Harvest Baptist Temple Fund Management Policy
- Purpose
This policy establishes guidelines for the receipt, management, disbursement, and accountability of funds at Harvest Baptist Temple to ensure financial integrity, stewardship, and compliance with legal and ethical standards.
- Scope
This policy applies to all church funds, including general tithes and offerings, designated gifts, special project donations, and restricted funds. It governs church leadership, staff, volunteers, and any committees handling church finances.
3. Fund Categories
- General Fund: Used for church operations, ministry expenses, salaries, and utilities.
- Designated Funds: Donor-specified contributions for specific ministries or projects.
- Restricted Funds: Funds with legal or donor-imposed restrictions that cannot be redirected without proper authorization.
- Emergency Reserve Fund: Maintained for unforeseen financial needs or crises.
- Receiving and Handling Funds
- All contributions should be recorded and deposited promptly by designated personnel.
- Offerings should be collected, counted, and recorded by at least two unrelated individuals.
- Online and electronic giving must be processed securely, with proper documentation maintained.
- Donor confidentiality should be upheld, and personal giving records should not be disclosed publicly.
- Disbursement of Funds
- All expenses must align with the church’s mission and budget.
- Payments require approval from the finance team, treasurer, or church leadership.
- Checks should be signed by at least two authorized individuals.
- Personal reimbursements require receipts and prior approval.
- Budgeting and Financial Oversight
- The church shