenetamountintheGeneralFundisshownontheFPCstatementoffinancialposition(balancesheet)as“unrestrictednetassets.”UnrestrictednetassetsincludeSessionDesignatedFundsbutnotDonorRestrictedFunds.AssetsaccountedforinUnrestricted,UndesignatedNetAssetsareavailableforanypurposepermittedbylaworbythegoverningdocumentsoftheChurch.
4.SpecialPurposeFunds
A“SpecialPurposeFund”isaFundestablishedbytheChurchtotrackrevenuesandexpendituresforaspecialproject,programorpurpose.TherearetwotypesofSpecialPurposeFunds–DonorRestrictedFundsandSessionDesignatedFunds.
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(a)RestrictedFundsA“RestrictedFund”(or“DonorRestrictedFund”)isaSpecialPurposeFundfundedbyoneormoreRestrictedGiftsthataresubjecttoacommonrestriction,andwhichcannotbeeffectivelyusedorexpendedwithinthecurrentyear.TherearetwotypesofRestrictedFunds:TemporarilyRestrictedFundsandPermanentlyRestrictedFunds.
(1)TemporarilyRestrictedFundA“TemporarilyRestrictedFund”isaRestrictedFundthatisrestrictedto:(a)aparticularpurpose;or(b)exhaustionoftheFundoveraspecifiedperiodextendingbeyondthecurrentyear,butnotextendinginperpetuity.Thelatter(b)istraditionallyreferredasa“TermEndowmentFund,”ora“LimitedTermEndowmentFund,”oranon‐perpetualEndowmentFund.(2)PermanentlyRestrictedFundA“PermanentlyRestrictedFund”isRestrictedFundthatisrequiredtobemaintainedinperpetuity,withonlytheannualincome(interest,dividends,capitalgains,andcapitalappreciation)beingavailableforusebytheChurcheachyear.TraditionalendowmentsarePermanentlyRestrictedFunds.
(b)SessionDesignatedFundsA“SessionDesignatedFund”3(orsimply“DesignatedFund”)isaSpecialPurposeFundestablishedbytheSessionforaparticularprojectorpurpose,andwhichisfundedwithunrestrictedfundsappropriatedbytheSessionfromtheGeneralFund.UnlikeRestrictedFunds,DesignatedFundsarenotfundedwithDonorRestrictedGifts,andthuscanbedivertedtootherpurposesbyactionoftheSessionatanytime.ThisisnottobeconfusedwithaSessioninitiativetoraisemoneyforaspecificpurpose,inwhichcasecontributionswouldbeDonorRestricted.(c)Pass‐ThroughAccountsA“Pass‐ThroughAccount”isanaccountusedforRestrictedGiftsthataredesignatedbyadonorasbeingintendedforaspecificthird‐partybeneficiary,andaredistributedpromptlytothethird‐partybeneficiary.WhileaPass‐ThroughAccountiscategorizedhereasaSpecialPurposeFund,becauseitisfundedwithDonorRestrictedGifts,itisinfacttreatedasaliabilityaccountandisnormallydisbursedaspromptlyaspossiblewithoutbeingrecordedasrevenue,unlesstheorganizationisarelatedorganization(typicallyPC(USA)),(asperFASB136).
3Someinstitutionsreversethemeaningsoftheterms“DesignatedFund”and“RestrictedFund”fromthemeaningsusedinthisPolicy.
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5.OtherTraditionalTypesofSpecialPurposeFunds
(a)EndowmentFundsAnEndowmentFundcreatedbygiftorbequestisatypeofRestrictedFund.AnEndowmentFundmayberestrictedfromcompleteexpenditureinperpetuity,inwhichcaseitisatraditionalEndowmentFundthattheFASBidentifiesasaPermanentlyRestrictedFund;oritmayberestrictedtoexpenditureoveraspecifiedtermofyears,inwhichcaseitisatypeofaTemporarilyRestrictedFundknownasaTermRestrictedFund.IntheabsenceofanywrittenguidanceinaGiftInstrument,agiftacceptedtoestablishanEndowmentFundwillbetreatedasaperpetualEndowmentFund.TraditionalperpetualEndowmentFundstypicallyallowearnedinterestordividendstobewithdrawnandusedfortheirintendedpurposes,withoutinvasionoftheprincipal.FixedTermEndowmentFundstypicallyallowwithdrawalofinterestanddividendandsomepartoftheprincipal.Overtime,withdrawalof“appreciation,”orunrealizedcapitalgainshasbeenmorecommonlyallowed,inadditiontointerest,dividends,andrealizedcapitalgains.ThisistheinterpretationadoptedinthisPolicy,unlessotherwisespecifiedbyadonor.Further,recentchangesinthelaw(UniformPrudentManagementofInstitutionalFundsAct,UPMIFA)havealsomadeiteasierforchurchestomakewithdrawalsfromEndowmentFundsthatare“underwater,”i.e.,wheretheirvaluehasdroppedbelowthevalueoftheoriginalgift(the“historicdollarvalue”).Inthepastsuchasituationwouldhavebeenoff‐limitstofurtherexpendituresuntilthevalueoftheFundhadrisentoitshistoricdollarvalue.AFundthatiscreatedbytheSessionbyappropriationofunrestrictedfinancialassets,andwhichisdesignatedasanEndowmentFund,isneverthelessaSessionDesignatedFund;anditmaybeappropriatedtootherpurposesatanytimebyactionoftheSession.AsofthedateofissuanceofthisPolicyin2016,FPChasnoPermanentlyRestrictedEndowmentFund.(b)MemorialFundsAMemorialFundiscreatedbygiftstotheChurchthataremadebyfriendsorfamilyinhonorandmemoryofadeceasedlovedone(aMemorialGift).AMemorialGiftthatisnotrestricted,otherthanbytheintentthatitberecognizedasaMemorialGift,isotherwisetreatedasanunrestrictedgift.SuchagiftisdepositedintheMemorialGiftsFund,aSessionDesignatedFund
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maintainedbytheChurchtohonorthedonorsaswellasthedeceased,andusedforappropriatepurposesdesignatedbytheSessionfromtimetotime.IfaMemorialGiftisfurtherrestrictedastopurposeorastotimeofexpenditure,itshallbetreatedasaRestrictedGift.(c)ReserveFundsAGeneralReserveFundisaSpecialPurposeFundintendedtocoverfuturecoststhataretypicallynotcoveredbytheannualbudgetasordinaryrecurringoperatingexpenses.OtherReserveFundsincludethosethatarededicatedtothemaintenanceandrepairofmajorfacilities,andareintendedtoaccumulatefundssufficienttobearthecostsoffuturerepairs,replacementsandnon‐routinemaintenanceofsuchfacilities.Thus,forexample,FPCmaintainsaBuildingReserveFundandanOrganReserveFund.ReserveFundsmaybeeitherDonorRestrictedorSessionDesignatedFunds.AReserveFundcreatedbyactionoftheSessionandfundedbyappropriationofunrestrictedOperatingFundsisaSessionDesignatedFund,whichmaybesubsequentlysupplemented,expended,orchangedinpurposebyactionoftheSession.
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IV. Acceptance and Management of Gifts and Donations
A. General
TheChurchsolicitsandacceptsgiftsforpurposesthatwillhelptheChurchadvanceandfulfillitsmission.Thesepoliciesandguidelinesgoverntheacceptance,use,andfinancialreportingofgiftsmadetotheChurch.TheyareintendedtoensurethattheChurchhasflexibilityinitsacceptanceandmanagementofgifts,whilealsoensuringthatprudentjudgmentanddonors’wishesareobservedtothemaximumextentpossible.Thispolicyisbasedonthefollowingprinciples:
• TheremustbeafairandproperbalancebetweentheinterestsofdonorsandthepurposesoftheChurch.
• Unrestrictedgiftsareencouraged. • Giftsthatarerestrictedastopurposemustbeconsistentwiththepurposesofthe
Churchandsufficientinamounttojustifytheircostandeffortofadministration.• Donorsareencouragedtodiscussgiftplanningwithprofessionaladvisors.• Acknowledgmentsofgiftswillbemadetodonorsunlesstheywishtoremain
anonymous.TheChurchencouragesgiftsofmoneyandmarketablesecurities,andwillconsideracceptinggiftsofotherpersonalorrealproperty,eitherasintervivosgiftsgivenduringone’slifetimeorgiventhroughplannedgivinginstrumentssuchaswills,trustsandcharitableannuities.TheChurchwillnotacceptagiftthatwould,intheChurch'ssolejudgment:(a)resultintheChurchviolatingtheConstitutionofthePresbyterianChurch(USA)orthegoverningcorporatedocumentsofFPC;(b)improperlyinuretothebenefitofanyindividualorwouldotherwisejeopardizethestatusoftheChurchasanInternalRevenueService§501(c)(3)not‐for‐profitorganization;(c)betooburdensomeorexpensivetoadministerinrelationtoitsvalue;(d)beforpurposesoutsidetheChurch'smission;or(e)belikelytoresultinanyotherconsequencedeemedunacceptabletotheChurch.TheChurchacceptsRestrictedGiftssolongastherestrictionsarelegal,ethical,andconsistentwiththemissionoftheChurch.DecisionsontheacceptabilityofagiftrestrictionaremadeontherecommendationoftheStewardshipCommitteeandbyactionoftheSession.TheSessionwillalsoconsidertherecommendationofotherstandingoradhoccommitteeswithregardtoparticularproposedgifts.ByacceptingaRestrictedGift,theChurchundertakestohonorthedonor'swishes,unlessreleasedormodifiedbythedonororhisorherauthorizedexecutor,trusteeorotherauthorizedrepresentative;orunlessauthorizedbyapplicableNewMexicolawgoverningtheexhaustion,modificationordissolutionofRestrictedFunds.RestrictedGiftsthat
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cannotbeutilizedentirelywithinthecurrentyearwillordinarilybemanagedbytheestablishmentofaRestrictedFundtotracktherevenuesandexpendituresassociatedwiththeGift.AllDonorRestrictedFundsshallbemanagedinaccordancewiththerestrictionsapplicabletothem.DeparturesfromsuchrestrictionsrequireapprovaloftheSession,actinginaccordancewiththerequirementsoftheUPMIFA,whichmayrequiretheChurchtoseekacourtorderorpermissionfromtheOfficeoftheAttorneyGeneralbeforeproceeding.RestrictedGiftsofferedandacceptedtosupplementanexistingDonorRestrictedFundshallbesubjecttothesamerestrictionsastheoriginalgift.AllgiftstotheChurcharemaintainedandidentifiedinChurchfinancialrecordsinamannerconsistentwiththerequirementsof:(1)GenerallyAcceptedAccountingPrinciplesapplicabletononprofitorganizations;and(2)theNewMexicoUniformPrudentManagementofInstitutionalFundsAct(UPMIFA).ThesepoliciesshallbebroughttotheattentionofanyprospectivedonorofaRestrictedGiftandtotheattentionofeachMemberoremployeeoftheChurchwhoisinvolvedinFPCfundraisingefforts.
B. Ethical Obligations Regarding Solicitation and Acceptance of Gifts
1.CodeofConduct
AllChurchrepresentativesinvolvedinfundraisingorothersolicitationoracceptanceofgifts,includingChurchMembers,officers,andstaff,shallconductthemselvesinaccordancewithacceptedprofessionalstandardsofaccuracy,truth,integrity,confidentiality,andgoodfaith.Churchrepresentativesshallexercisecautiontoavoidpressure,persuasion,orundueinfluenceonprospectivedonors,andshallencouragesuchdonorstoseekindependentprofessionaladvicewhenconsideringaplannedgiftoption.AllChurchpersonnelwhocontactprospectivedonorsorsolicitgiftsareeitherunpaidvolunteersorareemployeeswhoarepaidafixedsalaryorwage.Suchpersonnelshallnotreceiveanycommissionorothercontingentcompensationthatwouldcreatepersonalbeneficialinterestinanygiftagreement.TheChurchwillurgeallprospectivedonors,asappropriatetothegiftinconsideration,toseektheadviceoftheirownattorneysandfinancialandtaxadvisorsinreviewingstateandfederalincometaxconsequencesoftheirgift,thetermsofanytrustorannuityagreement,andtheadvisabilityofthegiftinlightofthedonor'soverallestateplanandfinancialcircumstances.
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2.ConflictofInterest
TheChurchrecognizesitsresponsibilitytobecognizantoftheinterestsandconcernsofthedonor.Ingeneral,noemployee,Memberorothervolunteershallhaveaprivatefinancialinterest,directorindirect,inanytransactionorarrangementwiththeChurch,andshallavoideventheappearanceofanyactofself‐dealing.FPCmaintainsaseparateConflictofInterestPolicythataddressesconflictsinbusinessandothercontractualtransactions(seeAppendixB).
3.ConfidentialInformation
TheChurchrecognizesthatadonororprospectivedonorhasplacedtrustintheChurchconcerningconfidentiality.Therefore,alldonorinformation,correspondenceandgoverninginstrumentsshallbetreatedinaconfidentialmannerandmadeaccessibleonlytostafforMembersoftheChurchhavinganeedtoknowsuchinformation,excepttotheextentthatsuchconfidentialityisspecificallywaivedbyadonor.
4.UseofMembershipandDonorLists
ItistheChurch'spolicynottosellorotherwisetransferitsdonorlistsorinformationregardingindividualgiftstoorganizationsorindividualsforpurposesnotessentialtoChurchoperations.
5.ProtectionofDonors’Interests
Noprogram,agreement,trust,contract,orcommitmentshallbeknowinglyurgeduponanyprospectivedonorthatwouldbenefittheChurchattheexpenseofthedonor'sinterestandwelfare.NoagreementshallbemadebetweentheChurchandanyagency,person,company,ororganizationonanymatterrelatedtoinvestments,management,orotherwisethatknowinglyjeopardizesadonor'sinterest.
C. Approval and Management of Gifts
1.GiftsAcceptedWithoutReview
(a)MonetaryGifts
Unrestrictedmonetarygiftsarewelcomefromanydonor,intheformofcash,check,creditordebitcardpayment,orelectronicfundtransfer.Donorswishingtomakeagiftbycreditcard,debitcardorACHtransferfromtheirbankaccountmaydosoonlinethroughFPC’scurrent(2016)paymentserviceprovider,VancoPaymentSolutions,whichisaregisteredISO(IndependentSalesOrganization)ofWellsFargoBank,N.A.,WalnutCreek,CA.InstructionsareavailableontheFPCwebsite
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(http://www.fpcsantafe.org),underthelink“Donations”atthebottomoftheFPChomepage.
Note:Acheckwithastatementinthememorandumline,oraccompaniedbyanote,maybeaRestrictedGift—seesubsection2.belowregardingacceptanceofsuchgifts.
(b)Pledges
TheChurchprefersthatpledgesbefulfilledasunrestrictedmonetarygifts.Pledgesmaybefulfilledwithcontributionsofmarket‐listedsecurities.
(c)UnrestrictedPlannedGifts
TheChurchacceptsunrestrictedgiftsarisingfromcharitableremaindertrusts,charitableleadtrustsandsimilararrangementswheretheChurchisnamedasanincomebeneficiary.
(d)LifeInsuranceProceedsandOtherDeathBenefits
TheChurchacceptsbeingnamedasafullorpartialbeneficiaryoflifeinsurancepoliciesandretirementplans.
(e)BequestsandDevises
TheChurchwelcomesunrestrictedgiftsofmoney,market‐listedsecuritiesorotherpropertyarisingfromwills,trusts,andotherformsofplannedgiving.However,suchgiftsmayrequirereviewwheretheywouldrequireongoingactiveparticipationormanagementbytheChurchasatrusteeorinsomeotherrole(seebelow).
(f)Stocks,MutualFundsandOtherSecurities
TheChurchacceptsgiftsofmarket‐listedsecuritiesintheformofcommonstocks,bonds,mutualfundsandothermarketablesecurities.SecuritiesmaybetransferredelectronicallytotheChurch’sbrokerageaccountordeliveredphysicallywiththetransferor'sendorsementorsignedstockpower(withappropriatesignatureguarantees)attached.MarketablesecuritieswillusuallybesoldpromptlyuponreceiptunlessotherwiseapprovedbytheSessionuponconsultationwiththeInvestmentCommitteeandtheTreasurer.Insomecasesthedispositionofmarketablesecuritiesmayberestrictedbyapplicablesecuritieslaws,contractualagreements,orthetermsofaproposedgift;insuchinstancestheSessionshalldecidewhethertoacceptsuchsecurities.AnysecuritythatisnotpubliclytradedwillbeacceptedonlyiftheSessiondeterminesthereisareadilyavailablemarketforitsdispositionandthesecuritydoesnotpresentanongoingcostorliabilitytotheChurch.
(g)SubstantialUnrestrictedGifts
Unrestrictedgiftsorbequestsof$25,000ormorethatarenotgivenaspartofanannualpledgearealwayswelcomeandshallbereportedtotheSessionforitsdeterminationasto
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theiruse.SuchgiftsmaybeinvestedintheSessionDesignatedGeneralReserveFundortheymaybeappropriatedtosupportcurrentoperations.
(h)GiftstoExistingRestrictedFunds
MonetarygiftsintendedforanexistingDonorRestrictedFundwillbeacceptedsolongaspermittedbythetermsoftheFundIdentificationDocument.
(i)MinororRoutineIn‐kindGifts
ChurchcommitteesandmanagersmayacceptorrejectminororroutinedonationsofgoodsandservicesofferedtosupportChurchoperations,suchaskitchenorofficesupplies,flowers,fooditems,seasonaldecorations,etc.
2.GiftsSubjecttoReview
(a)MonetaryGiftsSubjecttoDonorImposedRestrictions
Somemonetarygiftsaregivenwith“stringsattached,”whichcanbeassimpleasanoteinthememorandumlineofacheckmadeouttoFPC,andwhichmakethecheckaGiftInstrument.SuchgiftsareDonorRestrictedGifts.Dependingontheirsizeandpurpose,theysometimesrequireevaluationbytheTreasurer,theStewardshipCommittee,and/ortheSession.Thefollowingguidanceregardingcoversthemostcommonlyencounteredsituationsofthistype:
GiftsIntendedforExistingSpecialPurposeFunds.Giftsintendedtoaugmentanexisting
DonorRestrictedFundwillnormallybeacceptedunlesstheFundhasbeenclosedtoadditionalgifts.GiftsintendedtoaugmentaSessionDesignatedFundwillnormallybeaccepted,withtheTreasurerbeingresponsibleforseparatelyaccountingforRestrictedandSessionDesignatedassetsintheFund.
• GiftsIntendedtoAugmentBudgetLineItems.TheChurchgenerallyacceptsmonetary
giftsofferedtoaugmentparticularcategoriesofbudgetedlineitems.However,theSessionisresponsiblefordeterminingtheannualbudgeteachyear.Therefore,giftsintendedtoaugmentbudgetlineitemsmaybeplacedinanappropriateDonorRestrictedFundandaresubjecttospendingplansforsuchFund.
Insomecases,suchagiftmayrequirereviewbytheStewardshipCommitteeandtheSession.Forexample,giftsintendedtosupplementparticularstaffsalaries,ortohireadditionalstaff,willbegivenparticularlycarefulreviewbecauseofthepotentialforinterferingwithstaffrelations,orcreatingtheexpectationofalongtermsalarycommitmentthatcannotbeguaranteed.Insomecases,theStewardshipCommitteemaywishtoconferwiththedonortodiscussalternativearrangements.
GiftsIntendedforThird‐partyCharities.Giftsofferedforthebenefitofarecognizedthird‐partycharitywillbeacceptedaslongasthecharityisendorsedbyPC(USA)orFPC.TheMissionandSocialJusticeCommitteeshallbeinformedofsuchgifts.Such
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giftsaretreatedasaliabilityandpaymentistransmittedtotheintendedrecipientorganizationaspromptlyaspossible.(RefertoTable5,seeTablessectionatendofdocument.)
GiftsIntendedforPrivateOrganizationsorIndividuals.Checksintendedforthebenefit
ofspecificindividualsorprivateorganizationswillnormallynotbeaccepted.
(b)RareorUnusualCategoriesofGifts
ThefollowingcategoriesofgiftsrequireapprovaloftheSessiononacase‐by‐casebasis: Collectionsoftangibleitems,suchasfineartworks,historicalorcultural
artifacts,jewelry,rarebooksordocuments,antiques,etc. Oil,gasormineralinterests. Intellectualpropertyrights. Giftsofferedontheconditionofreceivingnamingrightstofacilities,furnishings,
orSpecialPurposeFunds. Bargainsalesarrangements.
(c)GiftsofRealEstate
GiftsofrealestaterequirepriorapprovalbytheSession.Ingeneral,onlyrealestatewithavalueestimatedbythedonororotherstobe$100,000orgreaterwillbeconsidered.Nogiftofrealestateshallbeacceptedwithout:
Acurrentappraisalconductedbyaqualifiedappraiser.Thisappraisalshallbetheresponsibilityofthedonor.TheChurchmayalsochoosetoconductanindependentappraisal.
Titlesearchandtitlepolicy. Marketabilitycheck,completedundertheumbrellaofastandardappraisal. Appropriateenvironmentalimpactstudyofthepropertytoascertainifitis
subjecttoenvironmentalrestrictions,sanctions,toxicwastes,orotherwiseencumberedsoastocausepossibleliabilitiesfortheChurch,unlesssuchstudyiswaivedbytheSession.
Conveyancebyspecialwarrantydeedortrustee'sdeed(preferredtoquitclaimdeed).
Donorcoverageofallcostsincurredbytheenvironmentalimpactstudyandprocuringandpayingforthetitlesearchandfullappraisal,unlesswaivedbytheSession.
Specialattentionbeinggivenrealestateencumberedbyamortgage. Theunderstandingthatitwillbeheldinperpetuityorsubjecttorightsof
reversionorotherconditions.
(d)PlannedGiftsRequiringSessionApproval
PlannedgiftsorgiftagreementsrequiringwrittenFPCconsentoractivemanagementparticipationrequireapprovalbytheSession.SuchgiftsoragreementsincludeanyagreementwheretheChurchconsentstoserveasatrusteeorco‐trusteeofatrust,orasan
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executororadministratorofanestate.Wheresuchanagreementisapproved,theTreasurershallserveastheresponsibleofficertorepresenttheChurchasatrustee.
(e)UnacceptableGifts.
CertaingiftsmayplaceanundueriskupontheChurchandshallbeordinarilydeclined.Theseinclude:
Interestsinsoleproprietorshipsorpartnerships. InterestsinpropertythatmayleadtoprohibitedtransactionsundertheIRS
Code.
D. Memorial and Endowment Funds
1.MemorialFunds
TheChurchmaintainsageneralMemorialGiftsFundforunrestricteddonationsmadeinmemoryandhonoroflovedones.ThisFundismonitoredbytheClerkofSessionandisusedbytheSessionfromtimetotime,generallyforspecialornon‐recurringpurposesoutsidethescopeofthenormaloperatingbudget.AlldonorstothisFundwillbecreditedwithandacknowledgedprivatelyfortheirdonationsfortaxpurposes.Tworecordsofsuchdonationsaremaintained—aprivaterecordandtheChurchMemorialBook.DonorsmaychoosetohavetheirnamesreleasedtotheCongregationiftheywish,andthusrecordedintheChurchMemorialBook,whichissharedwiththefamilyandisavailabletotheCongregation.Alternatively,theymaychoosetoremainanonymousandhavetheirnamesrecordedonlyontheprivaterecord.
2.EndowmentFunds
AsofthedateofthisPolicy(2016),theChurchdoesnothaveatraditionalEndowmentFund(aPermanentlyRestrictedFund).However,theChurchwillconsiderofferstocreatenewSpecialPurposeFundsinthenatureofEndowmentFunds,includingoffersthatarerestrictedtoparticularpurposesortermrestrictions,inaccordancewiththegiftacceptancepoliciessetforthabove.
3.OversightResponsibility
TheStewardshipCommitteeischargedwithcommunicatingprivatelywithexistingandprospectivedonorsregardingspecialgiftsthatcouldsupplementexistingSpecialPurposeFunds,orwhichcouldresultinnewSpecialPurposeFunds,includingMemorialandEndowmentFunds;andshallmakerecommendationstotheSessionastowhetherRestrictedGiftsregardingtheacceptanceofsuchgifts.TheStewardshipCommitteeisalsochargedwithcounselingMembersandfriendsoftheChurchregardingtheestablishmentof
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plannedgivingarrangementsinthenatureofbequests,trustsandotherplannedgivingarrangements.TheStewardshipandInvestmentCommitteesandtheTreasurershallconferontheappropriatedepositorinvestmentofassetsmaintainedinsuchFunds.IfrequiredbySessionorthedonor,interest,dividends,orotherearningsfromsuchgiftsshallremainandbereinvestedintherespectiveFund.
E. Special Offerings, Fundraising Campaigns and Grants
Specialofferings,collections,orfundraisingcampaigns(“solicitations”)onbehalfoftheChurchrequireapprovaloftheSession,actingonrecommendationoftheStewardshipCommittee.SpecialsolicitationsincludeanysolicitationconductedonChurchpremisesorinthecourseofChurchservicesorevents,orusingChurchpersonnel,facilities,publications,ormailinglists;exceptinghoweverregularChurchstewardshippledgecampaignsorsolicitationssponsoredtheSantaFePresbyteryorhigherordercouncilsofthePC(USA).AproposalforaspecialsolicitationshallbesubmittedtotheStewardshipCommitteeandtheSession,withanexplanationofthepurposeofthesolicitationanddetailsregardingtheproposedmanagementofthesolicitationanditsproceeds.Suchdetailsshouldinclude:
Whetherthesolicitationisproposedasaone‐time‐onlysolicitation,orwhetherauthoritytoconductcontinuingsolicitationsissought.
Whethersubsequentcontributionswillbeacceptedaftertheinitialsolicitationhasbeencompleted.
Identificationofproposedcharitablebeneficiaries,ifany. Whetheritsproceedswillrequiremanagementasarestrictedfund;and,ifso,
additionalidentifyingdetails(e.g.,duration,carryoverofannualearnings,endowmentormemorialfundstatus,etc.).
Identificationofthecommitteeorchurchadministrativedepartmentproposedtohaveresponsibilityforthesolicitationandspendingauthorityoveritsproceeds.
AnyapprovedspecialsolicitationshalladviseprospectivedonorsthatcontributionsshallbepayabletotheFirstPresbyterianChurchofSantaFeandshouldbeearmarkedasbeingresponsivetothespecialsolicitation.Contributionsearmarkedforunknownorunapprovedpurposesorsolicitationswillbereturnedtothedonor.Ifformorethananominalamount,thedonorwillfirstbecontactedtoseekclarificationofhisorherintent.AcommitteeormanagerresponsibleforanapprovedspecialcollectionshallreporttheproceedstotheSessionannuallyforinclusionintheannualreporttothecongregation.
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StaffandMembersofFPCmayproposetotheSessionthatagrantproposalbesubmittedtotheCity,State,Presbytery,orotherfoundationorprospectivedonor.TheSessionmustbeprovidedwithacopyoftheproposal,includingabudget,whichhasbeenreviewedbytheFPCTreasurer,andSessionmustapprovethegrantproposalbeforeitissubmitted.Ifanawardletterisreceivedandrequiresasignature,HeadofStafforClerkmustreviewthegrantconditions,signtheawardletter,andsharetheawardletterwiththeSessionatitsnextmeeting.
F. Miscellaneous Provisions
1.InterpretationofGiftAcceptancePolicy
TheStewardshipCommitteemaybeassistedintheinterpretationandimplementationofthisPolicybytheTreasurerand/ortheFinanceCommittee.OthersmayalsobeconsultedatthediscretionoftheStewardshipCommittee.TheSessionshallspecificallyapprovegiftagreementsandtheacceptanceofgiftsthatdeviatefromthesepolicies.
2.ValuationofGifts
TheChurchwillrecordagiftatitsvaluationonthedatethegiftisreceived.
3.ResponsibilityforIRSFilingsuponSaleofGift
TheTreasurerisresponsibleforfilingIRSForm8282uponthesaleordispositionofanyassetsoldwithintwoyearsofreceiptbytheChurchwhenthecharitabledeductionvalueoftheitemismorethan$5,000(seeIRSPublication526).TheChurchmustfilethisformwithin125daysofthedateofsaleordispositionoftheasset.
4.TaxAcknowledgements
Allattributable(i.e.,non‐anonymous)giftsmadetotheChurchwillbeacknowledgedtothedonorinaccordancewithIRSPublication1828orotherapplicableIRSguidance.AcknowledgmenttotheCongregationofadonor’sgifttotheChurchshallonlybemadewiththeconsentofthedonor.
5.PledgeCredit
DonorRestrictedGiftsfromMembersorotherswillbeacknowledgedtothedonorfortaxpurposes.However,suchdonationsarenotcreditedtowardpledges,andstatementsprovidedtodonorsshallclearlyreflectthispolicy.
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6.ReleaseorModificationofRestrictedFunds
ARestrictedFundmaybecomesodepletedastomakeitscontinuedmanagementimpractical,oritspurposemaybecomeobsoleteornolongerconsistentwiththemissionoftheChurch.InsucheventtheSessionmayreleasetheFundandtransferanyremainingassetstotheOperatingFund,uponcompliancewiththerigorousproceduralrequirementsoftheNMUniformPrudentManagementofInstitutionalFundsAct.
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V. Financial Assets Management
A. Purpose and Scope
AssetsoftheChurcharereportedandaccountedforinthefollowingthreebroadcategories:
Cashandcashequivalents. Investments. Propertyandequipment.
ThePolicyinthissectionisapplicabletothefirsttwocategoriesabove.ThisPolicyestablishesproceduresandfinancialcontrolsnecessarytoprudentlymanagethefinancialassetsoftheChurch,andtakesintoconsiderationsociallyresponsibleinvestingguidelinesestablishedbyPC(USA).
B. Management of Cash and Cash Equivalents
TheCashandCashEquivalents(C&CE)accountincludespettycash,checkingandsavingsaccounts,moneymarketaccounts,andcertificatesofdeposit(CDs)havingmaturitiesofnomorethanoneyear.TheC&CEaccountisintendedtocollectivelycontainfundsthatarenecessaryandsufficienttomeetshort‐termoperatingexpensesandSpecialPurposeFundactivity.Unrestrictedrevenuesarenormallydepositedin,andallexpensesarepaidfrom,thecheckingaccount,whichismaintainedatalevelestimatedtobesufficienttomeetfinancialobligationsastheyareincurred.Thesavingsaccountisintendedtocoveroperationalcontingenciesandismaintainedwithabalanceestimatedtobesufficienttomeetanyexpensesnotcoveredbythecheckingaccount,asdeterminedbytheTreasurer.Thesavingsaccountislinkedtothecheckingaccounttocoverinadvertentoverdrafts.Cashthatisbeyondwhatisneededinthecheckingandsavingsaccountsismaintainedinmoneymarketaccountsand/orshort‐termCDs,usingaladderedapproach,andisdepositedwithabankthatchargesnopenaltyforearlywithdrawal,ifavailable.Fundsinexcessof6monthsofoperatingexpensesandplannedFundexpendituresshouldbeinvestedinaccordancewiththeinvestmentpoliciessetforthbelow.Pettycashofapproximately$100ismaintainedforsmalland/orunexpectedcashrequirements.However,nocashreimbursementsaremadeforitemspurchasedforthechurch.
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ResponsibilityformanagementofC&CEresideswiththeTreasurerinconsultationwiththeFinanceCommittee.Sessionapprovalisrequiredonlywherematerialchangesarerecommended.Day‐to‐daydutiesconcerningC&CEmaybedelegatedtoabusinessmanagerorotherdelegee.
C. Management of Investments
Investmentsarefinancialassetsthathaveanexpectedlifeofmorethanoneyearandwhicharenotanticipatedtobeliquidatedinthecurrentyear.FinancialassetsoftheChurchthatarenotnecessarytomeetcurrentobligationsareinvestedandarerecordedinaGeneralInvestmentAccount,theBuildingMaintenanceAccount,orotherinvestmentaccountsapprovedbytheSession.ThesearecollectivelyreferredtoastheChurch’sinvestmentportfolio,comprisedofRestrictedandUnrestrictedfunds.
D. Objectives
TheprimaryobjectivesinmanagementoftheChurch’sinvestmentsarethefollowing:
Liquidity:Toensuretheabilitytomeetallexpectedandunexpectedcashflowneeds,investmentsshallordinarilybemadeinsecuritiesthatcanbesoldreadilyandefficiently.
PreservationofCapital:TheChurchseekstominimizethepossibilityoflossofprincipalovertime,bothabsoluteandnetofinflation,recognizingtheinherentrisksthatmarketsinsecuritiespresent.Valuationswillvaryupanddown,bothintheshortandlongterm.Emphasisisplacedontherelativestabilityofaninvestmentaswellasacompetitiverateofreturn.
Growth:GrowthofbothprincipalandincomeissoughtsothattheChurchcanmeetitsobligationsandgoals,bothcurrentandinthefuture.Suchgrowthissoughtwithinvestmentsthatareconsistentwithamoderatetoleranceforrisk,asinfluencedbythelongtimehorizonfortheexpecteduseofsuchinvestments.
E. Strategy
Inordertomeetitsneeds,theChurch’sinvestmentstrategyistoemphasizetotalreturn.Totalreturnistheaggregatereturnfrominterest,dividendsandcapitalappreciation.Totalreturncanresultinagainoralossforanyparticulartimeperiod.Investmentsshallbediversifiedinordertominimizetheriskoflossfromanyparticularinvestmentundulyaffectingtheperformanceoftheinvestmentportfolio.
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UnlessotherwiseallocatedbyactionoftheSession,investmentreturnsintheformofinterest,dividends,andanycapitalgainsorcapitalappreciation,areautomaticallyreinvestedwithintherespectiveinvestmentvehiclethatgeneratedthereturn.WiththeapprovaloftheSession,investmentreturnsearnedduringayearmaybeallocatedbetweenreinvestmentinthesameorsimilarinvestments,andtransfertoC&CEtosupportcurrentoperations.Interestfromindividualbondsisanexceptiontothis,sincereinvestmentisnotanoptionforbonds,andshallbereinvestedintheinvestmentportfolioorbedistributedtofundoperations.
F. Investment Guidelines
Acceptableinvestmentsincludefixedincome(debt)securitiessuchascertificatesofdeposit(CDs)withmaturitiesofoneyearorlonger,corporatebondsandUSTreasurybills,notes,bondsandTreasuryInflation‐ProtectedSecurities(TIPS);equities(stocks);andmutualorexchangetradedfunds(ETFs)thatinvestinsuchsecurities.Individualsecurities,otherthanCDsandTreasuries,arediscouraged.AnypurchaseofaCDistobewithinthelimitsofFDICinsurance.IndividualbondsshallberatedatleastAA‐byStandard&PoorsorAa‐byMoody’s.Collective,diversifiedinvestmentssuchasmutualfundsandETFsarefavored.Suchfundtitlesasstrategic,multi‐asset,multi‐sector,allocationandassetallocation,reducedormanagedvolatilitymaybeconsideredinadditiontothemorefamiliartitlessuchasgrowth,growthandincome,value,balanced,income,totalreturn,andindex.Abroadmixofchoicesshouldleadtogreaterdiversificationandmoreeffectiveriskmanagement,importantfortheChurchwithitsmoderaterisktolerance.Directinvestmentsinthefollowingareprohibited:commodities,privateplacements,options,limitedpartnerships,derivatives,hedgefunds,managedfuturesandrealestate.
G. Acceptable Ranges of Investment Categories
GiventheChurch’sprimaryobjectivesofliquidity,preservationofcapital,andgrowth,allconsistentwithamoderatetoleranceforrisk,thefollowingaretheappropriaterangestoutilizeinthemanagementoftheinvestmentportfolio.
Equities(Stocks)40to65percentofthetotalinvestmentportfolio
FixedIncome(Bonds)
35to60percentofthetotalinvestmentportfolio.
Moneymarketfunds,90‐dayTreasurybills,andevencashmaybesubstitutedforanyorallofwhatnormallyisinvestedinequitiesand/orfixedincome.Examplesofwhencashequivalentsmightbeusedinthismannerareextrememarketvolatility,apparentfinancialsystemrisk,andsimplywhenmoniesbecomeavailableinbetweenSessionmeetings.
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Intheeventofaperceivedfinancialcrisis,theChairoftheInvestmentCommitteeandtheTreasurer,actingjointly,cantakewhateveractiontheydeemappropriatetoprotecttheportfoliovalue.IntheabsenceoftheTreasurerand/ortheChairoftheInvestmentCommittee,anytwooftheauthorizedpersons(President,VicePresident,Treasurer,andChairoftheInvestmentCommittee)canjointlytakesuchaction.AnyactionshallbereportedtotheSessioninatimelymanner.Inordertomanagetheportfolioovertimewithinthebroadrangesidentifiedabove,theInvestmentCommitteeshallrecommendtoSessionanarrowerrangeofequitiesandfixedincome(andmayrecommendaspecifictargetwithinsuchnarrowerrange).MoredetailedguidancefortheInvestmentCommitteeissetforthinAppendixD.
H. Implementation—Investment Committee
SignificantdecisionsregardinginvestmentsshallbemadebytheSession,actingonrecommendationsoftheInvestmentCommittee.TheInvestmentCommitteeshallmeetsemi‐annuallyormoreoftenasmaybenecessarytoreviewinvestmentresultsandmarketconditions.Evaluationoftheneedforrebalancingtheequitiesvs.fixedincomeproportionsshallbeanothersemi‐annualtask.Unlessthecostofbringingtheportfoliobacktothedesiredratioisprohibitive,itisexpectedthattheCommitteewilltakeactionwhentheratiobecomes3‐5%offtarget.Meetingbye‐mailorteleconferencingmaybeheldasnecessary,providedminutesarekeptandvotesareunanimous.TheCommitteeshallreportregularlytotheSessionandshallprepareanannualreporttotheSessionandthecongregationforinclusionintheChurch’sAnnualReport,showingdepositsduringthereportingyear,disbursements,andinvestmentresults.InaccordancewithUPMIFA,theCommitteeshallmanagetheChurch’sinvestmentportfolioingoodfaithandwiththecareanordinarilyprudentpersoninalikepositionwouldexercise.Investmentcostsshallbeappropriateandreasonableforthesizeoftheinvestmentassets,thepurposesoftheChurch,andtheskillsavailabletotheChurch.Inadditiontotheguidancesetforthabovewithregardtotypesofinvestmentsandrelativeallocationsofinvestmentassets,investmentrecommendationsoftheInvestmentCommitteeshalltakeintoaccountthefollowing:
Generaleconomicconditions. Possibleeffectsofinflationordeflation. Expectedtaxconsequences,ifany. Therolethatanyparticularinvestmentoractionplaysintheoverallinvestment
portfolio. Sociallyresponsiblefactors,asdefinedbyPC(USA).
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OtherresourcesoftheChurch. TheneedsoftheChurchtotakedistributionsaswellastopreservecapital.
AnydecisionregardingaspecificinvestmentshallbemadewithinthecontextoftheportfolioasawholeandaspartoftheChurch’soverallstrategy,takentogetherwithappropriateriskandreturnobjectives.
I. Portfolio Selection, Review, and Changes
Portfoliocomponentswillnormallybeselectedexpectingtobeheldthreetofiveyears,orevenlonger.However,foranynumberofreasonsovertimechangeswillbecomewarranted.Otherthanintimesofperceivedfinancialcrisis,changeswillberecommendedtotheSessiononlyfollowingappropriateresearchandanInvestmentCommitteemeeting.Changesaredefinedasreplacing,adding,oreliminatinganypartoftheInvestmentPortfolio.EverythreeyearstheCommitteewillconductamorethoroughreviewofallportfoliocomponents.AtthattimealternativeswillbeconsideredforevencomponentswithwhichtheCommitteehasbeenwellsatisfied.Duringthesemorethoroughassessments,and,inkeepingwiththePresbyterianChurch(U.S.A.)commitmentto"sociallyresponsibleinvesting,"theCommitteewillconsideranewinclusionoftheNewCovenantFunds,iftheyarenotalreadypartoftheportfolio.TheNewCovenantFundsareprofessionallymanagedmutualfundsdesignedtoimplementsociallyresponsibleinvestingasdeterminedbythePC(USA)MissionResponsibilityThroughInvestmentCommittee.
J. Determining Distributions from the Investment Portfolio
Distributionsfromtheunrestrictedportionoftheinvestmentportfolioaretobedeterminedduringtheannualbudgetpreparationprocess,asrecommendedbytheInvestmentCommitteeandapprovedbytheSession.Thedistributionamount,includingtheincomeportionofthedistribution,shouldnotexceed4%ofarollingfour‐yearaverageofsemi‐annualinvestmentportfoliovaluesendingwiththeJune30value,unlessadifferentpercentageisauthorizedbytheSession.
K. Effect of Gift Restrictions
FinancialassetsgiventoandacceptedbytheChurchwithspecificinvestmentrestrictionsshallbemanagedsoastoobservetheintentandpurposeofthedonor(s)tothemaximumextentpossible,consistentwithUPMIFA.Financialassetssubjecttoinvestmentrestrictionsmaybecommingledwithotherinvestments,providedthattheintentandpurposeofthedonor(s)areobserved,by:(1)accountingforsuchassetsasaRestrictedGiftFund;and(2)monitoringandaccountingfortheChurch’sinvestmentportfoliobytheTreasurerandtheInvestmentCommitteeinordertoensurethatsuchassetsremainavailablefortheirintendedpurpose,
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notwithstandingoccasionalpartialortotalliquidationsofinvestmentassetstomeetoperationalneeds.IfsuchassetscannotbecommingledwithotherinvestmentswithoutplacingatrisktheabilityoftheChurchtoobservetheintentandpurposeofthedonor(s),theyshallbeseparatelyinvestedandaccountedfor.
L. Delegation of Management and Investment Functions
SubjecttotheapprovaloftheSession,theInvestmentCommitteemaydelegatetoanexternalagent(financialadvisor,broker,representative,etc.)themanagementandinvestmentofspecificfinancialassetsavailableforinvestment.Inenteringintoanysuchdelegation,theSessionandtheInvestmentCommitteeshallactingoodfaith,withthecarethatanordinarilyprudentpersoninalikepositionwouldexerciseundersimilarcircumstances,in:
Selectinganagent. Establishingthescopeandtermsofthedelegation,consistentwiththepurposesof
theChurch,therequirementsoftheNMUPMIFA,andthetermsofanyapplicableGiftInstrument.
Reviewingtheagent’sactionssemi‐annuallyinordertomonitortheagent’sperformanceandcompliancewiththescopeandtermsofthedelegation.
AnyagentappointedbytheChurchshallberequiredtosubmittothejurisdictionofthecourtsofNewMexicoinanyproceedingsarisingfromorrelatedtothedelegationortheperformanceofthedelegatedfunction.
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VI. Non-Contribution Revenue
A. Purpose and Scope
Thissectionstatesthepoliciesregardingincomefromnon‐contributionsources,suchasuserfees,rents,andCDCtuition.TheBookofOrderinChapter4,G‐4.02confirmsthat“thepropertyofthePresbyterianChurch(U.S.A.)...andofitscongregationsisatoolfortheaccomplishmentofthemissionofJesusChristintheworld….Acongregationshallnotleaseitsrealpropertyusedforpurposesofworship,orleaseformorethanfiveyearsanyofitsotherrealproperty,withoutwrittenpermissionofthepresbyterytransmittedthroughthesessionofthecongregation.”FPChaslongopenedthedoorsoftheChurchtocommunitygroupseitherfreeorchargeoratanominalfeeinpursuitofusingthefacilityasMission.Asthegoverningbody,theSessionisultimatelyresponsibleforsetting/approvinguserfees,rents,CDCtuitionandanyothersuchnon‐contributionfeesorschedules.
B. User Fees
TheFPCFacilitiesUseManualincludesascheduleoffees.Thescheduleandpermittedusesshallbereviewedandupdatedeverythreeyears.TheFacilitiesCommitteeshallreportanyupdatestoSessioninatimelymanner.
C. Rents
TheFacilitiesCommittee,FacilitiesManager,andOfficeManagerhavetheoverallresponsibilityfornegotiatingleasesoruseagreementsofthedesignatedspacesinthebuildingforpermitteduse(i.e.,officeorstorage)foraperiodnottoexceedoneyear,consistentwithguidancesetforthintheFacilitiesUseManualandSectionXII(ContractsandOtherAgreements)ofthisPolicy.MonthlyrentsshallbecompetitiveinthemarketinSantaFeforsimilarspaceinordertomaximizetherevenuefortheChurch.Amarketrentalanalysisshallbeconductedatleasteverythreeyearsandrentsadjustedappropriately.TheFacilitiesCommitteeshalldraftaproposaltoSessionforanychangeinrentalfees.
D. CDC Tuition
TheDirectorofTheChildDevelopmentCenter(CDC),inconsultationwiththeCDCAdvisoryCommittee,shallconductacompetitivefeesanalysisannuallyaspartofthebudgetprocessandmakerecommendationsregardingtheadjustmentoftuition.TheDirectorshallfirstgoovertheanalysisandfeerecommendationswiththeFinanceCommitteeandtheTreasurerandshallthenseekSessionapprovalforthefeeadjustments.
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AfterSessionapprovesthenewfees,theDirectorshallinformparentspriortothestartofthenewschoolyear.
E. Other Non-Contribution Revenue
Othertypesofnon‐contributionrevenueincludeproceedsfromsaleofitemssuchaspromotionalitems(T‐shirts,mugs),soupsalesbyDeacons,coffeeandoliveoilfairtradeitems,annualdirectories/photos,andChristmascards.AllproposedsalesshallbeapprovedbySession.AdulteducationmaterialssoldbypresentersatcostshallbeapprovedbytheAdultEducationCommittee(usuallyinthecourseofapprovingtheeducationclass),andthesedonotneedtobeapprovedbySession.Sessionmaydesignatecertainsalesforcertainpurposes(e.g.,soupsalestosupportDeaconactivities).Ifso,thenaccountingwillbeimplementedtoproperlyrecordrevenueforthesepurposes.IfSessiondoesnotdesignatetheproceedstogotospecificpurposes,itwillberecordedasgeneralunrestrictedrevenue.
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VII. Budget and Fund Management
A. Overview
TheChurchreceivesrevenuesfromsourcesincludingcontributions,CDCtuition,buildingusefeesandothermiscellaneoussources.TheChurchspendsmoneyintwoways:(1)generaloperatingfundsareexpendedinaccordancewithaSession‐approvedannualbudget;and(2)fundsareexpended(released)fromSpecialPurposeFunds.TheChurch’sfiscalyearisthecalendaryear.Theannualbudgetpreparationprocessbeginsinthethirdquarter.ItisajointeffortinitiatedundertheleadershipoftheFinanceCommittee,drawingonthesupportoftheTreasurer,StewardshipandInvestmentCommittees,andincollaborationwiththePastorandstaff,CommitteeChairs,andSession.Theannualprocessbeginsinthelatesummer,witharequesttoChurchmanagersandCommitteeChairshavingspendingauthoritytoprovideanestimateof:(a)theamounttheywillneedinthefollowingfiscalyeartosupporttheirannualoperations,tobefundedbyanallocationintheapprovedbudgetforthefollowingyear;and(b)additionalamountsthattheyintendtoexpendinaccordancewithaproposedspendingplanthattheysubmitforSpecialPurposeFundsforwhichtheyareassignedordelegatedresponsibility.
B. Budget and Spending Plan Preparation
AdraftbudgetandspendingplansforSpecialPurposeFundsareprepared,basedonChurchneedsasperceivedbythevariousManagersandresponsibleCommitteeChairs,thefinancialconditionoftheChurchastheyear‐endapproaches,andforecastsoftheChurch’sfinancialconditioninthefollowingyear.EstimationoftheChurch’sfinancialconditionforthefollowingyeartakesintoaccountprimarilytheamountofpledgesreceivedduringthestewardshipcampaign.AlsotakenintoaccountistheavailabilityofadditionalunrestrictedcurrentfundsintheformofC&CEandinvestments.Inaddition,theChurchmusttakeintoaccounttheportionofC&CEandinvestmentsthatrepresentRestrictedFunds,sinceRestrictedFundsareavailableonlyforparticularpurposesorforexpenditureoverparticularperiodsoftime.ThefinalbudgetisdeterminedbytheSession.TheseveralmanagersoftheChurch(e.g.,OfficeManager,MusicDirector,FacilitiesManager,CDCDirector,allunderthesupervisionofthePastorasHeadofStaff)areallocatedaportionoftheannualbudgetamountthatisestimatedtobesufficienttocovertheirordinaryoperatingexpensesduringtheyear(salaries,supplies,routinemaintenance,utilities,contractorservices,etc.).Theseareexpensesthatareroutinelyincurredeachyear.Theygenerallydonotincludeexpendituresforlarge,one‐timecapitalexpenditures;specialprojectsthatextendoveraperiodofyears;expendituresarisingfromRestrictedGifts;orinvestmentsmadetogenerateincome.
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Theleveloftheannualbudgetisdeterminedprimarilybythelevelofpledgecommitmentsfortheyear,assupplementedbyotherincome(e.g.,estimatedCDCrevenues,buildingrentalfees,unpledgedcontributions,andplateofferings).Itmayalsoincludefundingfromunrestrictedfunds,TemporarilyRestrictedFunds(totheextentconsistentwithdonorintent),and/orproceedsfromthesaleofinvestmentassets,asapprovedbytheSession.ThebudgetpreparationprocessbeginswiththeFinanceCommitteerequestingbudgetsandspendingplansfromthePastor,staffandCommitteeChairs.TheFinanceCommitteeshalldevelopaprocedurethatensurescollaborationandtransparencyamongallinvolvedparties.TheSessionapprovestheannualbudgetinDecemberandpresentsitasinformationtotheCongregationattheannualmeetinginJanuary.
C. Establishment and Closure of Special Purpose Funds
TheChurchmaintainsSpecialPurposeFundsinordertotrackandindependentlyaccountforfundsthatarelimitedbydonor‐imposedorSession‐imposedrestrictionsandthereforeensurethatdonationsareusedfortheirintendedpurposes.AsnotedinsectionIV.C.(1)“SubstantialUnrestrictedGifts,”onereasonforcreatingaSpecialPurposeFundisthereceiptofanUnrestrictedgiftorbequestofmorethan$25,000thatisnotgivenaspartofanannualpledge.SuchagiftmaybeinvestedandaccountedforinaSpecialPurposeFund.RestrictedGiftsthatcanbecompletelyexpendedinthecurrentyearmayormaynotbeheldinaSpecialPurposeFund,dependingonaccountingrequirements.ASpecialPurposeFundmaybeclosedbyactionofSession.ThiscouldtakeplaceuponthedepletionofaDonorRestrictedFundorthedeterminationthataSessionDesignatedFundisnolongerrequired.
D. Types of Special Purpose Funds
SpecialPurposeFundsconsistoftwotypes:(1)SessionDesignatedFunds(sometimesreferredtosimplyasDesignatedFunds)and(2)RestrictedFunds(sometimesreferredtoasDonorRestrictedFunds).SessionDesignatedFundsareSpecialPurposeFundscreatedbytheSessionandfundedwithunrestrictedassetsoftheChurch.Theyaregenerallyintendedtobeexpendedoveranextendedperiodtime,orforaparticularpurposeoutsidethescopeofnormalrecurringoperations.However,unlikeRestrictedFunds,DesignatedFundscanbedivertedtoanotherpurposeorexhaustedatanytimebyactionoftheSession.
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ExamplesofSessionDesignatedFundsincludethefollowing:
TheChurchdecidestoappropriateaportionofitsannualpledgerevenuestoaccumulateabuildingreservefundoveraperiodofyearstocoverexpectedcostsofmajorbuildingrepairsorcapitalimprovementsastheyareincurredinfutureyears.TheSessionthencreatesanewSessionDesignatedFundforthispurpose.
AdonorleavesasubstantialUnrestrictedGiftoffundstotheChurchinherwill.TheSessiondeterminesitismorethanisneededorcanbeeffectivelyusedtosupportoperationsinthecurrentyear.TheSessionthusdesignatesthefundstogointotheGeneralReserveFund,whichisaSessionDesignatedFund.
Inanunusuallygoodyear,theChurchreceivesregularcontributionsconsiderablyinexcessofitsbudgetedexpenditures,sotheSessiondecidestosetasidetheexcessinanewParkingFacilityFund.
ExamplesofTemporarilyRestrictedFundsandPermanentlyRestrictedFundsincludethefollowing:
Adonorgivesfundswiththerestrictionthattheybeusedtopayforthemaintenanceofaparticularitemofcapitalequipmentoveraperiodofyears,e.g.,theorgan.TheChurchcreatesanewTemporarilyRestrictedFundtoaccountforthefunds.
TheChurchsolicitsdonationsforaspecialgrantoffinancialaidtoasisterchurchinaforeigncountry,andthusthesolicitationisaGiftInstrument,whichrendersthesubsequentdonationsRestrictedGifts.ThesessioncreatesanewFundthatisTemporarilyRestricted,asitisdonor‐restrictedtoaparticularpurpose.
Adonorleavesabequestinhiswill,withtherestrictionthatitbeinvestedinperpetuity,withonlytheincomeavailableeachyeartosupportChurchoperations.TheChurchestablishestraditionalEndowmentFund,whichisaPermanentlyRestrictedFund.
Adonormakesaspecialgift,outsideofhisorhernormalpledge,withtherestrictionthatitbeusedtosupportaspecialprogramofeducationalmusiclessonsforchildrenovera5‐yearperiod.TheChurchestablishesanewTemporarilyRestrictedFund(alimitedtermEndowmentfundinthiscase).
ThefollowingchartillustratestherelationshipsamongtheseveralkindsofSpecialPurposeFunds.
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RevenuesandexpendituresassociatedwithaSpecialPurposeFundareindependentlyrecordedandreportedperiodically,sothatdonors,staffandresponsibleChurchcommitteescaneasilymonitorrevenuesaccruingtotheFundandexpendituresfromtheFund,andthustrackthefinancialstatusoftheFund.FinancialassetsrecordedinSpecialPurposeFundsmaybeheldascashandcashequivalents(C&CE)orasinvestments,asdeterminedbytheSessionactingonrecommendationsfromtheInvestmentCommitteebasedontheestimatedrateofdepletionoftheFund.CarryoverofSpecialPurposeFunds:UnexpendedassetsinSpecialPurposeFundsarecarriedoverfromyear‐to‐yearuntilcompletelyexpended.
SpecialPurposeFunds
SessionDesignatedFunds
DonorRestrictedFunds
PermanentlyRestricted
(Endowment)Funds
TemporarilyRestrictedFunds
PurposeRestrictedFunds
TermRestrictedFunds
Pass‐ThroughAccounts(Liabilities)
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ComminglingofRestrictedandUnrestrictedAssetsinSpecialPurposeFunds:TheSessionmayappropriateUnrestrictedfundstoaDonorRestrictedFund,resultinginthecomminglingofRestrictedandUnrestrictedfunds.Insuchevent,theUnrestrictedassetsshallbeseparatelyaccountedforasaSessionDesignatedFund,whichmaybereleasedanddivertedtootherpurposesatanytimebyactionoftheSession,unlessanduntiltheyhavebeenreleasedandexpendedinaccordancewiththepurposeoftheRestrictedFund.
E. Budget and Fund Expenditures
1.SessionRoleinDelegations
TheSessiondetermineswhohasauthoritytoinitiateexpenditureswithinthelimitsoftheannualbudgetandalsowhohasauthoritytomakeexpendituresfromSpecialPurposeFunds.SessionhasdelegatedtheauthorityforannualbudgetexpendituresandcertainSpecialPurposeFundexpenditurestothePastorasHeadofStaffandtodesignatedCommitteeswithinthelimitsofannualspendingplans.TheHeadofStaffhasinturndelegatedday‐to‐dayresponsibilityforroutineandapprovedbudgetexpenditurestocertainindividualstaffmembers.AsHeadofStaff,heorshecanchangethesedelegationswithoutSessionapproval.TheHeadofStaffshallprovidetheTreasurerandFinanceCommitteewithadetailedlistofdelegatedauthorityandinformthemimmediatelyofanychanges.TheSessionhasdelegatedtocommittees,asrepresentedbytheChairsortheirdelegees,theauthoritytomakeexpendituresfromSpecialPurposeFundswithinthelimitsoftheannualapprovedspendingplanforeachFund.Insomecases,Committeeshavedelegatedtheirresponsibilitytoastaffperson,withtheapprovaloftheheadofstaff,ortothechairoramemberoftheircommittee.DelegationsbythecommitteesmaybechangedwithoutSessionapproval,butthecommitteechairsmustnotifytheTreasurerandFinanceCommitteeofsuchchanges.TheTreasurershallmaintainalistofpersonsapprovedtomakeexpenditures.TheFinanceCommitteeshallperiodicallyreviewthisFinancialPolicyManualandensurethatitisuptodateconsistentwithSessiondirection.
2.DelegationsinOperation
ThissectionoutlinesthedelegationsineffectasofthemostrecentversionofthisPolicy.Churchmanagersgenerallyhavetheauthoritytomakebudgetexpenditures.Forexample,theFacilitiesManagerisauthorizedtomakeroutineexpendituresforoperationalpurposes,withinthelimitsofthebudgetforfacilityexpenses,andtheOfficeManagerisauthorizedtospendofficeexpenselineitems.
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Somestaff,suchasthePastor,MusicDirectorandCDCDirector,haveauthoritytospendbudgetedlineitemsaswellasauthorizeexpendituresfromparticularSpecialPurposeFundsforwhichtheyhavebeendelegatedresponsibility.Further,whileCommitteesaregenerallygiventheauthoritytoauthorizeexpendituresfromparticularSpecialPurposeFunds,andinsomecasesaregiventheauthorityoverbudgetlineitems.
3.ExecutionofBudgetandSpendingPlans
Duringthefiscalyear,managersandCommitteeChairsareexpectedtoexertreasonableeffortstoachieveestimatedrevenueprojectionsandtolimittheirexpendituresovertheyeartotheamountsandpurposesapprovedinthebudgetandspendingplans.IntheeventsubsequentcontributionsaremadetoanexistingFundduringafiscalyear,suchcontributionsdonotincreasetheamountofauthorizedexpendituresfromtheFund,unlessapprovedbytheSession.Duringthecourseoftheyear,responsibleManagersandCommitteechairsinitiateexpendituresbythesubmissionofacheckrequestalongwithsupportingdocumentationtotheBusinessOffice.TheBusinessOfficeissuestherequestedcheckandforwardsittotheintendedrecipient.TheTreasurershallissuetimelyreportsshowingmonthlyexpendituresandrevenuescomparedwithapprovedbudgetandspendingplans.ResponsiblemanagersandCommitteeChairsshallreviewthesereports.Intheeventofapotentialshortfallinrevenueoranunanticipatedexpense,theresponsiblepersonshallworkwiththeFinanceCommitteeandtheSessionasnecessarytoresolvetheproblem.Forexample,intheeventunanticipatedbuildingexpensesarise,theFacilitiesCommitteemayproposetotheSessionthatitbeauthorizedtoexpendadditionalfundsfromtheBuildingReserveFund.IftheSessionapprovessucharequest,theChairoftheFacilitiesCommittee,workingwiththeFacilitiesManager,isauthorizedtoapprovesuchexpenditure.FurtherguidanceontheadministrationofFundsissetforthinAppendixF,whichincludesalistofactiveSpecialPurposeFundsandthemanagerand/orCommitteeChairresponsiblefortheirmanagement.DescriptionsofFundsareinAppendicesF‐1throughF‐8.TheFinanceCommitteemonitorsrevenuesandexpendituresonamonthlybasistoidentifypotentialoractualvariancesfromtheapprovedbudgetandspendingplans.TheFinanceCommitteeshallbringanyconcernstotheresponsiblestafforCommitteechairsandtotheSessionasneeded.
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VIII. Accounting and Financial Reporting Practices
A. Restricted and Unrestricted Gifts
TheChurchstrictlyaccountsforallRestrictedandUnrestrictedgifts.SpecialaccountsaresetuptotrackbothDonorRestrictedgiftsandmoneydesignatedbytheSessionforspecialpurposes.IncompliancewithFASB117,financialstatementsarepreparedshowingnetassetsclassifiedintounrestricted(includingSessiondesignated)funds,temporarilyrestrictedfunds,andpermanentlyrestrictedfunds.Thisimplementswhatiscommonlyreferredtoas“FundAccounting,”whichisasystemofaccountingandfinancialreportingthatisparticularlyusefulfortrackinggiftrevenuesthathavebeenrestrictedtospecificpurposes,programsorprojects.Bywayofbackground,for‐profitorganizationsusetraditionalaccountingsystems,whicharedesignedtopresenttoinvestorsthefinancialconditionoftheorganizationanditsprofitability.Incontrast,nonprofitorganizationstypicallyhaveadifferentobjective,whichistopresenttheirfinancialconditioninamannerthatfacilitatestransparentaccountabilitytodonors,grantorsandothersourcesofnonprofitfunding.Consequently,nonprofitorganizationsusethenetassetsclassificationmethodofreporting,asprescribedbytheU.S.FinancialAccountingStandardsBoard(FASB).Inadditiontothenetassetsreportedonthebalancesheet,otherreportsarepreparedtoallowvolunteerleaders,Churchmanagers,anddonorstoreviewrevenueandexpendituresrelatedtoRestrictedFunds.AnyamountremaininginaDonorRestrictedFundoraSessionDesignatedFundattheendofafiscalyeariscarriedforwardintothenextyear,sothatdonorsorfundmanagerscantrackthedispositionoftheirgiftsfromyeartoyearuntiltheyarefullyexpended.Thisisunlikethetreatmentofunrestrictedoperatingfundsthatareallocatedtovariouslineitemsoftheannualbudget,whicharenotcarriedoverifnotusedbytheendoftheyear.AppendixFsetsforth:(1)asummaryoftheprocessforestablishingandmanagingSpecialPurposeFunds;(2)alistofactiveSpecialPurposeFunds,togetherwithFundaccountnumbersandtheidentityoftheresponsibleCommitteeChairorFPCemployeehavingspendingauthorityovertheFund,and(3)thecurrentFundIdentificationDocumentforeachFund,whichsetsforthpertinentinformationregardingtheFund.TheoverallpolicyregardingtheinvestmentoffinancialassetsrecordedinSpecialPurposeFundsmaybesummarizedasfollows:
SpecialPurposeFundsthataresmallinamount,orforwhichtherearefrequenttransactions,orwhichare''flow‐through"Funds;aregenerallyheldasCashand
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CashEquivalents,andinterestearnedwillbecreditedtotheOperatingFund.TherationaleforthispolicyisthatsuchFundsgeneratesmallamountsofinterestandreallocationofsmallamountsconsumesagreatdealofaccountingtime.
AFundthatisrarelyused,orwhichisintendedtobeexhaustedoveranextendedor
indefiniteperiodoftime,suchasalargeDonorRestrictedFund,maybeinvestedasdeterminedbytheTreasurerandtheInvestmentCommittee.EarnedincomefromsuchinvestmentsmaybereinvestedandallocatedtotheFund,dependingupontherequirementsofthedonorortheSession.
TransactionsandbalancesassociatedwithSpecialPurposeFundsarereportedtotheFinanceCommitteeandtheresponsiblemanagersorCommitteeChairsonamonthlybasis,totheSessiononaquarterlybasis,andtotheCongregationonanannualbasis.
B. Financial Reports
Onaquarterlybasis,theTreasurerpreparesandpresentsafullsetoffinancialstatementstoSession.ThisincludesaStatementofFinancialPosition,StatementofActivity(comparedtobudget),CashFlowStatement,andaReportofFundActivity.PriortoSession,theFinanceCommitteereviewsthesestatementsindepthandprovidesitsinputtoSession.Further,theFinanceCommitteeseesandreviewsmonthlydetailedfinancialstatementsandpresentstoSessionasummaryofyear‐to‐datetotalincomeandexpense.TheBookkeeperprovidesmonthlydetailedincomeandexpensereportstoCommitteesandtothePastorandstaffwhohavebudgetresponsibilities.Thesereportsareexpectedwithinthefirsttwoweeksafterthecloseofthemonth.ThequarterlyfinancialreportsarepublishedontheFPCwebsitefortheCongregationtoview.Theyear‐endStatementofFinancialPosition,StatementofActivity(comparedtobudget),andaReportofFundActivitySummarizedbyCategoryarepresentedtotheCongregationatitsannualmeetinginJanuary.
C. Annual Audit and Reports
Eachyear,asrequiredbytheBookofOrder(SectionG‐3.0113),“Afullfinancialreviewofallfinancialbooksandrecordsshallbeconductedeveryyearbyapublicaccountantorcommitteeofmembersversedinaccountingprocedures.”AnnuallytheFinanceCommitteeshallrecommendtoSessiontheproceduresandpersonnelwhowillconducttheannualaudit.AfterSessionapproval,theFinanceCommitteewillarrangefortheaudit/reviewbyanoutsideauditororaFinancialReviewCommittee.(SeeAppendixA.)Theauditors/reviewersshallpresenttheirfindingstotheSession.IfSessionacceptstheaudit,theresultsshallbesharedwiththefullCongregation,alongwithanyadjustmentsrequiredinthefinancialstatementspresentedtotheCongregationearlier.
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IX. Benevolence Policy
A. Background
FPCengagesinmodestbenevolenceactivitiesintheformofdirectprovisionoffinancialsupportforthebenefitofindividualsandfamiliesinneedintheSantaFearea.TheseactivitiesaredistinctfromotherFPCcharitableactivitiesthattypicallytaketheformofdonationstoothercharitiesandnonprofitorganizations.Tothisend,theChurchmaintainsaSpecialPurposeBenevolenceFundthatisfundedbydonationsandoccasionalofferingsapprovedbytheSession.TheBenevolenceFundisseparateanddistinctfromthePastor’sdiscretionaryaccount,whichisabudgetedlineitemavailableforprovidingassistancetoFPCMembersorothersinneed.ItisalsoseparateanddistinctfromtheMiscellaneousEmergencyOfferingsFund(fordisasterrelief);theMiscellaneousOtherCharitiesFund(fordonationstoothercharitableorganizations);andboththeCongregationalEmergencyAssistanceFundandtheDeaconsFund(thelattertwoofwhichexisttosupportFPCMembersandtheirfamiliesinneed).
B. Purpose and Administration of Benevolence Fund
TheprimarypurposeoftheBenevolenceFundistofurnishdirectfinancialassistancetoindividualsandfamiliesinneedintheSantaFecommunitywhoarenotMembersoftheChurch.However,theFundmaybeusedtosupportfinancialassistancetoMembersorStaffoftheChurchinneed,intheeventotherFPCsourcesoffundsareinsufficient.(Applicabletaxreportingrequirementswillbeobserved.)ThesepurposesareachievedthroughdirectdisbursementsunderthedirectionofaBenevolenceCommittee,whichconsistsofthePastorasChair,amemberoftheMissionandSocialJusticeCommittee,andanordainedElderappointedbytheSession.
C. Oversight and Accountability
TheBenevolenceCommitteeisaccountabletotheSessionfordischargingtheresponsibilitiessetforthbelow.
D. Revenues
SourcesofrevenuesfortheBenevolenceFundaregiftsfromMembersandfriends,whichareacceptedatanytime,andspecialofferingsauthorizedbytheSession.GiftsearmarkedfortheBenevolenceFundmustbeidentifiedassuch.Theymaynotbeearmarkedorotherwiserestrictedtospecificindividualrecipients,althoughdonorsarefreetorecommendindividualrecipientstotheBenevolenceCommittee.
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E. Requests for Benevolent Assistance
ArequestforfinancialassistancemustbedocumentedbytheBenevolenceCommitteememberassistingtheperson.TherequestmustbesignedanddatedbytheapplicantandtheCommitteemember.TheCommitteemembertakingtherequestwillalsorequestverificationofneedintheformofsupportingdocumentationortheapplicant’sconsenttocontactthird‐partyreferencesforconfirmation.
F. Guidelines for Selection of Recipients
DisbursementsfromtheFundunderthisPolicyarelimitedtoindividualsinneedandtheirfamilies.Benevolenceassistanceisintendedasasourceoflastresort,tobesoughtonlywhenanindividualhasexhaustedotherpossibilitiesofhelpfromfamily,friends,savingsandsocialwelfareprograms,includingothermissionresourcesoftheChurch.Itisintendedtobeasourceoftemporaryassistanceduringatimeofcrisis.Assistanceisgenerallyintendedtobeaone‐timegift.Inspecialcircumstances,theCommitteemaymakemultipledisbursementsoveraperiodoftime.Nobenevolentdisbursementistobeconsideredaloan.Repaymentwillnotberequestednoracceptedassuch,eitherinpartorinfull.IfarecipientdesirestogivetotheChurchatalaterdate,heorsheshouldbeencouragedtogivedirectlytotheChurchwithoutqualification.TheCommitteeshallmakeareasonableinquiryofanyindividualseekingassistance,toensurethathisorherneedislegitimateandthattheindividualisaccuratelyrepresentinghisorherfinancialsituation.TheCommitteemayconditionfinancialassistanceonreceiptofverifyingdocumentationorcommunicationsfromthird‐partyreferencesverifyingtheneedoftheindividual.Personsrequestingassistancemustalsobewillingtoacceptfinancial,family,occupationaloremotionalcounseling.TheCommitteewillnotprovideassistancetoanyonewho,initssoleopinion,islikelytosquandersuchassistancethroughnegativeorirresponsiblebehavior.Generally,assistancewillnotexceed$1,500perpersonorfamily.(ThisisacumulativecapinthecaseofsomeonewhoreceivesmorethanonegiftfromtheFund.)Inveryunusualcircumstances,familiesandindividualswhoareinneedofadditionalfundsandwhohavetheopportunitytomakealife‐changingdecisioncancontinuetobeassisteduptowhateverlimittheCommitteedeemsappropriate,subjecttotheavailabilityoffunds.Suchcasesshallbereviewedcarefullyand,whenappropriate,thecaseshouldbesubmittedtotheSessionforapproval.
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G. Types of Assistance
ThestatedpurposeoftheBenevolenceprogramistomeetbasicneedsofindividualsandtheirimmediatefamilies.Normally,theseneedsare:
Food. Lodging. Clothing. Medicaltreatment. Transportationtoorfromaplaceofemployment. Funeralexpenses. Initialevaluationanduptotwoadditionalprofessionalcounselingappointments.
NeedsthatmaynotbemetbytheBenevolenceprograminclude:
Privateschoolfeesortuition,businessinvestments,oranythingthatisintendedtogenerateincometotheindividualorfamily.
Payingoffcreditcarddebt(exceptionmaybemadewhenanindividualhashadtouseacreditcardinacrisisoremergency).
Legalexpenses. Finesorpenaltiesrelatingtolatepaymentsorirresponsibleactions.
Financialassistanceforcounselingwillbeconsideredifitisdeterminedthatcounselingwoulddirectlyenabletheindividualtoaddressacurrentfinancialsituation.Inmostcases,thisislimitedtoaninitialcounselingappointment.Underspecialcircumstances,additionalassistancemaybegiven.
H. Processing of Requests and Disbursement of Funds
RequestsforassistanceshallbesubmittedtotheCommittee,whichshallreviewtherequest,reachadecision,andnotifythepersonmakingtherequestofthedecision.Whilerecommendationsofrecipientsfromdonorsorotherswillbeconsidered,alldecisionsoftheCommitteeshallbemadeindependentlyandshallbefinal.TheCommitteeshallsubmitsummaryreportsofitsdecisionstotheSession.PersonallyidentifiableinformationshallbereportedtotheSessiononlyuponitsrequest,andonlyinaconfidentialexecutivesessionoftheSession.Otherwise,suchinformationshallbemaintainedinconfidencebytheCommittee.Tothemaximumextentfeasible,disbursementsofcurrencydirectlytothebeneficiarywillbeavoided.DisbursementswillpreferablybemadeintheformofdirectpaymentfromFPCtoserviceproviders(e.g.,bydirectpaymentsofrentorutilitybills,purchaseofgrocerystorecashcards,etc.).
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X. Internal Controls
TheleadershipoftheFirstPresbyterianChurchrecognizestheneedforstronginternalaccountingcontrolstoprotecttheChurchanditsstaffandvolunteerswhohandlemoney.Strongcontrolshelppreventtheft,helpdiscovererrorsinatimelyfashionsotheycanbecorrected,andalsoprotectvolunteersandstafffromunfoundedsuspicionofwrongdoing.FollowingaretheinternalcontrolsadoptedbytheSession.
A. Session Responsibility
Inadditiontosettingtheinternalcontrols,itisthepolicyoftheSessionto: Regularlyreviewfullfinancialstatements.TheSessionwillreviewfullfinancial
statementsonaquarterlybasisandabbreviatedfinancials(income,expense,net)betweenquarterlyreviews.TheFinanceCommitteewillreviewfullfinancialstatementsmonthly.
Adoptanannualbudgetandcompareactualstothebudgetatleastquarterly. Maintainandperiodicallyreviewallfinancialpolicies. EnsurethatanyIRSnoticesareopenedbysomeoneotherthantheBookkeeper. Divideandsegregatedutiesrelatedtofinancessothatnoonepersonhandlesall
aspectsofatransactionfrombeginningtoend. DesignatesomeonetobeTreasurerwhoisnottheBookkeeper. Designateotherpersonsauthorizedtoopenbankaccounts(asof2016Clerkof
Session/CorporateSecretary). Designatesignatoriesonbankaccounts(asof2016Treasurer,President,andVice
President). Ensurethatanystafforvolunteerswhohavetheabilitytoedittheaccounting
recordsnothaveaccesstoFPCcashorcashequivalents,unlesscompensatingcontrolsareinplace.4
Ensurethatafinancialreviewofallfinancialrecordsisconductedeachyear,eitherbyapublicaccountantoracommitteeofmembersversedinaccountingprocedures.SessionshouldapprovetheauditfirmorauditcommitteeuponrecommendationoftheFinanceCommittee.
4“Compensatingcontrols”includetimelymonthlyreviewofaudittrailsavailableintheaccountingsystems;inspectionsofsetups,entries,orexternalsources;orothersimilaraccountingpracticestypicallyusedwhenlimitedstaffresourcesprecludestrictcompliancewiththesepolicies.
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B. Cash Receipts
1. Collections
Moneyreceivedduringcollections(e.g.,Sundayofferings,TGIF,Deaconssoupsales,men’sbreakfast,retrievaloffundsfromdonationbox)shallbeinplainsightofatleasttwounrelatedpersonsuntilitisplacedinthesafe(preferablycountedandinasealedenvelopesignedbybothpersons).
Anydonationsearmarkedforanotherorganizationshouldbereviewed.Ifitisapreviouslyapprovedorganization,itmaybedeposited.(SeeSectionIV.C.2“GiftsSubjecttoReview”andTable5.)Ifnot,itshouldbeheldoutandbroughttotheattentionoftheTreasurer.
Nolessthanonceaweek,atleasttwodesignatedandunrelatedcountersshouldtakeallenvelopesfromthesafeandtakethemtoasecurelocationtocountanyuncountedfunds.
Eachpersonshallinfullsightofeachothercountthecashandthechecks,andallchecksshallbeendorsedwitha“ForDepositOnly”stamp.
Thetotalofcashandchecksshallberecordedonasummaryformandadepositticket.
ChecksandotherdocumentsshallbecopiedandgiventotheBookkeeperalongwiththesummaryanddepositticket.
Countersshalleithertakethemoneytothebankfordepositorplaceitinsealedandsignedenvelopeandputitbackinthesafeforsomeoneelsetodeposit.
ThepersondesignatedtotakethemoneytothebankfordepositshallnotbetheTreasurer,BookkeeperorOfficeManager,unlesscompensatingcontrolsareinplace(e.g.,countersprovidingcopyofdepositsliptoBookkeeperinadvance).
TheBookkeepershallrecordthepaymentsintothemembershiprecordsand/oraccountingsystemassoonaspossible,andnolaterthanoneweekafterreceipt.
AllcollectionsmustbedepositedintheFPCcheckingaccount.Nodisbursementmaybemadefromundepositedcollections.
AllSundaycountersarerequiredtoholdallinformationconfidentialandtosignaformindicatingthisandthattheywillfollowtheaboverules.TheCountersCoordinatorensuresthatnewcountersaretrainedandsigntheform.(SeeAppendixEandFormentitled“FPCAgreementforOfferingCounters.”)
2. MoneyReceivedbyMail
Someonewithoutaccesstothemembership/donororaccountingsystem(seeTable4)shallbedesignatedtoopenthemail,unlesscompensatingcontrolsareinplace.
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Anydonationsearmarkedforanotherorganizationshouldbereviewed.Ifitisapreviouslyapprovedorganization,itmaybedeposited.(SeeSectionIV.C.2“GiftsSubjecttoReview”andTable5.)Ifnot,itshouldbeheldoutandbroughttotheattentionoftheTreasurer.
Enclosedchecksshallbeimmediatelyendorsedwitha“Fordepositonly”stamp. Moneyandsupportingdocumentationshallbesecuredinasealedenvelopeand
placedinthesafe. Largechecksmaybedepositedatthebankduringtheweek,andthedepositslip
andbackupinformationgiventotheBookkeeper. AnymoneypresentinthesafeonSundayshallbecountedalongwiththeSunday
offeringbyregularchurchcounters.
3. RentPayments
TheFacilitiesManagerandOfficeManagermaycollectrentchecksinperson. Thechecksshallbestamped“ForDepositOnly”andimmediatelydepositedin
thebankorplacedinanenvelopeinthesafe. RentchecksmaybedepositedbytheOfficeorFacilitiesManager. CopiesofthechecksandthedepositticketshallbegiventotheBookkeeper.
4. Tuition
TheCDCDirectorusesadatabase(which,atthiswritingin2016,iscarriedasaseparate“company”ontheaccountingsystem)totrackinvoicesandpayments.
TheCDCDirectorinvoicestheparentsbasedoncontractedratesandadjustments.
ParentsturninpaymentstotheCDCDirectorordesignee. Preschoolpaymentsareheldinalockeddraweranddepositedonceaweekby
theDirectorordesignee. CopiesofchecksareturnedinwithdepositsliptoBookkeeper(markedasCDC
tuition). TheBusinessOfficetransmitsorotherwisemakesavailableonlinetotheCDC
DirectorinformationrelatingtoCDCtuitionpayments. TheCDCDirectorentersallpaymentsintoherdatabase. TheCDCDirectormaintainscompleterecordsofCDCattendance,invoicesand
payment Attheendofthemonth,afulllistofinvoicesandpaymentsareturnedintothe
Bookkeeper. TheBookkeeperandTreasurerreviewthemonth’sinvoicesandpayments. TheTreasurershallperiodicallyreviewattendancerecordsasdeemed
appropriate.
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5. ElectronicPayments
SomeonewithnoeditingaccesstotheaccountingormembershiprecordsshallestablishandmaintainthelinkfromtheChurch’sEFTprocessorsforonlinepaymentsandsales(seeTable4)totheChurch’sbankaccount,unlesscompensatingcontrolsareinplace(e.g.,dualorperiodicreviewsofthesetup).
TheBookkeeperorotherdesigneeshallenterdonationsandpaymentsintothemembershipandaccountingsystems.
6. DonorStatements
TheBookkeepersendsquarterlystatementsorotheracknowledgementtoalldonors.
TheTreasurerorBookkeeperpromptlyfollowsuponanydiscrepanciesbetweendonorandChurchrecords.
7. SpecialDonations
TheStewardshipCommitteeadministersthepolicyonAcceptanceandManagementofGiftsandDonations(SectionIV).
Donationsofstockareusuallyconvertedtocashimmediatelybythebrokeragefirm(seeSectionIV,C.1“Stocks,MutualFundsandOtherSecurities”).
Donationsofgoodsareinspectedandvaluedforinternalaccountingpurposesonly.
Donationsofprofessionalservicesarevaluedattheirnormalbillingrateandrecordedintheaccountingsystem.
TheTreasurersendsacknowledgementletterstoalldonorsofspecialdonations.
C. Cash Disbursements
1. Checks
ItisthepolicyofFPCtoordinarilypayvendorsbycheckforgoodsorservices. TheTreasurer,corporatePresident,andcorporateVicePresidentarethe
authorizedchecksigners.(SeeTable3fornamesofcurrentofficers.) Checksfor$5,000andovermustbesignedbytwoauthorizedchecksigners. Thedollarlimitshallbeprintedonthechecks. Checksshallalsohave“Notvalidafter90days”printedonthechecks. Voidedchecksaremutilated(signatureportionremoved)andsaved. Nooneisallowedtosignachecktohim/herself.Further,someoneotherthan
therecipientofthepaymentshallalsosigntheauthorizationform.
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Allpaymentrequestsshallhavebackupdocumentationandacheckrequestformproperlycompletedandauthorized.(SeeCheckRequestForm.SeealsoAppendixC“ExpenseReimbursementPlan.”)
W‐9sarerequiredforallcontractorsorvendorsthatarenotincorporated. ThisFinancialPolicyidentifieswhichstaffpersonsandvolunteerleadershave
theresponsibilitytoauthorizepaymentsoutofbudgetedlineitemsorRestricted/Designatedfunds.(SeeSectionVI.E.“BudgetandFundExpenditures”andalsoTables1and2attheendofthisdocument.)
ChecksrequestsanddocumentationaregiventotheBookkeeper,whoentersfullydocumentedrequestsintotheaccountingsystemandcutsthecheck.
TheBookkeepergivestherequestform,backupdocumentation,andchecktothechecksigner.
Thechecksignercomparesthechecktotherequestanddocumentationandsignsthecheck.
Thechecksarethenmailedandthedocumentationfiled.
2. AutomaticElectronicPayments
FPCcurrentlylimitsautomaticpaymentstoutilities,copierserviceandpensionandbenefitspaymentstotheBoardofPension,only.
Anauthorizedchecksignermustapprove/signanyautomaticbankpaymentagreements.
Statementsfromthevendorgotothepersonwhoisauthorizedtomaketheexpenditure(e.g.,utilitybillsgototheFacilitiesManager).Thispersonfillsoutandsignsarequestformandsecuresanyotherauthorizationneeded.
ThestatementandformareturnedintotheBookkeepertocomparewiththebankdraft.
3. PettyCash
TheOfficeManagermaintainsapettycashboxofapproximately$100. Staffandvolunteerswhorequestanadvanceorreimbursementforanexpense
shallprovidetheOfficeManagerwithdocumentationoftheexpense. Pettycashisreconciledwhenadditionalmoneyisneeded,oratleastquarterly. Noreimbursementshallbemadefrompettycash. Personsneedingreimbursementmustsubmitcheckrequestandappropriate
documentation.
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4. CreditCards
FPChasthreeChurchcreditcardsissuedtotheOfficeManager,FacilitiesManager,andCDCDirector.
CreditcardlimitsaresetbySessionuponrecommendationbyFinanceCommittee.
FPCcreditcardsaretobeusedonlyforFPCpurposes—noprivateuseisallowed.
Nocashadvancesareallowed. Onlinepurchaseswillbeaccompaniedbyanorderconfirmationandapacking
slip,asappropriate. Thecreditcardholdersholdreceiptsuntilthestatementcomesin.Theythen
compilethereceiptsandstatementswithapaymentrequestformandsubmittotheBookkeeperbeforethepaymentdeadline.(Thepaymentrequestformmustbesignedbytheperson(s)neededtoauthorizetheexpenses.)
TheBookkeeperreconcilesthereceiptswiththecreditcardstatement. Ifallreceiptsareprovidedandallexpendituresproperlyapproved,the
Bookkeepercutsthecheckanditissignedbyanauthorizedsigner. Toavoidinterestcharges,thecreditcardbalanceshallbepaidinfulleachmonth
priortothedeadline. Allrebatesorrewardsearnedonthecardaccountwillbedepositedinthe
ChurchaccountorotherwiseaccruedtothebenefitoftheChurch.
D. Bank Statements
TheSessionapprovestheestablishmentofnewbankaccounts. TheClerkofSessionopensthebankstatements,reviewsforreasonableness,and
initialseachpageofthestatement. TheClerkofSessionshallensurethathe/shereviewsthestatementfromeach
bankeachmonth. TheBookkeeperreconcilesthebankstatementwiththeaccountingrecords
beforethemonth‐endclosing. TheTreasurerreviewsthereconciliation. Bothreviewerslookforanyunknownvendors,anychecksnotproperlysigned,
anypaymentsthatappeartobeduplicated,anyunexplainedout‐of‐orderchecknumbers,andanythingelsethatappearstobeoutoftheordinary.
Thereviewerswillreviewopenitemsonreconciliations,suchasdepositsonbooksbutnotbankstatements,paymentsonbankstatementsbutnotonbooks,andunreconcileditemsover30daysold.
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E. Vendors
Treasurershallreviewtheestablishmentofnewvendorsandotherpayeesintheaccountingrecordspriortoanyinitialpayment,includingtheverificationofvendorname,address,phone,taxID,email,andbankinginstructions.
Treasurershallreviewlistofapprovedvendorsquarterly,includingamountspaid.
FinanceCommitteeshallreviewthelistofvendors/payeesannually,includingamountspaid.TheCommitteeshallincludethelistinareporttotheSession.
F. Payroll
TheSessionauthorizesanynewhires,includingtheircompensation,andchangesincompensationforexistingstaff.
TheClerkofSessionnotifiesthepayrollclerk,BookkeeperandTreasurerofanysuchchanges.
Payrollishandledbyanoutsidepayrollprocessor. Thepayrollclerks(currentlytheOfficeManagerandCDCDirector)record
changestothepayroll(newhires,compensationchanges,andterminations)ontheonlinepayrollsystem.
Thepayrollclerk(s)phoneinthehoursworkedforeachemployee,vacationused,etc.,forthebiweeklypayroll.
Allemployeetimesheetsshallbesignedbytheemployee’simmediatesupervisor.
Allemployeesreceivepaymentsbyelectronicfundstransfertotheirbankaccounts(exceptforafinalpayment).
Thepayrollprocessorautomaticallysendsrequiredpayrolltaxpaymentstothestateandfederalgovernments.
Otherwithholdings(retirement,etc.)arepromptlyforwardedbytheTreasurertotheappropriatevendor.
TheBookkeeperreceivesthepayrollreportfromthepayrollprocessorandentersdataontotheaccountingsystem.
TheTreasurerreviewsthepayrollentryandthepayrollreportandcomparesittoinformationreceivedregardingpayrollchanges.
G. Investments
ThereisawritteninvestmentpolicyapprovedbySession(seeSectionVandAppendixDandseevendorsinTable4).
TheInvestmentCommitteewillmakerecommendationstotheSessionontheallocationofinvestmentsincompliancewiththeinvestmentpolicy.
OnceSessionhasapprovedtheallocations,theChairoftheInvestmentCommittee,Treasurer,President,andVicePresidentareauthorizedtomove
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fundsinaccordancewithSessionapprovedguidelines.TheTreasurerandChairoftheInvestmentCommitteeeachreceiveemailnotificationsfromthebrokeragefirmconfirminganyfundmovements.
TheInvestmentCommitteereviewsinvestmentstatementsquarterlytodeterminethatinvestmentsareincompliancewithpolicyandtoevaluatetheneedforallocationchanges.
InvestedfundsarewithdrawninaccordwithguidelinessetbySession.ThoseauthorizedtowithdrawfundsarethePresident,VicePresident,andTreasurer.FundswithdrawnaresentbychecktoFPCortransferreddirectlyintoFPC’scheckingaccount.
H. Physical Assets
AcquisitionsanddisposalsofchurchpropertyrecordedasanassetontheChurchfinancialrecordsorinventoriesareapprovedbySession.Managersareauthorizedtodisposeofsupplies.
TheFacilitiesManageroverseesthesecurityofart,furniture,fixtures,andcomputers.
TheFacilitiesManager,workingwiththeHistoryCommittee(fortheart)andtheOfficeManager,makesalistofanyacquisitionsordispositionofsuchassetsthroughouttheyear.
TheFacilitiesManagerandOfficeManagertogether(alongwithaHistoryCommitteememberasappropriate)conductanannualinventoryofart,furniture,fixtures,andcomputers.
TheTreasurerreviewstheresultsoftheinventoryandchanges.
I. Computer Security
TheTreasurershallapprovewhohaswhattypeofaccesstothecomputeraccountingsystems.
TheTreasurerandtheBookkeepershallreviewalistofthosepersonswhoaccessedtheaccountingsystemseachmonth.
TheTreasurershallreviewthelistofpersonnelwithaccesstotheaccountingsystemsannuallyandpresentthelisttotheFinanceCommittee.
TheOfficeManagerisresponsibleforcomputersecurityandworkswithaprofessionalITservicecontractor.
Allcomputerfilesarecontinuallybackedupintothecloud. Thenetworkhasacurrentlyvalidinternetsecuritysoftwarepackage,which
includesanti‐virus,anti‐malware,contentfilteringandfirewallwhichisthefirstlineofdefense.
Eachcomputerhasanti‐virussoftware.
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Networkedcomputersandlaptopsarekeptinlockedrooms. Userswhocanchangedatahaveuniqueloginsandpasswords.
J. Safe
Sessionshallapprovewhohasaccesstoanysafecombination. Safecombinationsshallbechangedannually,andafterdepartureofanyemployee
orvolunteerwhohasaccesstothecombination. TheClerkofSessionshallmaintainthecombinationsinasealedandtapedenvelope
foremergencyuse.
K. Debt
Anyborrowing,withtheexceptionofcreditcarddebtwithinthecreditlimitsofthecardaccount,mustbeapprovedbyactionoftheSessionrecordedinitsminutes.
DetailsonmanagementofdebtisdecidedbySessionattimeofincurrenceofdebt.
L. Bonding
TheSessionmayrequireasuretybondofanyOfficer,Elder,Deacon,orMemberoftheCongregationwhohaveaccessto,orareinchargeof,orcontrolfundsoftheChurch.
TheChurchmaintainsemployeedishonestyinsurancecoveringagainsttheftbyemployeesorvolunteers.
Anyinstancesoftheftthatarediscoveredarereportedtotheinsurancecarrier.
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XI. Insurance and Risk Management
A. Purpose and Scope
TheBookofOrder(G‐3.01112)requireseachSessiontoobtainpropertyandliabilityinsurancecoveragetoprotectitsfacilities,programs,staffandelectedandappointedofficers.Theroleofchurchesischangingandwithittheneedforchurchboardstoreviewwaystoprovideadequateinsuranceforallpropertydamage,accidentandliabilitysituations.Gonearethedayswhenthechurchactivitieswerelimitedtoweekendservices,specialholidayfunctionsandchurchdinners.Today,thechurchisthehubofdiverseactivitiesincludingfundraisingevents,preschoolprograms,socialactiongroups,scoutsandothermeetings.Manychurcheshaverelatedpropertysuchasschools,gymnasiums,nursinghomesandcemeteries.Congregationsareinvolvedinmanyoff‐premisesactivitiessuchascamps,excursions,tours,outingsandretreats,manyofwhichrequiretheuseofbusesandothermotorizedequipment.Inaddition,thereistheexposuretovandalism,riots,bombingsandarson.Withallthisinvolvement,thechurchhasincreasedliabilityoverthechurchof50yearsago.Thetaskofadequatelyinsuringthechurchagainstmanysituationsbecomescomplicated.ResponsibilityforriskmanagementandinsuranceatFPCresideswiththeTreasurerinconsultationwiththeFinanceandFacilitiesCommitteesandtheFacilitiesandOfficeManagers.TheFinanceCommitteeshallrecommendtotheSessionaprogramofinsurancewithapprovedbrokersand/orinsurersdulylicensedinNewMexico.TheFacilitiesManagerisconsideredtheRiskOfficerforFPCandthereforeisresponsibleforissuessuchassecurity,safetyandincidentreporting.ThePC/USAhasanOfficeofLegal/RiskManagementthatwelcomesquestionsatanytimeintheareasofInsuranceforchurches.PC(USA)haspublishedandcontinuestoupdateaManualentitled“LegalResourceManualforthePresbyterianChurch(USA)MiddleGoverningBodiesandChurches.”
B. Delegation of Insurance and Risk Management Functions
SubjecttotheapprovaloftheSession,theFinanceCommitteemaydelegatetoanexternalagent(insurancebrokeroragent)themanagementofthebidprocess.Inenteringintoanysuchdelegation,theSessionandtheFinanceCommitteeshallactingoodfaith,withthecarethatanordinarilyprudentpersoninalikepositionwouldexerciseundersimilarcircumstances,in:
Selectingabrokeroragent.
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Establishingthescopeandtermsofthedelegation,consistentwiththepurposesoftheChurchneedsandriskmanagementpolicies.
Reviewingtheagent’sactionssemi‐annuallyinordertomonitortheagent’sperformanceandcompliancewiththescopeandtermsofthedelegation.
AnyagentappointedbytheChurchshallberequiredtosubmittothejurisdictionofthecourtsofNewMexicoinanyproceedingsarisingfromorrelatedtothedelegationortheperformanceofthedelegatedfunction.
C. General Insurance Guidelines
TheFinanceCommitteeshallreviewandreporttoSessiononFPC’sinsuranceprogramannually.AnnualauditoftheChurchfinancesshallincludeverificationthatinsurancebillshavebeenpaid.Insurancepackagesand/orprogramsshallbebideverythreeyears.InsurersshallbeadmittedintheStateofNewMexicoandcarryanA.M.BestRatingofnotlessthanA‐IX.Non‐admittedinsurersmaybeconsideredwithS&PratingofatleastAAorequivalentwithMoody’sorFitch’s.BrokersshallbeapprovedbySessionandshallhaveexperienceinriskmanagementforchurchesaswellasadequatelicensedstafftoprovideallservicesrequiredbyFPC.BrokerperformanceshallbeperiodicallyreviewedbytheSession.ARiskProfileshallbemaintainedwhichcapturestheexposureinformationforthepurposeofbuyinginsuranceandupdatedeverythreeyearsastoreplacementcostvalues.Schedule5shallbecreatedandmaintainedtoinclude:
Property—Buildings,furniture,fixturesandequipment,suppliesandotherfixedassets.Insuranceshallbeacquiredonareplacementcostbasis,covering“allrisk”orspecialperilsincludingflood,earthquakeandothercatastrophicperilsifsuchexposuresexist.Deductiblesshallnotexceed$25,000,shallbewrittenonablanketvaluebasiswithnocoinsurancepenalties.Aninventoryofallitemswithintheseproperties,eventhosethatarenotthepropertyofthechurch,suchasthepastor’spersonallibraryorequipmentloanedorleased.
FineArts—Musicalinstruments,otherspecialtyitems.Insuranceshallbeobtained
onascheduled,statedvaluebasiswiththesameperilsasontheProperty.Deductiblesshallnotexceed$25,000fortheentireschedule,$5,000eachitem.
BusinessInterruption—ExtraExpense.InsuranceshallbeobtainedtoadequatelycoverthecostofalternatefacilitiesfortheChildDevelopmentCenteraswellasthe
5Anyreferencetolimitamountsand/ordeductiblesisreflectiveofcurrentpolicies,andsuchamountsmaybesubjecttochangebySession(uponadviceoftheFinanceCommitteeand/orBrokers).
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Churchforusualoperations—foraperiodofatleast6months,intheeventacatastropheoccursandthefacilitiesareseverelydamagedordestroyed.
EmployeeDishonesty—CrimePolicy.Appropriatelimitsshallbemaintained.
GeneralLiability—ExcessandUmbrella—AutomobileLiability.Appropriatelevelsofcoverage(notlessthan$5,000,000eachoccurrenceandintheaggregate)forthird‐partyinjuryeitherbodilyinjuryorpropertydamageshallbepurchased.ThecoverageshallextendtoalloperationsandfacilitiesofFPC,includingCDC.
PoliciescoveringotherliabilitiestobeinsuredasspecifiedbytheBookofOrdershallbemaintainedwithadequatelimitsandappropriatedeductibles.Theseinclude:
Directors&OfficersLiability. EmploymentPracticesLiability. SexualMisconduct. ProfessionalLiability(i.e.,PastorsandEducators,Counselors).
StatutoryorRequiredInsuranceshallbemaintained.Theseinclude:
Workers’Compensation—EmployersLiability. EmployeeBenefitsandPension.
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XII. Contracts and Other Agreements
A. Purpose and Scope:
TheThirdAmendedandRestatedBylawsofFPCeffectiveJanuary1,2013,Article6,Section6.1statesthat:“Sessionmayauthorizeanyofficerorofficers,agentoragentstoenterintoanycontractorexecuteanddeliveranyinstrumentinthenameoftheCorporationoronbehalfoftheChurchwhichwillfurtherthepurposeforwhichtheChurchwasestablishedandmaintainsitsexistence.Suchauthoritymaybegeneralorconfinedtospecificinstances.”Article5,Section5.2(A)statesthat:“exceptasotherwiseprovidedbytheSession,thesebylawsorrequiredbylaw,thepresidentshallexecutealllegaldocumentsandinstrumentsonbehalfoftheCorporationwiththesecretary...“.IntheabsenceofthePresident,theVicePresidentshallperformthedutiesofthePresident(Section5.2(B).
B. Legal Documents or Instruments
Theterm“legaldocumentsorinstruments,”asreferencedintheBylawsaboveandrequiringexecutionbythePresident(andtheSecretaryifrequired),isinterpretedbytheSessiontoincludecomplexcontracts,agreementsandotherlegallybindingdocumentssuchasthefollowing:1) Trustagreements.2) Litigationorinvestigatorymatters.3) RealEstateTransactionssuchasdeedsorleaseagreementsthatextendmorethanone
year.4) Agreementsorotherdocumentsrelatingtocorporategovernance,partnerships,
reorganizations,mergers,dissolutionandothersimilarcorporatematters.5) Othercomplexcontracts,agreementsorotherdocumentshavingsignificantimpacton
thefinancesorthemissionoftheChurch,includingbutnotlimitedtocontractsandagreementsthat:a) Areanticipatedtohaveanannualcostofmorethan$5,000.b) WillresultinFPCcommitmentsextendingmorethan1year.c) Includeindemnificationandinsuranceprovisions.d) Arefortheacquisitionofnon‐retailgoodsorservicesnotsoldatpublishedprices.e) HaveapotentialtoresultinsignificantandunanticipatedFPCliabilitiesorcosts.f) InvolveuseofFPCpropertybythirdpartiesformorethan30days.g) Involveacquisitionofaudit,accounting,legal,consultingorotherprofessional
services.h) Involvenegotiatedintellectualpropertyrights.i) CouldexposeFPCtocontroversyorcriticismorwouldbeinconsistentwiththe
missionoftheChurch.
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Inordinarycircumstances,theSessionshallapprovealllegaldocumentsandinstrumentsasdefinedabove.TheAdministrationCommitteeshallberesponsibleforevaluatingandprovidingrecommendationstotheSessiononsuchlegaldocumentsandinstruments.InextraordinarycircumstanceswhereSessionapprovalisnotfeasibleduetotimeconstraints,theAdministrationCommitteeandPresidentshallassumeresponsibilityforfinalapprovalandexecution,andshallreporttheactiontotheSessionatthenextopportunity.
C. ManagementAuthorizations
ThefollowingdefinestheauthorityoftheHeadofStaffandotherFPCmanagerstonegotiateandexecutecontracts,agreementsandotherdocuments.TheHeadofStaff,andsuchFPCmanagersasmaybeproposedbytheHeadofStaffandauthorizedbytheSession,maynegotiateandexecute,withoutSessionapproval,contracts,agreementsandotherdocumentsthatdonotarisetothelevelof“legaldocumentsorinstruments,”asdefinedabove.Theseincluderoutinepurchaseorders,useagreements,serviceagreementsextendingforoneyearorless,supplyorders,shorttermleases(eitherastenantorlandlord,eitherneworrenewal,andforeitherrealestateorequipment)thatfallwithintheirindividualprojectorresponsibilities.ManagersshallfollowallapplicableFPCpoliciesandprocedures,suchastheFacilitiesUsePolicy,PersonnelManualandthisFinancialPoliciesManual.Forcontracts,agreementsordocumentsthatdepartfromorarenotcoveredbyotherFPCpoliciesandprocedures,managersshallconsultwithandseekapprovaloftheAdministrationCommitteeandanyotherappropriateCommitteepriortoexecution.OtherthanelectedofficersofFPC,MembersandotherFPCvolunteersarenotauthorizedtoexecutecontracts,agreementsorotherdocumentsonbehalfofFPC.
D. Documentation and Filing
FPCManagersareresponsibleforacquiringvalidandappropriateCertificatesofInsurancefromanycontractororuserofFPCfacilities,asspecifiedbytheFacilitiesUsePolicy.AnyquestionregardingthisrequirementmaybedirectedtotheTreasurerorFinanceCommittee.Finalcopiesofalllegaldocumentsandinstruments;othercontracts,agreementsordocuments;andCertificatesofInsuranceshallbefiledintheBusinessOfficeorapprovedfilingsystemwithintheArchives.
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XIII. Document Retention and Destruction Policy
A. Purpose and Scope
IncompliancewithThePresbyterianHistoricalSocietyguidelines,FPChasadoptedthefollowingRetentionSchedule.Itisapplicabletobothdigitized,electronicallystoreddocumentaswellaspapercopies.
B. Retention Schedule
Types RetentionPeriodMinutes PermanentRegisters PermanentReports/Annualreports PermanentBylaws/Charters PermanentIncorporateRecords PermanentAnnualbudgets PermanentAnnualaudits PermanentAnnualfinancialstatements PermanentSubjectcorrespondence PermanentManuals/handbooks PermanentNewspapers/newsletters PermanentBrochures/promotionalmaterials(1copy) PermanentPhotographs PermanentPropertyappraisals,recordsofsale 20yearsaftersaleArchitecturaldrawings,plats,plans,blueprints
Permanent
Wills,bequests PermanentLegal/judicialcaserecords PermanentLoanagreements Satisfaction+20yearsContracts Active+3yearsPersonnelrecords/employeerecords Employment+7yearsFICA/W2records 7yearsAccountspayableinvoices 3yearsAccountspayable 7yearsAccountsreceivablerecords 3yearsBankdepositslips 3yearsBankstatements 7yearsCanceledchecks 7yearsCashreceiptrecords 3yearsDataforupdatingmailinglists 1yearMailinglists ActivePeriodicfinancialstatements 2years
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Types RetentionPeriodExpensereports 7yearsGeneral/routinecorrespondence(acknowledgements,requests,travelarrangements,etc.
3years
Invitations 1yearPettycashrecords 7yearsReceiptsofpurchases 7yearsMeetingnotices 1yearTravelplans/arrangements 1yearResourcefiles Active
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Appendices
Appendix A: Responsibilities of Finance-Related Committees and Officers
StewardshipCommittee
TheStewardshipCommitteeshallordinarilybechairedbyaRulingElderservingontheSession.ItisgenerallyresponsibleforoverseeingallfundraisingactivitiesoftheChurch.Inparticular,andsubjecttotheguidanceandapprovaloftheSession,itisresponsiblefor:
Conductingtheannualstewardshipcampaign. Overseeingspecialofferingsandfundraisingcampaigns,includingcapitalcampaigns
asneeded,andincludingtheapprovaloftermsofsolicitationforsuchofferingsandcampaigns.
InteractingwithpotentialdonorswhoexpressinterestingivingtotheChurchbywayofwills,bequests,trusts,memorials,endowments,restrictedgifts,orotherformsofspecialgifts,followingChurchpolicyonacceptanceofgiftsandtheestablishmentofMemorialorEndowmentFunds.
AssistingintheappropriatecategorizationofgiftsasSessionDesignated,DonorRestrictedorUnrestricted.
FinanceCommittee
TheFinanceCommitteeshallordinarilybechairedbyaRulingElderservingontheSession.Itsresponsibilitiesshallinclude:
SupportingpreparationoftheannualoperatingbudgetanditspresentationtotheSessionforapproval.
MakingrecommendationstotheSessionregardingtheestablishmentordissolutionofFunds.
InconsultationwiththePastor,theidentificationofstafforcommitteechairswhohavebudgetand/orFundexpenditureauthority.
PreparationofspendingguidancetoChurchstaffand/orcommitteeshavingexpenditureauthorityoverbudgetlineitemsorFunds,anditspresentationtotheSessionforapproval.
MonitoringofbudgetexecutionandtransactionswithinFundaccounts,bringingvariancestotheattentionofresponsiblepartiesandtheSessionasneeded.
ReviewoffinancialreportsandevaluationofthefinancialconditionoftheChurch,includingitsFunds.
AdministeringtheFPCConflictofInterestPolicy(AppendixB). AdministeringandmaintainingthisFPCFinancialPoliciesManual Appointment,trainingandsupervisionofCounters,throughtheCounters
Coordinator.
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InvestmentCommittee
TheInvestmentCommitteeshallordinarilybechairedbyaRulingElderapprovedbytheSession.Itsresponsibilitiesinclude:
Identifyingandevaluatingpotentialinvestments. PresentingrecommendationstotheSession,consistentwiththeinvestmentpolicies
oftheChurch,withregardtoparticularinvestmentsforChurchfunds. MonitoringandreportingontheperformanceoftheChurch’sinvestmentsona
regularbasisorasrequestedbySession.
Treasurer
TheTreasurer: IselectedbyandreportstotheSession,andmustbeorhavebeenaRulingElder. IsanofficeroftheCorporation. IschargedwiththeresponsibilitiesandauthoritiessetforthintheChurchBylaws
atArt.5,Sec.5.2(D). PerformssuchotherdutiesasmaybeassignedbytheSession. ShallnotbeinvolvedinthecountingordepositingofChurchfunds. Isresponsiblefor:
o TherecordingofandaccountingforfundsandsecuritiesoftheChurchandthepreparationoftheannualbudgetandregularfinancialreportsconsistentwiththeChurch’sFinancialManagementPolicies.
o OverseeingthepreparationofchecksforpaymentandensuringthatallfundsdisbursedarewithintheChurch’sbudgetandlimitationsonFundexpenditures.
o Supervisingdailycashbalancestoensuresufficientfundsaremaintainedtocoverpaymentsandmakingrecommendationsastotheamountoffundsavailableforinvestment.
o Overseeingcountingprocedures.
OtherCorporateOfficers
InadditiontothefunctionsofCorporateOfficerssetforththeFPCBylaws,thefollowingOfficershavethefollowingauthorities:
PresidentandVicePresidentareauthorizedtosignchecksandwithdrawfundsfrombrokerageaccounts.
TheCorporateSecretaryhasauthoritytoopennewbankand/orbrokerageaccountswithSessionapproval.
TheCorporateSecretaryhasresponsibilityforopeningsealedbankstatementsandreviewingtransactions.
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FinancialReviewCommittee
TheFinancialReviewCommitteeshallordinarilybechairedbyaRulingElderapprovedbytheSession.MembersoftheCommitteeshallbeapprovedbytheSession.TheCommitteeshallincludemembersknowledgeableofaccountingprocedurestotheextentfeasible.ItisresponsibleforobservingtherequirementsofsectionG‐3.0113oftheBookofOrderandanyadditionalguidanceprovidedbytheSessionortheChurch’sFinancialManagementPolicy.
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Appendix B: Conflict of Interest Policy
ArticleI—Purpose
ThepurposeofthisConflictofInterestPolicyistoprotecttheinterestsofFirstPresbyterianChurchanditsMembersandotherdonors,againsttheadverseeffectsofactual,potentialorapparentconflictsofinterest(COIs)intheexecutionandadministrationofFPCcontracts,purchaseorders,giftagreementsandothercontractualtransactions.ThisPolicyisalsointendedtoinstillconfidenceinMembersandotherdonorsthattheirgiftsanddonationsaremanagedcompetently,ethically,andtransparently.ThisPolicyisintendedtosupplementbutnotreplaceorconflictwithanyapplicablestateorfederalconflictsofinterestlawsorregulationsapplicabletononprofit,religious,orcharitableorganizations.
ArticleII—Definitions
1.InterestedPerson
AnInterestedPersonisanyFPCemployee,Sessionmember,Elder,corporateofficer,Committeemember,oranyChurchvolunteerwhohasanactual,potentialorapparentFinancialInterestinaproposedorexistingFPCcontractualtransaction,asdefinedbelow.
2.FinancialInterest
ApersonhasFinancialInterestinanactualorproposedtransactionifheorshehas,directlyorindirectly,throughpersonalorfamilybusiness,investment,contractualorownershipinterests:
AnownershiporinvestmentinterestinanyentitywithwhichtheChurchhasaproposedorexistingcontractualtransactionorarrangement;
AcompensationarrangementwiththeChurchorwithanyentityorindividualwithwhichtheChurchhasacontractualarrangement;or
Apotentialownershiporinvestmentinterestin,orcompensationarrangementwith,anyentityorindividualwithwhichtheChurchisnegotiatingacontractualtransactionorarrangement.Compensationincludesdirectandindirectremunerationaswellasgiftsorfavorsthataresubstantial.
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3.SignificantConflictofInterest
ASignificantConflictofInterestisanactual,potentialorapparentCOIthat,inthesoledeterminationoftheSession,posesasignificantrisktotheChurchof:
Financialloss,overcharging,orunacceptableperformanceofacontractualagreement.
Embarrassment. Unlawfulexcessbenefit. Inurementtothebenefitofanyprivateindividual. Anyotherconsequencethatcouldjeopardizethetax‐exemptstatusofthechurch
orthetaxdeductibilityofdonationstothechurch.
ArticleIll—PoliciesandProcedures
1.Overview
NotallFinancialInterestsconstituteaConflictofInterest,andnotallConflictsofInterestarisetothelevelofaSignificantCOI.UnderSections2‐5below,anInterestedPersonbedeemedtohaveaSignificantCOIonlywhensodeterminedbytheSession.
2.DutytoDisclose
AnyInterestedPersonwhoisinapositiontoinfluence,implement,orparticipateinadecisiontoawardanFPCcontractualagreementhasadutytodiscloseanyactual,potentialorapparentCOItotheSessionoranauthorizedCommitteeresponsibleforinvestigatingthematter.
3.ExtentofDisclosure
AnInterestedPersonshalldisclosetheexistenceandnatureofhisorherFinancialInterestandshallbegiventheopportunitytodiscloseallothermaterialfactstotheSessionortothemembersofanyCommitteeauthorizedbytheSessiontoconsiderthematter.
4.DeterminingWhetheraSignificantConflictofInterestExists
Afterdisclosureofthefinancialinterestandallmaterialfacts,andafterdiscussionwiththeInterestedPerson,theSessionorCommitteeshalldiscussthematterintheabsenceoftheInterestedPerson,andshalldeterminewhetheraSignificantCOIisdeemedtoexist.ACommitteeauthorizedtoinvestigatethemattershallreportsitsdeterminationandaproposeddispositionofthemattertotheSession,andthedecisionoftheSessionshallbefinal.
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5.ProceduresforAddressingaSignificantConflictofInterest
IftheSessiondeterminesthatthereisnoSignificantCOI,thematterisclosedandthereshallbenoadverseconsequencetotheInterestedPersonforhavingdisclosedhisorherFinancialInterest.IftheSessiondeterminesthatthereisaSignificantCOI,itmay:
DirectthattheInterestedPersonhavenofurtherinvolvementinanydecisionregardingtheawardoradministrationofthecontractualtransaction;or
DirectthetakingofappropriatemeasurestoeliminateoradequatelymitigatetheCOI;or
Inexceptionalcircumstances,wherethevalueofthecontractualtransactionisdeemedtooutweighthepotentialadverseconsequencesofproceedingdespitetheSignificantCOI,allowtheInterestedPersontoremaininvolvedintheawardand/orimplementationofthecontractualtransaction.
6.Violations
Ifanyemployee,officer,Elder,SessionmemberorCommitteememberhasreasontobelievethataperson,whoisinapositionofinfluenceovertheawardoradministrationofacontractualtransaction,hasfailedtodiscloseanactual,potentialorpotentialapparentCOI,heorsheshallinformtheHeadofStaffofthebasisorsuchbelief,andtheSessionshallaffordtheaccusedpersonanopportunitytoexplaintheallegedfailure.If,afterconsideringtheresponseofapersonsoaccusedandaftermakingfurtherinvestigationaswarrantedbythecircumstances,theSessiondeterminesthattheaccusedpersonfailedtodiscloseanactualorpossibleconflictofinterest,theSessionshalltakeappropriatedisciplinaryandcorrectiveaction.
ArticleIV—RecordsofProceedings
TheminutesoftheSessionandanyCommitteewithSession‐delegatedauthoritytoinvestigateaCOImattershallcontain:
Thename(s)ofanypersonwhodisclosedorotherwisewasfoundtohaveaFinancialInterestinconnectionwithanactual,potentialorapparentconflictofinterest,thenatureoftheFinancialInterest,anyactiontodeterminewhetheraSignificantCOIwaspresent,andtheSession'sdecisionorCommittee'srecommendationastowhetheraSignificantCOIexisted.
Thenamesofthepersonswhowerepresentfordiscussionsandvotesrelatingtothecontractualtransaction,thecontentofthediscussion,includinganyalternativestotheproposedtransactionorarrangement,andarecordofanyvotestakeninconnectionwiththeproceedings.
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ArticleV—COIPoliciesandPracticesRegardingCompensation
WiththeexceptionoftheHeadofStaff,themembersoftheSessionshallnotreceivecompensationfortheirserviceasSessionmembers.However:
AvotingmemberoftheSessionorastaffemployeewhoreceivescompensation,directlyorindirectly,fromtheChurchforanyservicesisprecludedfromvotingonanyCOIdeterminationpertainingtothatperson’scompensationandshallexcludehimself/herselffromalldiscussionsandvotesregardingsuchcompensation.
AvotingmemberofanyCommitteewhosejurisdictionincludescompensationmatters,andmemberwhoreceivescompensationdirectlyorindirectlyfromtheChurchforanyservices,isprecludedfromvotingonmatterspertainingtothatmember'scompensationandshallexcludehimself/herselffromalldiscussionsandvotesonsuchcompensation.
NovotingmemberoftheSessionoraCommitteewhosejurisdictionincludescompensationmatters,orwhoreceivescompensation,directlyorindirectly,fromtheChurchforanyservices,isprohibitedfromprovidinginformationtotheSessionortoanyCommitteeregardinganymatters,includingthemember’scompensation.
ArticleVI—AnnualCOIStatements
EachSessionmember,principalOfficer,Committeemember,orothervolunteerhavingSessiondelegatedauthoritiesinvolvingpurchaseordersorothercontractualagreementsshallannuallysignastatement(seeForms)thataffirmsheorshe:
HasreceivedacopyoftheConflictofInterestpolicy. HasreadandunderstandsthePolicy. HasagreedtocomplywiththePolicy. UnderstandstheChurchisanonprofitcorporationandthat,inordertomaintain
itstax‐exemptstatus,itmustengageprimarilyinactivitiesdirectedtoitstax‐exemptpurposes.
VII—PeriodicReviews
ToensurethattheChurchoperatesinamannerconsistentwithcharitablepurposesanddoesnotengageinactivitiesthatcouldjeopardizeitstax‐exemptstatus,periodicreviewsshallbeconducted.Theperiodicreviewsshall,ataminimum,includethefollowingsubjects:
Whethercompensationarrangementsandbenefitsarereasonable,basedofcompetentsurveyinformation,andtheresultofarm'slengthbargaining;and
Whethercontracts,partnerships,jointventures,andothercontractualarrangementswiththirdpartiesconformtotheChurch'swrittenpoliciesandare:
o Properlyrecorded.
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o Reflectreasonableinvestmentdecisionsorpaymentsforgoodsandservices.
o Advancecharitablepurposesanddonotresultinprivateinurementoranexcessbenefittransaction.
ArticleVIII—UseofOutsideExperts
WhenconductingtheperiodicreviewsasprovidedinArticleVII,theChurchmay,butneednot,useoutsideexpertsasadvisors.Ifoutsideexpertsareused,theiruseshallnotrelievetheSessionofitsresponsibilityforensuringthatperiodicreviewsareconducted.
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Appendix C: Expense Reimbursement Plan
TheFirstPresbyterianChurchmaintainsthisfullyaccountableExpenseReimbursementplanforitspastors,employeesandvolunteers,inaccordancewiththerulesandregulationsoftheInternalRevenueService.Suchrulesandregulationsprovidethatanemployee“neednotreportonhis/hertaxreturn”expensespaidorincurredbytheemployeesolelyforthebenefitoftheChurch,andforwhichsuchemployeeisrequiredtoanddoesaccounttotheChurchandwhicharechargeddirectlyorindirectlytotheChurch.Accordingly,allproperty,goodsandservicespurchasedunderthisaccountableexpensereimbursementplanbelongtotheChurch,nottheindividual.InadditiontotherulesandregulationsoftheIRS,thefollowingrequirementsforexpensereimbursementapply:
a. AllmileageexpenseswillbereimbursedatthepublishedIRSrate.Documentationmustaccompanytherequestthatliststhetimeandplace,odometerreadings,identificationofbusinessandstatementofbusinesspurpose.Commutingmileswillnotbereimbursed.
b. Individualreceiptsarerequiredforreimbursementofexpenses.c. Requestsforreimbursementformealsorotherexpensesmustincludethe
businessrelationshipamongthepartiestosufficientlyexplainthebusinesspurposeandwhytheexpensewasincurredonbehalfofthechurch.GuidelinesfordeterminingreasonablemealexpensesshallgenerallyconformtoIRSperdiemrates.
d. Whennecessary,theChurchwillprovidecashadvancesforallowableandappropriatebusinessexpenses.Byacceptinganadvance,theminister,employee,orvolunteeragreestocomplywiththerequirementsofthisPlanandwilldocumenttheexpensesandreturnanyexcesspaymentswithin60days.
e. Requestsforreimbursementorcashadvanceswillbemadeonanexpensereport,signedbythepayee,approvedinthesamemannerrequiredforallchecksandsubmittedforpayment.Reimbursementrequestsmustbeapprovedbysomeoneotherthanthepayee.
f. Expenseswillbechargedtoaparticularprogramareathatisassociatedwiththereasonfortheexpense.Professionaldevelopmentexpenseswillbechargedtoanappropriatepersonnelaccount.
g. Requestsforreimbursementmustbemadewithin60daysoftheexpense.h. Originalreceiptsanddocumentationoftherequestforreimbursementwillbe
retainedbytheChurchtosubstantiatetheexpense.AsapplicableindividualsseekingreimbursementarerequiredtohavesignedandhaveonfileExpenseReimbursementPlanAcknowledgementform.
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Appendix D: Acceptable Ranges of Investment Categories in the Investment Portfolio
Equities(Stocks)
Therangeofequityinvestmentsshallordinarilyfallbetween40%and65%ofthetotalinvestmentportfolio.Aneutralrangeisbetween50‐60%.Withinequitiesthefollowingcategoriesshouldberepresented:
Largeandmegacapitalization(cap). Smallandmid‐caps. Foreign,includingemergingmarkets. REITs.
Intermsofcapitalization,astrongmajorityoftheequityinvestmentsshouldbeinlargeandmegacaps.Anormalrangeforthemwouldbe65‐80%oftotalequities.Thus,thenormalrangeforsmallandmid‐capswouldbe20‐35%.Inanotherbreakdown,domesticequityrangeshouldbe65‐85%oftotalequities,withforeignfallingbetween15and35%ofthetotalequityinvestment.InvestmentinREITsshouldgenerallybe5%orlessoftotalequityinvestment.
FixedIncome(Debt)Ranges
Fixedincomeinvestmentsshallfallbetween35%and60%ofthetotalinvestmentportfolio.Aneutralrangewouldbe40‐50%.Withinfixedincomethefollowingcategoriesshouldberepresented:
Investmentgrade. Below‐investmentgrade. Foreign,includingemergingmarkets. Duration:short,intermediateandlong.
Qualityrangesshouldbe70‐90%investmentgrade,relativetothetotalallocatedtofixedincomeinvestments.Thusbelow‐investmentgradefixedincomeinvestmentsshouldbebetween10%and30%.Arangeof70‐90%domesticdebtsecuritiesand10‐30%foreignshouldbemaintained.
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Asageneralruleanaveragebonddurationof4‐8years(intermediate)isadvisabletobalanceincomeandpricevolatilityfactors;however,therearetimeswhenashorteraveragedurationisadvisable.
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Appendix E: Cash Handling Policy
TheChurchreceivescashandchecksinitsSundayofferings,TGIFconcerts,socialevents,andChurchsales.AllChurchMemberswhohandlecashareinstructedonbasicinternalcontrolsrelatedtocashreceipts.Cashhandlersarealsoinstructedthattheyarerequiredtokeepallfinancialinformationconfidential.Offeringcountersareexpectedtosignthefollowingagreement.DetailedinstructionstoCountersconsistentwiththesepoliciesareprovidedbytheTreasurerwithapprovaloftheFinanceCommittee
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Appendix F: Special Purpose Fund Identification Documents
ASpecialPurposeFundIdentificationDocumentshallbecreatedforeachSpecialPurposeFundproposedforapprovalbytheSession.SeethemodeltemplateforaSpecialPurposeFundIdentificationDocumentsetforthbelow.
DocumentContents
TheSpecialPurposeFundIdentificationDocumentshallcontainallpertinentinformationregardingtheproposedSpecialPurposeFund,including:
TheproposednameoftheSpecialPurposeFund. TheaccountnumberoftheFund(assignedbytheTreasurer). ThepurposeoftheFund,specificallyincludinganydonor‐imposedrestrictions,
specialconditionsorinstructions;oranySession‐imposedrestrictionsregardinguseordurationoftheSpecialPurposeFund,carryoverofunusedfundstosubsequentyears,retentionofincomeearnedontheassetsintheFund,etc.
Theinitialleveloffundinganditssource(individualdonation(s);will,trust,charitableannuity,etc.;specialsolicitationandcollection;Sessionappropriationofunrestrictedfunds;orother).
Name(s)andcontactinformationforanydonor(s),unlessSpecialPurposeFundisbasedonaChurchsolicitationaccompaniedbygeneralmembershipcontributions.
TheidentificationandlocationofanypertinentGiftInstrument(donationagreement,Churchsolicitation,will,trust,etc.).
Anypertinentinformationonadonor,orthecircumstancesoftheformationoftheSpecialPurposeFund,thatmightassistfutureChurchrepresentativesinthemanagementoftheFund.
Proposedsourcesofsubsequentorcontinuingfunding,ifany. ThetypeofSpecialPurposeFund(TemporarilyRestricted,PermanentlyRestricted,
orUnrestricted(SessionDesignated)(seeDefinitions). TheCommitteeChairand/orFPCemployeehavingexpenditureauthorityover
SpecialPurposeFund. ThedateofapprovalbytheSession.
FundCreation
AdraftSpecialPurposeFundIdentificationDocumentshallbepreparedinconnectionwithaproposaltotheSessiontoapproveanewSpecialPurposeFund.TheapprovedDocumentshouldbereferencedinconnectionwithanysubsequentcontributionorappropriationofnewfundingtotheFund,oranyrequestforexpendituresfromtheSpecialPurposeFund.TheresponsibleFPCemployeeorcommitteechairisresponsibleforensuringthatthereisarecordofSessionapprovalordelegatedexpenditureauthoritytosupportaproposeddisbursement,andforensuringthatthecorrectaccountnumberisreferenced.
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ExistingFunds
ThetablebelowliststheSpecialPurposeFundCategories,CurrentlyActiveSpecialPurposeFunds,ResponsibleSignatories,andAccountNumbers.ThetypeofFundisindicatedbythefollowingabbreviations:
TR: TemporarilyRestricted PR: PermanentlyRestricted SD: SessionDesignated L: LiabilityAccount
Name ResponsibleSignatory Account Type Page
Music,ArtandWorship
OrganMaintenanceFund
MusicDirector 3310 TR 87
PianoPracticeFund MusicDirector 3315 TR 87ChancelBellsFund MusicDirector 3330 TR 88Recital(TGIF)Fund MusicDirector 3340 TR 88MusicDirectorEducationFund
Chair,Worship&MusicCommittee
3350 SD 89
MusicFund MusicDirector 3360 TR 89ChancelChoirFund MusicDirector 3325 TR 90BensonMusicMemorialFund
Chair,Worship&MusicCommittee
3320 TR 90
BackPewGalleryFund Chair,BackPewGalleryCommittee
3720 TR 91
Facilities/PhysicalPlant
BuildingReserveFund Chair,FacilitiesCommittee 3830.20 TR 92ColumbariumFund Chair,ColumbariumCommittee 3100 TR 93BuildingMaintenanceFund
Chair,FacilitiesCommittee 3151 TR 94
Continuedonnextpage
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Name ResponsibleSignatory Account Type Page
MissionandSocialJustice(M&SJ)
GeneralMissionFund Chair,M&SJCommittee 3610 TR 95CreationCareFund Chair,CreationCareCommittee 3620 TR 95RooftopGardenFund Chair,RooftopGarden
Committee3190 TR 96
PeopleinMissionFund Chair,M&SJCommittee 3630 TR 97CubaFund Chair,M&SJCommittee 3640 TR 98RestorativeJusticeFund Chair,M&SJCommittee 3650 TR 98MiscellaneousOtherCharities
Chair,M&SJCommittee,Treasurer
2220 L 99
Misc.EmergenciesOfferings
HeadofStaff 3095 L 100
JamesonBenevolenceMinistriesFund
Session(ClerkofSession) 3820.50 SD 100
BenevolenceFund Chair,BenevolenceCommittee 3660 TR 101
ChristianEducation(CE)
ChristianEdEquipmentFund
Chair,Children&YouthCommittee
3510 TR 102
YouthProgramFund Chair,Children&YouthCommittee
3520 TR 102
Children’sProgramFund
Chair,Children&YouthCommittee
3530 TR 103
AdultEducationFund Chair,AdultEdCommittee 3710 TR 103
ChildDevelopmentCenter
CDCSpecialProjectsFund
CDCDirector 3730 TR 104
CDCScholarshipReserveFund
CDCDirector 3820.60 TR 104
CDCCurrentScholarshipFund
CDCDirector 3735 TR 105
CongregationalCare
DeaconsFund Chair,Deacons 3740 TR 106CongregationalEmergencyAssistance
HeadofStaff 3140 TR 107
PrayerShawlFund Chair,PrayerShawlCommittee 3750 TR 107Continuedonnextpage
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Name ResponsibleSignatory Account Type Page
OtherFunds
MinistrySupportFund HeadofStaff 3120 TR 108PastorHousingFund Chair,PastorNominating
Committee3130 SD 108
PastorCEFund Pastor/PersonnelCommittee 3015 SD 108MemorialGiftsFund Session(ClerkofSession) 3180 SD 109GeneralReserveFund Chair,FinanceCommittee 3820.40 SD 110
PC(USA)Pass‐ThroughAccounts
OneGreatHourofSharing
Treasurer/ChairM&SJ 2211 L 111
PentecostOffering Treasurer/ChairM&SJ 2212 L 111Peace&GlobalWitnessOffering
Treasurer/ChairM&SJ 2213 L 112
Joy(Christmas)Offering Treasurer/ChairM&SJ 2214 L 113ThankOffering(PresbyterianWomen)
Treasurer,PresWomen 2215 L 114
SpecialPCUSA/PresbyteryCollections
Treasurer,ChairM&SJ 2218 L 115
ThisTablemaybeupdatedbytheOfficeManagerandClerkofSessionasnecessary,withoutSessionapproval,toreflectchangesresultingfromSessionactionsdulyrecordedinSessionminutes.Originalsourcedocuments,e.g.,Sessionminutes,giftagreements,orbequestsdocumentation,forallSpecialPurposeFundsinthisTablemaybefoundintheChurchbusinessfilesoronshareddocumentsonOneDrive.
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Appendix F-1: Special Purpose Funds Related to Worship and Music Program
OrganMaintenanceFund
AccountNumber3310TemporarilyRestrictedFund(TR)ADonorRestrictedFundestablishedin2007forthepurposeofmaintainingtheFiskOrgan.TheFundmayreceiverestrictedgiftsandbequests.TheFundisnottobeusedforbuildingmaintenanceitemssuchasfurnitureornon‐organrelatedequipment.However,theactualOrganmaintenancecostsaresharedwithotherfacilityfunds.Atleastonceeachyear,theOrganMaintenanceFundwillbeputbeforethecongregation(inthechurchnewsletter,inthebulletin,andwithaChurchinMinistryMomentinWorship)asanopportunityforgiving.Thestoryofhowtheorganwasbuiltandpaidforiscompelling,andpeopleshouldbeinvitedto"maintainthemiracle."FundisundertheauspicesoftheMusicandWorshipCommittee,withday‐to‐dayresponsibilitiescurrentlydelegatedtotheMusicDirector(withHeadofStaffapproval).Approved: 2007 Amended:
PianoPracticeFund
AccountNumber3315TemporarilyRestrictedFund(TR)ThisisaDonorRestrictedFundadministeredbytheWorshipandMusicCommitteeinconsultationwiththeDirectorofMusicwithintheguidelinesestablishedbytheSession.Donationsarereceivedfromthecongregation,outsidemusicgroupswhousethepianos,andpersonswhopracticeonthechurchinstruments.TheFundreceivesdonationsdesignatedforpianotuningandrepair.WithSessionapproval,atleastonceeachyear,thisFundwillbeputbeforethecongregation(inthechurchnewsletter,inthebulletin,andwithaChurchinMinistryMomentinWorship)asanopportunityfordirectedgiving.FundisundertheauspicesoftheMusicandWorshipCommittee,withday‐to‐dayresponsibilitiescurrentlydelegatedtotheMusicDirector(withHeadofStaffapproval). Approved: Amended:
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ChancelBellsFund
AccountNumber3330TemporarilyRestrictedFund(TR)ThisfundisaDonorRestrictedFundadministeredbytheWorshipandMusicCommitteeinconsultationwiththeDirectorofMusicwithintheguidelinesestablishedbytheSession.TheFundistobespentfornewbellequipment,bellrepairs,bellmusic,andmembershipfeesfortheAmericanGuildofEnglishHandbellRingers.ItreceiveshonorariageneratedbytheBellChoir,interest,andcontributions.WithSessionapproval,atleastonceeachyear,thisFundwillbeputbeforethecongregation(inthechurchnewsletter,inthebulletin,andwithaChurchinMinistryMomentinWorship)asanopportunityfordirectedgiving.FundisundertheauspicesoftheMusicandWorshipCommittee,withday‐to‐dayresponsibilitiescurrentlydelegatedtotheMusicDirector(withtheapprovaloftheHeadofStaff).Approved: Amended:
Recital(TGIF)Fund
AccountNumber3340TemporarilyRestrictedFund(TR)ThisisaDonorRestrictedFundthatisadministeredbytheWorshipandMusicCommitteeinconsultationwiththeDirectorofMusic(orpersonresponsibleforarrangingrecitalsandcommunityconcerts)withintheguidelinesestablishedbySession.ReportsonincomeandexpenditureswillbemadetoSessiononatleastanannualbasis.TheFundreceivesfree‐willofferingsfromTGIFandotherrecitalsaswellasgiftsfromindividualdonors.TheFundpaysexpensesrelatedtorecitalsandmaintenanceofinstrumentsusedintherecitals.Inaddition,itmaybeusedtooffsetexpensesconnectedwiththeuseofFirstPresbyterianChurchasacommunityconcertvenue.WithSessionapproval,atleastonceeachyear,thisFundwillbeputbeforethecongregation(inthechurchnewsletter,inthebulletin,andwithaChurchinMinistryMomentinWorship)asanopportunityfordirectedgiving.
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FundisundertheauspicesoftheMusicandWorshipCommittee,withday‐to‐dayresponsibilitiescurrentlydelegatedtotheMusicDirector(withtheapprovaloftheHeadofStaff).Approved: Amended:
MusicDirectorEducationFund
AccountNumber3350SessionDesignatedFund(SD)ThisSessionDesignatedFundwillbeadministeredbytheWorshipandMusicCommitteeinconsultationwiththeDirectorofMusicwithintheguidelinesestablishedbytheSession.TheFundisforcontinuingeducationexpensesoftheDirectorofMusicincludingbooks,musictravelandhousingexpensesandfeestoattendconferencesacademiesandworkshops.TheFundreceivesmoniesfromleftoverfromfundsdesignatedfortheMusicDirector’sContinuingEducationintheannualOperatingBudgetandfromcontributionsbytheDirectorofMusic.Thisrolloveramountisnottoexceed$2,000.FundisundertheauspicesoftheWorshipandMusicCommittee.Approved: Amended:
MusicFund
AccountNumber3360TemporarilyRestrictedFund(TR)ThisisaDonorRestrictedFundisadministeredbytheWorshipandMusicCommitteeinconsultationwiththeDirectorofMusicwithintheguidelinesestablishedbytheSession.ItisusedasaholdingaccountfordonationstothegeneralMusicProgram.WithSessionapproval,atleastonceeachyear,thisFundwillbeputbeforetheCongregation(inthechurchnewsletter,inthebulletin,andwithaChurchinMinistryMomentinWorship)asanopportunityfordirectedgiving.FundisundertheauspicesoftheMusicandWorshipCommittee,withday‐to‐dayresponsibilitiescurrentlydelegatedtotheMusicDirector(withtheapprovaloftheHeadofStaff).Approved: Amended:
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ChancelChoirFund
AccountNumber3325TemporarilyRestrictedFundThisisaDonorRestrictedFundusedtocoverspecialexpensesrelatedtotheChancelChoir(sheetmusic,scholarshipsforchoirtrips,andotherspecialprojectsoractivities).FundisundertheauspicesoftheMusicandWorshipCommittee,withday‐to‐dayresponsibilitiescurrentlydelegatedtotheMusicDirector(withtheapprovaloftheHeadofStaff).Approved: Amended:
BensonMusicMemorialFund
AccountNumber3320SessionDesignated(SD)TheElizabethandArnoldBensonMusicMemorialFundbeganasaDonorRestrictedFund.Thesourcedocuments,includingtheletterofRev.JamesD.BrowndatedOctober17,1984,whichwascountersignedbythedonorWhitneyAnnWoodworth,providedthattheFundcouldbedissolvedintheeventitwasnotusedoveranytwoconsecutiveyears.ThelastactivitywasinAugustof2012.InAugust2016,theSessiondissolvedtheFundandthendesignatedtheremainingmoneyasaSessionDesignatedFundtobeusedforsupportoftheFPCmusicprogram.TheFundsupportstheadultmusicprogramoftheChurchandisadministeredbytheWorshipandMusicCommitteeinconsultationwiththeDirectorofMusic,withinguidelinesestablishedbytheSession.FundisundertheauspicesoftheMusicandWorshipCommitteeinconsultationwiththeMusicDirector.Approved: October17,1984 Amended: August17,2016
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BackPewGalleryFund
AccountNumber:3720TemporarilyRestrictedFund(TR)TheBackPewGalleryservestoexhibitartproducedbyMembersandfriendsoftheChurch,whilefacilitatingsalesofartfromartiststopurchasers.TheFundmayreceivevoluntarycontributionsfromartists,assuggestedintheArtistSalesAgreement.ContributionstotheFundfromothersarealsoaccepted.TheFundmaybeusedtocoveroperatingexpensesoftheBackPewGalleryorotherFPCpurposes,asdeterminedbytheBackPewGalleryCommittee.FundisundertheauspicesoftheBackPewGalleryCommittee.Approved: September17,2004 Amended:
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Appendix F-2: Special Purpose Funds Related to Facilities/Physical Plant
BuildingReserveFund
AccountNumber3830.20TemporarilyRestrictedFund(TR)ThisisafundcreatedbytheSessionspecificallyforthemaintenanceandup‐keepoftheFirstPresbyterianChurchbuildingat208GrantAvenueasagreedbytheCongregationonAugust27,2006.ThesourceoffundswasfundsremainingfromtheCapitalFundthatsupportedtherenovationofthesanctuaryandtheconstructionofthe3‐storyoffice/educational/fellowshiphallbuilding.InessencethisFundisabuildingmaintenancereserveforthefuturesupportofmaintenance,repairandrenovationrequirements.ItmaybenecessarytoaddresourcestothisfundviatheannualChurchbudgetorbymembercontributionsasprojectedrequirementsincreaseinfutureyears.TheprojectedrequirementsforanyincreaseinthisFundshouldbesupportedbyanestimatedevelopedbytheFacilitiesCommitteeandapprovedbySessionduringtheannualbudgetdevelopmentprocess.TheassetsoftheBuildingReserveFundareinvestedasdeterminedbytheInvestmentCommitteeandtheSession.IncomeisaccruedtotheFund.TheBuildingReserveFundisintendedformaintenanceandrepairsnecessarytokeeptheChurchbuildingingoodrepairandfreeofdefects.Typicalexamplesare:
a. Majorrepairandmaintenance.1. Replacementorrepairofroofoneitherofthetwobuildings.2. Repairofstuccoonbuildings.3. Repairofsidewalks,basementfloor,andrampintogarage.4. Repairofelevator.5. Replacementofgaragegate.
b. Minorrepairandmaintenance.1. PurchasestoreplaceitemsintheHVACsystemsuchasmotors,filters,manualor
electronicswitchesorcontrolunits.2. Repairorupgradestoemergencysecuritysystem.3. Repairorupgradestofire,elevator,a/v,dooransweringorrescueassistance
alarms.4. Repairofgaragegateorminorrepairofelevator.5. Unbudgetedrepairoffurniture,paintingjobs.
FundsforroutinemaintenanceoftheChurchbuildingwillbeincludedintheannualoperatingbudgetofthechurch.Routinemaintenanceincludesdailycustodialservices,
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landscapingservices,purchaseofcleaningsupplies,lightbulbsandballasts,itemsfortherepairoffurnitureandequipment.ThisFundisnotintendedformaintenanceoftheorgan,whichiscoveredbyaseparateFund,andisnotintendedforthepurchaseoffurnitureorportableequipment.Atleastonceeachyear,theBuildingReserveFundwillbeputbeforethecongregation(intheChurchnewsletter,inthebulletin,andwithaChurchinMinistryMomentinWorship)asanopportunityforgiving.Thestoryofhowthebuildingwasbuiltandpaidforiscompelling,andpeopleshouldbeinvitedto"maintainthemiracle."FundisundertheauspicesoftheFacilitiesCommittee.Approved: Amended:
ColumbariumFund
AccountNumber3100TemporarilyRestrictedFund(TR)ThisDonorRestrictedFundistheresultofadonationbyVirginiaandPhilipFisher,asdescribedbythememorandumsofCharlieStringfellow,datedApril14andMay10,2011.ThisRestrictedFundisintendedtopayfortheconstructionandmaintenanceofcolumbarium(s)toprovideinurnmentofcrematedremainsasstipulatedintheColumbariumPolicy.TheColumbariumCommitteewillmanagetheoperationofthecolumbarium.AllmoniesreceivedfromthepurchaseoftherighttoinurnmentwillbedepositedtotheFund.ColumbariumCommitteeauthorizationshallberequiredforanydisbursementofmoniestocoveroperatingexpenses,orforcompletionofdesignand/orconstructionbeyondphasesoneandtwo.TheintentoftheColumbariumCommitteeisthat20%ofthemoniesreceivedeachyearshallberetainedtocoveroperatingexpensesoftheColumbarium.Theremaining80%willbeusedasneededforcompletionofthecontinueddesignandconstructionoftheColumbarium,orifnotneededmaybereleasedbytheCommitteeforgeneralChurchoperatingexpenses.ByJune30ofeachcalendaryear,theColumbariumCommitteewilldeterminetheamountoffundsthatcanbeusedforprojectsorpurposesdesignatedbytheSession.However,when75%oftheavailablespaceshavebeenpurchased,moniesfromallsubsequentsalesshallberetaineduntilanadequateamountisavailableforthecostofpurchasingandinstallinganadditionalColumbariumphase.Moniesmayalsobereceivedfromthepurchaseofspaces/nichesinthenewunitbeforeitisbuilt.
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Inadditiontosalesproceeds,contributionstotheFundmaybeaccepted.TheCommitteemayretainsuchcontributionsorreleasethemforChurchpurposesasdesignatedbytheSession.
FundisundertheauspicesoftheColumbariumCommittee.Approved: Amended:
BuildingMaintenanceFund
AccountNumber3151TemporarilyRestrictedFund(TR)ThisFundcollectscontributionsdonatedtosupportcostsofgeneralpurchase,repairandmaintenanceofChurchfacilities,equipmentandfurnishings.Donationsforspecificpurposeswithinthiscategorywillbeacceptedandhonored.ThisFundmaybeusedtocovercostsofroutinerepairsormaintenancethatarenotcoveredbytheBuildingReserveFund,aswellascoststhatcouldbecoveredbytheBuildingReserveFund.Inthecaseofthelatter,thisFundwillordinarilybeusedbeforeturningtotheBuildingReserveFund.FundisundertheauspicesoftheFacilitiesCommittee.Approved: February18,2015 Amended:
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Appendix F-3: Special Purpose Funds Related to Mission and Social Justice
GeneralMissionFund
AccountNumber3610TemporarilyRestrictedFund(TR)ThisDonorRestrictedFundwasformerlynamedPeaceandJusticeandisnownamedtheGeneralMissionFund.ThePC(USA)accountsnolongertransfermoniestothisFund;insteadthePC(USA)accountsarehandledbytheTreasurerinconsultationwiththeChairoftheMissionandSocialJustice.The25%thatneedstobedistributedlocallyispaiddirectlyoutofthePeaceandGlobalWitnessOfferingFund,AccountNumber2210.ThepurposeoftheGeneralMissionFundistosupportprogrammaticmissionactivitiesoftheChurch,including,forexample,thefundingoflocalcharities,allocationsofstart‐upfundingforspecialmissionprojects,andthesupportofPresbyteryorPC(USA)nationalorinternationalactivities.TheprimarysourceofmoneyforthisFundconsistsofdonationsearmarkedforMission.FundisundertheauspicesoftheMissionandSocialJusticeCommittee.Approved: Amended:
CreationCareFund
AccountNumber3620TemporarilyRestrictedFund(TR)ThisFundoriginatedfromaspecialcalledmeeting(October28,2007)oftheCongregation,whichwastohearthereportoftheSecondCapitalCampaignMissionComponentCommitteeandapprovetheremainingtwoprojectsformissionfunding.TheCongregationactedtodesignate$37,500toCaringforGod’sCreationthroughproviding$18,000toHabitatforHumanitytoprovide“green”plans,materialandequipmentforonehouse;$1,500forEducationalCurriculummaterialstobegintheeducationalprocessinFPC;and$18,000toprovidearoof‐topgardenonthechurch’seducationandadministrationbuildingtogivechildrenandadultshands‐onexperiencewithCreationCareskillsandmethodologies.TheCreationCareFundwasinitiallycreatedbytheSessionin2008withfundsavailablefromtheMissioncomponentoftheSecondCapitalCampaign,inparticularfundsremaining
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afterthecreationoftheRooftopGarden.ItspurposeistoactasaresourcetoandeducatemembersofFPCandthecommunityonissuesofenvironmentalsustainabilityandresponsiblefoodproductionandconsumption.Italsopromotesenvironmentalawarenessintheareasofworship,education,outreachandfacilitymanagementactivities.TheFundiscurrentlyusedtocovercostsofannualmembershipduesofthePC(USA)EarthCareCongregationsNetwork.ItalsocoversduesofNMPowerandLight,alocalnetworkofNMfaith‐basedenvironmentaladvocacygroupsthatispartofalargernationalorganizationknownasInterfaithPowerandLight,whichpromotesenergyconservationandefficiencyeffortsamongfaith‐basedorganizations,alongwithotherenvironmentalawarenessprogramsrelatedtorenewableenergy,globalwarming,andenvironmentalstewardshipingeneral.TheFundisalsoavailabletosupporttheRooftopGardenFundasneeded.TheFundacceptsgiftsfromFPCMembersandothers,andwithSessionapprovalsolicitsgrants.TheFundisundertheauspicesoftheCreationCareCommittee,whichshallreportFundtransactionstotheMissionandSocialJusticeCommitteeinatimelymanner.Approved: Amended:
RooftopGardenFund
AccountNumber3190TemporarilyRestrictedFund(TR)TheRooftopGardenFundwasinitiallycreatedin2007withfundsavailablefromtheMissioncomponentoftheSecondCapitalCampaign(seeminutesofCongregationalmeetingofOct.28,2009).ItsupportsthemaintenanceofaRooftopgardenduringthesummermonths.TheRooftopgardenhasconvertedwhatwouldotherwisebearelativelyutilitarianrooftopareatoaquietandattractivegardenpatiolocatedhighabovestreetlevel.Itspurposeistogivechildrenandadultshands‐onexperiencewithCreationCareskillsandmethodologies.ItalsoservestoenrichtheworshipservicesheldontheroofduringthesummermonthsandprovidesanattractiveoutdoorspacefortheCDCchildrentoeatlunchandforsmallgroupstomeetoutdoors.Ithasalsobeenusedforspecialevents,includingaweddingandaCDCkindergartengraduation.TheFundissustainedbyoccasionalfundingfromtheCreationCareCommitteeaswellasgiftsthatcoverthecostsofplantmaterials,plantingsoil,andirrigationandplanterboxsupplies.
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TheFundisundertheauspicesoftheRooftopGardenCommittee,whichshallreportFundtransactionstotheMissionandSocialJusticeCommitteeinatimelymanner.Approved: Amended:
PeopleinMissionFund
AccountNumber3630TemporarilyRestrictedFund(TR)ThePeopleinMissionFundprovidesameansbywhichourmissionprogramscaninteractivelysharewithothersandtheywithusthegospelofChristintheworldonaonetoonebasis,emphasizinginspirationbytheHolySpirit.Activitiesareintendedtoraisetheconsciousnessofthecongregationthroughalongtermprogramthatwillfostereducationandexperienceinworldwidemission.ThePeopleinMissionFundwasestablishedtosupportglobalmissionactivitiesofFirstPresbyterianChurchofSantaFethrough:
1. Supportofchurchmemberswhowishtoexpandunderstandingofothers,doworkprojectsorvolunteerinmission;or,shorttermfraternalworkersengagedinactivitiesintheUSorglobally.Upontheirreturntheyinterprettheirrespectiveexperiencestofurthereducateandinvolvethecongregation.
2. Supportofrepresentativesofthenationalandinternationalchurchtovisitour
communitytoshareaboutthework,experienceandchallengesintheirhomesituation.
WithSessionapproval,atleastonceeachyear,thisFundwillbeputbeforetheCongregation(intheChurchnewsletter,inthebulletin,andwithaChurchinMinistryMomentinWorship)asanopportunityfordirectedgiving.FundisundertheauspicesoftheMissionandSocialJusticeCommittee,whichmaintainsguidelinesandapplicationformsforprospectiveparticipants.Approved: Amended:
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CubaFund
AccountNumber3640TemporarilyRestrictedFund(TR)ThisFundisaDonorRestrictedFundforthepurposesupportingtheSynodofCubaandFPC’ssisterchurch,SaguaLaGrandeChurch.AnannualSpecialOfferingforCubaistaken,usuallyinthespring.ThroughapriorunderstandingwiththeSynodofCubaandthePresbyteryofSantaFe,theofferingwillbedividedequallybetweentheSynodofCubaandFPC’ssisterchurchinSagualaGrande.FundsaretobesentthroughthePresbyteryofSantaFe.FirstPresbyterianChurchinSantaFewillnotdesignatehowthesefundsareusedinCuba.WithSessionapproval,atleastonceeachyear,thisFundwillbeputbeforethecongregation(inthechurchnewsletter,inthebulletin,andwithaChurchinMinistryMomentinWorship)asanopportunityfordirectedgiving.FundisundertheauspicesoftheMissionandSocialJusticeCommittee.Approved: October15,2014 Amended:
RestorativeJusticeFund
AccountNumber3650TemporarilyRestrictedFund(TR)ThisisaDonorRestrictedFunddedicatedtoprovidingfinancialassistancetoincarceratedindividuals,orindividualsrecentlyreleasedfromincarceration,andtheirfamilies.ThepurposeofthisFundistomeetbasicneeds.Normally,suchneedsare:
Food. Lodging. Clothing. Medicaltreatment. Transportationtoorfromaplaceofemployment. Funeralexpenses. Initialevaluationandprofessionalcounselingappointments.
Needsthatmaynotbemetinclude:
Privateschoolfeesortuition,businessinvestments,oranythingthatisintendedtogenerateincometotheindividualorfamily.
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Payingoffcreditcarddebt(exceptionmaybemadewhenanindividualhashadtouseacreditcardinacrisisoremergency).
Legalexpenses. Finesorpenaltiesrelatingtolatepaymentsorirresponsibleactions.
Financialassistanceforcounselingwillbeconsideredifitisdeterminedthatcounselingwoulddirectlyenabletheindividualtoaddressacurrentfinancialsituation.Inmostcases,thisislimitedtoaninitialcounselingappointment.Underspecialcircumstances,additionalassistancemaybegiven.ThisFundisundertheauspicesoftheMissionandSocialJusticeCommittee,whichisresponsiblefortheidentificationandselectionofprospectiverecipients.Approved: March18,2015 Amended:
MiscellaneousOtherCharities
AccountNumber2220LiabilityFund(L)ThisisaDonorRestrictedFundestablishedtoreceiveofferingsanddonationsdesignatedforlocalcharitiessuchasFoodforSantaFeorHabitatforHumanity,byspecialofferingsofthecongregationaswellasindividualdonations.FundsapprovedbyPC(USA)orFPC(seeTable5)areacceptedautomatically;otherdonationswillbereviewedbeforeacceptance.Fundsaredisbursedinatimelymannertothedesignatedlocalcharity.ThisisaliabilityaccountmaintainedundertheauspicesoftheMissionandSocialJusticeCommitteeandtheTreasurer.Approved: Amended:
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Miscellaneous(Emergency)OfferingsFund
AccountNumber3095LiabilityAccount(L)AFundforcollectingspecialofferingsapprovedbySessionfordisastersandsimilaremergencies.FundsshallbecollectedinthisFunduntilexpendedforthepurpose.ExamplesincludetheLosConchosFirein2012,theGhostRanchFloodingin2014orworld‐widedisasterssuchasearthquakesandtsunamis.FundisundertheauspicesoftheHeadofStaffandtheTreasurer.Approved: Amended:
JamesonBenevolentMinistriesFund
AccountNumber3820.50SessionDesignatedFund(SD)ThefollowinghistoryistakenfromtheAdministrationCommitteeReport(May1,2011),andemailexchangeswithintheAdministrationCommitteeandwithconsultationofKenBatemanoftheAdHoccommitteesetuptoinvestigatethestatusoftheJamesonTrust.
“InApril1999,FrancesJamesoncreatedafamilytrust(CenturyTrust)withacharitableremaindertrusttobeadministeredforthebenevolentpurposesofseveralPresbyterianentities.Followingthedeathofthefamilyannuitant,theTrustee,CenturyTrust,continuedtoadministerthetrustforthecharitablebeneficiaries.In2010,theTrusteedeclinedtocontinuemanagementofthetrustaccount.Theremainingtrustassetsweredividedamongthethreebeneficiary‐churchesremovingtheinitialtrustlimitationsasabenevolentprogramstrust.FPCSFreceivedadistributionintheamountof$139,036.85.AfteraccountingfortheyearlypaymenttoFPC,theremainingbalanceof$121,536.85wasdepositedintheCovenantTrustFund(CTF)for"futuredistributionandbudgetdeficitmanagement,"pertheactionofSession[Jan20,2010].
Duringthe2011budgetingprocess,Sessionapprovedthecontinuedallocationofthe$17,206fromtheTrust.However,afterreconsiderationoftheoriginaltrustdocumentsandcommunicationswithCenturyTrust,Sessiondeterminedthatinthefuturethetrustshouldbeadministeredinlinewiththedistributionplanassetforthinthosedocuments.Thus,Sessionclassified$121,536.85(plusanyaccruinginterestandmarketvalue)asthe'InitialValue"oftheFund.Afixedamountof$5,000
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insteadofthe5%notedintheInitialJamesonTrustDocument,willbedistributedeachyearfromthefund,withtheproceedsusedforthebenevolentministriesofthechurch.”
PertheAdministrationCommittee’srecommendationofMay1,2011,onMay18,2011,theSessionapprovedthemotiontoincludetheJamesonBenevolentFundintheRestrictedFundsdocument,withSessiondirectionthatfutureusebelimitedto$5000peryearforinclusionintheChurch’sannualbudgetforbenevolentpurposes,unlessanduntilsubsequentSessionactiondirectsotherconsiderationsand/ordisbursements.FundisundertheauspicesoftheSession(ClerkofSession).PrincipalisheldininvestmentsandincomeaccruestotheFund.Approved: Amended:
BenevolenceFund
AccountNumber3660TemporarilyRestrictedFund(TR)ThisisaDonorRestrictedFundthatsupportsbenevolentfinancialassistancetoindividualsandfamiliesinneedintheSantaFeareawhoarenotMembersoftheChurch.(AssistancetoMembersoftheChurchissupportedprimarilybythePastor’sdiscretionaryaccountandtheCongregationalEmergencyAssistanceFund,althoughfundsmaybedisbursedfromtheBenevolenceFundforthispurposeifsuchothersourcesareinsufficient).TheFundacceptsdonationsfromMembersandfriends,andspecialofferingsasauthorizedbytheSession.TheFundisundertheauspicesoftheBenevolenceCommittee,whichconsistsofthePastor,arepresentativeoftheMissionandSocialJusticeCommittee,andanordainedDeaconandanordainedElderappointedbytheSession.GuidanceonuseoftheFundissetforthintheBenevolencePolicy(SectionVIII).Approved: Amended:
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Appendix F-4: Special Purpose Funds Related to Christian Education
ChristianEducation(CE)EquipmentFund
AccountNumber3510TemporarilyRestrictedFund(TR)ADonorRestrictedFundtowhichcontributionsandfundsfromworkprojectswerecollectedforthespecificpurposeofpurchasingequipmentfortheChristianEducationprogramoftheChurch.UponexhaustionofthisFunditwillbeclosed.FundisundertheauspicesoftheChristianEducationCommittee.Approved: Amended:
YouthProgramFund
AccountNumber3520TemporarilyRestrictedFund(TR)ThisisaDonorRestrictedFundformerlynamedEcumens,tobespentonFPCYouthprogramsandactivitiesintheChurchandcommunity.FundisundertheauspicesoftheChristianEducationCommittee.Approved: Amended:
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Children’sProgramFund
AccountNumber3530TemporarilyRestrictedFund(TR)ThisisaDonorRestrictedFundformerlynamedtheAfterSchoolDaycareFund,tobespentonFPCChildren’sprogramsandactivitiesintheChurchandcommunity.ThisFundwasoriginallysupportedbyyardsalesandotherindividualdonationstotheFund.ItfundedactivitiessuchastheFridayAfternoonClub,Parents’NightOut,andSummerArtCamp.ThisFundisundertheauspicesoftheChristianEducationCommittee.Approved: Amended:
AdultEducationFund
AccountNumber3710TemporarilyRestrictedFund(TR)ThisDonorRestrictedFundisfundedbydonationsforadulteducation.TheFundsupportsadulteducationeventsforadultsandfamilies,whicharenotfundedbytheOperatingBudgetoftheAdultEducationCommittee.FundisundertheauspicesoftheAdultEducationCommittee.Approved: Amended:
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Appendix F-5: Special Purpose Funds Related to Child Development Center (CDC)
ChildDevelopmentCenter(CDC)SpecialProjectsFund
AccountNumber:3730TemporarilyRestrictedFund(TR)ThisFundiscomprisedofallmoneyraisedbytheCDCthroughtheirfundraisingefforts,exceptforfundsraisedforscholarships.FundisundertheauspicesoftheCDCAdvisoryCommittee,withday‐to‐dayresponsibilitiescurrentlydelegatedtotheCDCDirector(withtheapprovaloftheHeadofStaff).Approved: December17,2014 Amended:
ChildDevelopmentCenter(CDC)ScholarshipReserveFund
AccountNumber:3820.60TemporarilyRestrictedFund(TR)AtacongregationalmeetingonApril25,2004,theCongregationdeterminedthat$80,000fromtheCapitalCampaignbeallocatedtoWeekdayChildren’sOutreachwhichsubsequentlybecametheCDC.OnMay18,2011,SessionestablishedaseparateaccountforCDCscholarshipsintheamountof$80,000anddirectedthatincomeearnedonthataccountbeaccruedforCDCscholarship.Further,Sessiondirectedthatbeginninginfiscalyear2012incomeandprincipalintheamountof$3,000peryearbewithdrawnandusedforscholarships.FundisundertheauspicesoftheCDCAdvisoryCommittee,withday‐to‐dayresponsibilitiescurrentlydelegatedtotheCDCDirector(withtheapprovaloftheHeadofStaff).Approved: Amended:
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ChildDevelopmentCenter(CDC)CurrentScholarshipFund
AccountNumber:3735TemporarilyRestrictedFund(TR)ThefundcollectscontributionstosupportscholarshipsforCDC.ThisfundisusedbeforeturningtotheCDCScholarshipReserveFund.FundisundertheauspicesoftheCDCAdvisoryCommittee,withday‐to‐dayresponsibilitiescurrentlydelegatedtotheCDCDirector(withtheapprovaloftheHeadofStaff).Approved: Amended:
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Appendix F-6: Special Purpose Funds Related to Congregational Care
DeaconsFund
AccountNumber3740TemporarilyRestrictedFund(TR)TheDeaconsFundsupplementsanybudgetedlineitemaccountfortheDeacons.TheDeaconsFundisforthepurposeofsupportingnon‐financialassistancetoMembersandtheirfamiliesintimesofneed.(FinancialassistancetoMembersinneedisavailableunderthePastor’sdiscretionaryaccount,abudgetlineitem;orfromtheCongregationalEmergencyAssistanceFund.)TheDeaconsFundcollectscontributionstosupporttheDeacons’missionofcaringforMembersandtheirfamiliesduringtimesofcrisis,includingvisitingtheillandprovidingthemwithmealsandtransportation,providingflowersformemorialsservices,griefcounseling,andotherlaypastoralservices.ContributionstotheFundareacceptedfromfamiliesofdeceasedtohelpoffsetcostsofmemorialservices.OthersourcesoffundsareperiodicsoupsalesandgeneralcontributionsfromMembersandfriends.TheDeaconsFundisusedto:
Purchasekitchensupplies. Replacekitchenequipment. Purchasefoodforsoupandmealpreparation. Offsetcostsofkitchencustodialservices. Reimbursedeaconsandothermembersforpurchasesoffoodandsuppliesforthe
deacons,transportationtovisittheill,etc. Supportotherchurchministriesrelatedtocongregationalcare.
DisbursementsfromtheFundareauthorizedbytheChairoftheDeacons. Approved: Amended:
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CongregationalEmergencyAssistanceFund
AccountNumber3140TemporarilyRestrictedFund(TR)EstablishedbytheSessiononMarch18,1998,astheEmergencyAssistanceReliefFundasaDonorRestrictedFund.ItistobeusedforfinancialemergenciesofMembersoftheChurchortheirfamilymembersresultingfromuninsured,unanticipatedmedicalcosts,specialeducationneedsorotherfinancialemergencies.TheHeadofStaffmayauthorizeupto$1,000whenthetimingoftheassistanceisurgent.Non‐urgentdistributionsandalldisbursementsgreaterthan$1,000shallbemadeonlybyactionoftheHeadofStaff,theChairoftheDeacons,andtheClerkofSession,whoshalljointlydetermineneedandauthorizedisbursementoffundsasappropriate.TheHeadofStaffshallreportassistanceactivitiesannuallyandconfidentiallytotheSession.Suchreportshallincludethenumberofpersonsserved,typeofserviceandamountexpended.PersonallyidentifiableinformationshallbereportedtotheSessiononlyuponitsrequest,andonlyinaconfidentialexecutivesessionoftheSession.Otherwise,suchinformationshallbemaintainedinconfidencebytheHeadofStaff.TheFundacceptsdonationsatanytime.FundisundertheauspicesoftheHeadofStaff.Approved: Amended:
PrayerShawlFund
AccountNumber3750TemporarilyRestrictedFund(TR)FundisundertheauspicesofthePrayerShawlCommittee.ItspurposetoknitshawlsfordonationtoMembersandfriendsintimesofneed,grief,orjoy.FundsareacceptedbydonationsfromprayershawlrecipientsandMembersoftheCongregation.FundsareusedtopurchaseyarnandsuppliesfortheCommittee.Approved: March18,1998 Amended:
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Appendix F-7: Special Purpose Funds Related to Other Fund Activities
MinistrySupportFund
AccountNumber3120TemporarilyRestrictedFund(TR) FormerlynamedthePastoralCareFund.ADonorRestrictedFundtosupportthePastorintheministrytothecongregation.Theministrymayincludesupportforanassociatepastororcostsforspecialministerialprogramsforthecongregation’sbenefit.FundisundertheauspicesoftheHeadofStaffwithreportstotheSession.Approved: Amended:
PastorHousingFund
AccountNumber3130SessionDesignatedFund(SD)FormerlynamedtheManseFund.ASessionDesignatedfundestablishedbythesellingoftheChurch‐ownedmansetoassistministersinthefuturewiththepurchaseofahome.DistributionsfromandmanagementoftheFundwillbemadeasrecommendedbythePastorNominatingCommitteewithfinalapprovalbyacalledmeetingoftheFPCcongregation.AssistancemaybeintheformofaninterestbearingloantobepaidbackintotheFundonaregularbasis.FundisundertheauspicesofthePastorNominatingCommitteeandtheTreasurer.Approved: Amended:
PastorContinuingEducationFund
AccountNumber3015SessionDesignatedFund(SD)ASessionrestrictedfundestablishedaspartofthePastor’scallaspartofthePastor’ssalarypackage.TheamountisdictatedbyPC(USA)forclergy.TheFundisforcontinuing
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educationopportunitiesasdevelopedbythePastorduringtheyear.PerPC(USA)directivestheFundistobecarriedoverforamaximumof3years.FundisundertheauspicesofPastorandPersonnelCommittee.Endofyear:Fundscarryoverfor3yearsonarollingbasis.UpontheretirementorotherdepartureofaPastor,moneyremainingintheFundisreleasedtotheGeneralFund.Approved: Amended:
MemorialGiftsFund
AccountNumber3180SessionDesignatedFund(SD)ThisisaSessionDesignatedFundthatprovidesfamilymembers,friends,andmembersofthecongregationawaytomakecontributionstoFirstPresbyterianChurch(FPC)inmemoryandhonorofadeceasedlovedone.SuchcontributionsaredepositedintheMemorialFundunlessotherwiserestrictedbythedonor.ThisFundmaybeusedforpurposesapprovedbytheSession.AcknowledgmentstothedonorandfamilyaretheresponsibilityoftheTreasurerandtheClerkofSession.TheStewardshipCommitteeprovidesoversightoftheFundandreviewsrequests,forwardingrecommendationstoSessionforthefinaldecisionaboutdistribution.ChurchcommitteesandstaffmaymakerequeststotheStewardshipCommitteeforaspecificprojectorcongregationalneedthatisnon‐operationalinnature.FundisundertheauspicesoftheSessionandtheClerkofSession.Approved: Amended:
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GeneralReserveFund
AccountNumber3820.40SessionDesignatedFund(SD)TheGeneralReserveFundincludesunrestrictedassetssetasidebytheSession.Itisheldinaninvestmentaccount.FundisundertheauspicesoftheSession.Approved: Amended:
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Appendix F-8: PC(USA) Offering Accounts
OneGreatHourofSharing
AccountNumber2211LiabilityAccount(L)MostcongregationsreceiveOneGreatHourofSharingonEasterSunday,Passion/PalmSundayorboth,whilemanyreceiveitthroughoutLent.MoniesfromOneGreatHourofSharingannualofferingshallbecollectedinthisaccountuntildisbursedtoMissionTreasuryofthePresbyteryofSantaFefornationaluse.InaccordancewithFSAS136,FPCtreatsthedonationsasrevenue.FPCthenimmediatelyexpensestheamountbycreatingapayableinthisliabilityaccount.AgifttoOneGreatHourofSharingenablestheChurchtoshareGod’slovewithourneighbors‐in‐needaroundtheworldbyprovidingrelieftothoseaffectedbynaturaldisasters,providingfoodtothehungry,andhelpingtoempowerthepoorandoppressed.ThefourChurch‐wideSpecialOfferingsofthePresbyterianChurch(U.S.A.)areacollectivewitnesstoJesusChrist'sloveforthewholechurch.TheChristmasJoyOffering,OneGreatHourofSharing,PentecostOfferingandPeace&GlobalWitnessOfferingplayanimportantroleindefiningwhatitmeanstobeaconnectionalchurch.OvertheyearstheseofferingshaveprovidedwaysforindividualsandcongregationstojointogetherwitheachotherandinpartnershipwithotherChristiansinrespondingtoavarietyofconcerns.FundisundertheauspicesoftheMissionandJusticeCommitteeandtheTreasurer.Fundsarepaidoutpromptly.Approved: Amended:
PentecostOffering
AccountNumber2212LiabilityAccount(L)ThePentecostOfferingistraditionallyreceivedonthedayofPentecost.MoniesfromtheannualPentecost(Witness)Offeringshallbekeptinthisaccountuntil60%hasbeendisbursedtotheMissionTreasuryServiceofthePresbyteryofSantaFe.Theremainingportion(40%)isretainedforlocalmissionactivities.TheMissionandSocialJustice
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Committeedeterminesthelocalmissionactivity.InaccordancewithFSAS136,FPCtreatsthedonationsasrevenue.FPCthenimmediatelyexpensesthefullamountbycreatingapayableinthisliabilityaccountforboththe60%andthe40%untilbothportionsarepaidinfull.
CurrentlyagifttothePentecostOfferinghelpstheChurchencourage,develop,andsupportitsyoungpeople,andalsoaddresstheneedsofat‐riskchildren.40%ofthePentecostofferingcanberetainedbyindividualcongregationswantingtomakeanimpactinthelivesofyoungpeoplewithintheirowncommunity.Theremaining60%isusedtosupportministriesofthePresbyterianMissionAgency(InformationfromGAWebsite2016).
ThefourChurch‐wideSpecialOfferingsofthePresbyterianChurch(U.S.A.)areacollectivewitnesstoJesusChrist'sloveforthewholechurch.TheChristmasJoyOffering,OneGreatHourofSharing,PentecostOfferingandPeace&GlobalWitnessOfferingplayanimportantroleindefiningwhatitmeanstobeaconnectionalchurch.OvertheyearstheseofferingshaveprovidedwaysforindividualsandcongregationstojointogetherwitheachotherandinpartnershipwithotherChristiansinrespondingtoavarietyofconcerns.
FundisundertheauspicesoftheMissionandJusticeCommitteeandtheTreasurer.Allfundsarepaidoutpromptly.Approved: Amended:
PeaceandGlobalWitnessOffering
AccountNumber2210LiabilityAccount(L)ThisofferingiscollectedinOctober.MoniesfromtheannualPeaceandGlobalWitnessOfferingshallbekeptinthisaccountuntil75%isdisbursedtotheMissionTreasuryServiceofthePresbyteryofSantaFe.PC(USA)policypermitstheChurchtoretain25%oftheofferingforlocalmissionactivities.TheMissionandSocialJusticeCommitteedeterminesthelocalmissionactivities.InaccordancewithFSAS136,FPCtreatsthedonationsasrevenue.FPCthenimmediatelyexpensesthefullamountbycreatingapayableinthisliabilityaccountforboththe75%andthe25%untilbothportionsarepaidinfull.TheformerPeacemakingOfferinghasbeentransformedintothePeace&GlobalWitnessOffering.ThisnewOfferinghasagreaterglobalreach,amoresignificantimpact,andbringspeacetopeoplethroughChrist.
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ThePeaceandGlobalWitnessOfferingisreceivedduringtheOctoberSeasonofPeace,whichendsonWorldCommunionSunday.AgifttothePeace&GlobalWitnessOfferingenablesthechurchtopromotethePeaceofChristbyaddressingsystemsofinjusticeacrosstheworld.Individualcongregationsareencouragedtoutilizeupto25%ofthisOfferingtosustaintheirlocalpeacemakingministries(InformationfromGAWebsite2016).
ThefourChurch‐wideSpecialOfferingsofthePresbyterianChurch(U.S.A.)areacollectivewitnesstoJesusChrist'sloveforthewholechurch.TheChristmasJoyOffering,OneGreatHourofSharing,PentecostOfferingandPeace&GlobalWitnessOfferingplayanimportantroleindefiningwhatitmeanstobeaconnectionalchurch.OvertheyearstheseofferingshaveprovidedwaysforindividualsandcongregationstojointogetherwitheachotherandinpartnershipwithotherChristiansinrespondingtoavarietyofconcerns.FundisundertheauspicesoftheMissionandSocialJusticeCommitteeandtheTreasurer.Allfundsarepaidoutpromptly.Approved: Amended:
JoyOffering
AccountNumber2210LiabilityAccount(L)TheJoyOfferingistraditionallyreceivedduringtheChristmas/AdventSeason.MoniesfromJoyOfferingshallbecollectedinthisaccountuntildisbursedtoMissionTreasuryServiceofthePresbyteryofSantaFefornationaluse.InaccordancewithFSAS136,FPCtreatsthedonationsasrevenue.FPCthenimmediatelyexpensestheamountbycreatingapayableinthisliabilityaccount.
AgifttotheJoyOfferinghelpsprovidefinancialassistancetocurrentandformerchurchworkersandtheirfamiliesandalsoenablesdeservingstudentstoattendPresbyterian‐relatedracialethniccollegesandschools,suchasMenaulSchoolinAlbuquerque(InformationfromGAWebsite2016).
ThefourChurch‐wideSpecialOfferingsofthePresbyterianChurch(U.S.A.)areacollectivewitnesstoJesusChrist'sloveforthewholechurch.TheChristmasJoyOffering,OneGreatHourofSharing,PentecostOfferingandPeace&GlobalWitnessOfferingplayanimportantroleindefiningwhatitmeanstobeaconnectionalchurch.Overtheyearstheseofferings
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haveprovidedwaysforindividualsandcongregationstojointogetherwitheachotherandinpartnershipwithotherChristiansinrespondingtoavarietyofconcerns.FundisundertheauspicesoftheMissionandSocialJusticeCommitteeandtheTreasurer.Allfundsarepaidoutpromptly.Approved: Amended:
ThankOffering(PresbyterianWomen)Fund
AccountNumber2210LiabilityAccount(L)PresbyterianWomen(PW)isanindependentorganizationwithinPC(USA)ofmorethan300,000women.Theprogrammingandresourceoptionsofferwomenavarietyofwaystoliveouttheirfaithinaninclusive,caringcommunity.PWgroupscanchoosetosupportthePWpurposeinanyway,soPWgroupsmaylookverydifferentfromonesynodtothenext,orevenonecircletothenextwithinthesamecongregation.Theofferingiscollectedannuallyinthefall.Itfundsprojectssuchasagriculturaldevelopment,childcare,communityorganization,criminaljustice,drugcounseling,economicjustice,elderlycare,employmenttraining,homelessness,literacy,violenceandwomen’sconcerns.Atleast40%supportshealthministriesthroughtheworld.Theremaining60%supportsnewcreativeideasformission.InaccordancewithFSAS136,FPCtreatsthedonationsasrevenue.FPCthenimmediatelyexpensestheamountbycreatingapayableinthisliabilityaccount.ThisFundisundertheauspicesoftheTreasurerandtheTreasureroftheFPCPresbyterianWomen.Allfundsarepaidoutpromptly.Approved: Amended:
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PC(USA)/PresbyterySpecialCollections
AccountNumber2218LiabilityAccount(L)Fromtimetotime,thePC(USA)orthePresbyteryofSantaFewillaskchurchestohaveaspecialcollection,usuallyfordisasterreliefinsomepartoftheregion,nationorworld.MoniesdonatedforsuchcausesshallbecollectedinthisaccountuntildisbursedbytheMissionTreasuryofthePresbyteryofSantaFe.InaccordancewithFSAS136,FPCtreatsthedonationsasrevenue.FPCthenimmediatelyexpensestheamountbycreatingapayableinthisliabilityaccount.ThisFundisundertheauspicesoftheTreasurerandMissionandSocialJustice.Allfundsarepaidoutpromptly.Approved: Amended:
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Forms
Formsareameanstoexecutethepoliciesestablishedinthisdocument.TheymaybechangedwithoutSessionapproval.Neworrevisedformswillbeincludedinthissectionasnecessary.
FPC Special Purpose Fund Identification Document Template
NameofSpecialPurposeFund:AccountNumber:Purpose:Initialfundinglevel:Initialsourceoffunding:Name(s)andcontactinformationondonor(s),ifany:IdentificationandlocationofpertinentGiftInstrumentorChurchSolicitation:OtherpertinentinformationonsourceorcircumstancesofthecreationoftheSpecialPurposeFund:Proposedsourcesofsubsequentorcontinuingfunding,ifany:TypeofSpecialPurposeFund(TemporarilyRestricted,PermanentlyRestricted,orUnrestricted(SessionDesignated):ResponsibleFPCemployeeorCommitteehavingexpenditureauthority:DateofSessionapproval: ClerkofSession: Date:
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FPC Agreement for Offering Counters
I,____________________________________________,herebyagreeasfollows:
Ihaveread,understandandwillcomplywithChurchpoliciesandproceduresregardingcountingofcollections;
Iwillkeepconfidentialanyandallinformationaboutindividuals’giving,towhichIamexposedasaCounterofcollections;
IwillnotshareordisclosetoothersMemberfinancialinformationoramountsdonatedtotheChurch,exceptingonlyauthorizedChurchfinancialpersonnelhavinganeedforaccesstosuchinformation;
Iwillmakenodisbursementsfrompre‐depositcashcollections; Iwillensurethatallcollectionsarepromptlysecuredinthesafeordepositedinthe
bank;and IwillnotshareordisclosethecombinationoftheChurchsafetoanyotherperson.
AsanFPCCounter,Iwillberesponsibleforensuringthatcollectionsareaccuratelyandcompletelycounted,balancedandreportedtoauthorizedfinancialpersonnel.PrintedName: Signature: Date
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FPC Check Requisition
Pleaseissuethefollowingcheck:DATENEEDED: Vendor# PAYEENAME: ADDRESS: Explanationoncheckvoucher: Remarks: ChargetoAccount#: AccountName: Amount Total $CommitteeChair/ManagerApproval: Signature DateOfficeroftheCorporation/PastorApproval Signature Date__Mailchecktopayee __Putcheckinmybox__Holdcheckforpickup
Rev.1/25/10
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FPC Income Distribution Worksheet
Depositfundsto:Account#andName: DateCounted: Description Amount Quantity TotalCoin $Currency Ones 1.00 $Twos 2.00 $Fives 5.00 $Tens 10.00 $Twenties 20.00 $Fifties 50.00 $Hundreds 100.00 $Other $
CoinandCurrencySubtotal $ChecksSubtotal(makecopiesofALLchecks) $
TOTAL $Countedby: PrintedName/SignatureCountedby: PrintedName/SignatureAdditionalInformation:
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FPC Conflict of Interest Disclosure Statement
ThisConflictofInterestDisclosureStatementisintendedtoensurethatmembersoftheSession,Staff,Officers,CommitteeMembersandanyotherpersonhavingauthoritydelegatedbytheSessiontoinfluence,makeorimplementdecisionsregardingtheexecutionoradministrationofcontractualtransactions,complywiththeConflictofInterestPolicyoftheFirstPresbyterianChurchofSantaFe.Instructions:Pleasereadthecertificationbelowandmarkan"X"inthespacebeforeeitherItemAorItemB,whicheverisappropriate.IfyoumarkItemB,pleaseprovidetheinformationrequested.Pleasethenprintyourname,signanddatethisStatement,andreturnthisformtotheClerkoftheSession.Certification:IhavereceivedacopyoftheConflictofInterestPolicy,havereadandunderstandthePolicy,andIagreetocomplywiththePolicy.IunderstandthattheFirstPresbyterianChurchofSantaFeisanonprofitcorporationandthat,inordertomaintainitstax‐exemptstatus,itmustengageprimarilyinactivitiesthataccomplishoneormoreofitstax‐exemptpurposes.[] A.Iamnotawareofanyrelationship,FinancialInterest,oractualorprospectivecontractualagreementinvolvingmyselforanyfamilymemberoranyotherpersontowhomIamrelated,andanyotherindividualororganization,non‐profitorotherwise,whichconstitutesormayconstituteinanactual,potentialorapparentconflictinterestwithrespecttomyresponsibilitiesasanEmployeeorMemberoftheFirstPresbyterianChurchofSantaFe.[] B.Thefollowingrelationships,FinancialInterests,oractualorprospectivecontractualagreementsinvolvingmyself,afamilymember,orotherindividualtowhomIamrelated,withotherindividualsororganization,whethernonprofitorotherwise,mayconstituteormightresultinanactual,potentialorapparentconflictofinterestwithmyresponsibilitiesasaMembertheFirstPresbyterianChurchofSantaFe.
Financial(contracts,partnerships,contractualagreements,andinvestments):_________________________________________________________________________________________________________________________________________________For‐profitdirectorships,positions,andemployment:_________________________________________________________________________________________________________________________________________________
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Nonprofitdirectorships,positions,andemployment:__________________________________________________________________________________________________________________________________________________Other:_________________________________________________________________________
IwillpromptlynotifytheHeadofStaffoftheFirstPresbyterianChurchofSantaFeofanymaterialchangeinmyrelationships,FinancialInterests,ortransactionsthatwouldconstituteormightresultinanyactual,apparent,orpotentialconflictofinterestwithregardtomyresponsibilitiesasaMemberoremployeeofFirstPresbyterianChurchofSantaFe. Name(Print) Signature Date:
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Expense Reimbursement Plan Acknowledgement
IhavereceivedacopyoftheChurch’sFullyAccountableReimbursementPlanandunderstandthatitprovidesguidelinesandsummaryinformationabouttheChurch’sreimbursementpolicy,proceduresandrulesofconduct.Iunderstandthatitismyresponsibilitytomaintainadequateandaccuraterecordsandforwardallsupportingexpensereports,receiptsanddocumentationtotheChurch. Name(Print) Signature Date
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Tables
Tables1through4providecurrentnamesororganizationsassociatedwithpositionsorfunctionsdescribedinthisdocument.TheymaybeupdatedbytheOfficeManageruponnotificationbytheClerkofSessionfollowingaSessionaction.Table5maybeupdatedbytheOfficeManageruponnotificationbytheChairoftheMissionandSocialJusticeCommittee.
Table 1 - Committee Chair Positions
Thefollowingtableliststhecommitteechairpositionshavingauthoritytoacceptcontributionsto,andinitiateexpendituresfrom,SpecialPurposeFundstotheextentauthorizedinspecialfundidentificationdocuments:
Committee ChairAdultEducation VacantBackPewGallery CarolFallisChildDevelopmentCenterandAdvisory JaneStringfellowChildrenandYouthCE JanisGonzalesColumbarium JennyVellingaCreationCare MaryAnnLundyDeacons MaryBlack/SharonEklundFacilities JohnWhitcombFinance DennisSandersonInvestment DennisSandersonMissionandSocialJustice KarenFinneyPastorNominating (CommitteeInactive)Personnel SharonEklundPrayerShawlMinistry GayHill/BettyKerstingRooftopGarden JuliaHudsonSession(ClerkofSession) JudiHainesStewardship VacantWorshipandMusic JeannieBowman
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Table 2 - Officer/Staff/Volunteer Positions
Thefollowingtableliststheofficer/staff/volunteerleadershippositionsreferredthroughoutthisdocument.
Table 3 – Check Signatories
Thefollowingpersonsareauthorizedtosignchecks:
Position NameTreasurer GaleWrightVicePresident MargaretLyerlyPresident BillEklund
Table 4 – Vendors
ThistablelistscurrentFPCvendorsreferredtothroughoutthisdocument.
ServiceorFunction NameofVendororContractor
Payrollprocessor PayChexITServiceContractor SundanceNetworks,LLCEFT/CreditCardProcessor(online) VancoEFT/CreditCardProcessor(inpersonsales) SquareAccountingsystem QuickBooksMembership&donationssystem ChurchWindowsBankCheckingandSavingsAccounts LosAlamosNationalBankCertificatesofDeposit BankofAmericaInvestmentAccounts Fidelity
Position NamePastor/HeadofStaff HarryEbertsMusicDirector LindaRaneyOfficeManager KristaPetersonFacilitiesManager BillAdrianCDCDirector AnneLileyPresident BillEklundVicePresident MargaretLyerlyTreasurer GaleWrightClerkofSession/CorporateSecretary JudiHainesBookkeeper MariaRomero(Contractor)CountersCoordinator BettyKersting
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Table 5 – Third Party Charities
ThefollowingisalistofthecurrentlyapprovedthirdpartycharitiesassupportedbyFPC:
AliceKingCenterBorderLinksBoysandGirlsClubs,DelNorteCoalitionforPrisoners’RightsCommunityFarmEnvisionSantaFeEsperanzaShelterforBatteredFamiliesFeedingSantaFeFoodDepotGhostRanchGirlsInc.ofSantaFeHabitatforHumanityHEPACInterfaithCommunityShelterInterfaithWorkers’JusticeNMLaFamiliaMedicalCenterLutheranAdvocacyMinistryNMMenaulSchoolNeedandDeedNewMexicanstoPreventGunViolence NoMoreDeathsPastoralCounselingCenterSantaFePublicSchoolsAdelanteProgram/JuntosLosJuevesSolaceCrisisTreatmentCenterSomosunPuebloUnidoSouthsideSoccerClubSt.ElizabethShelter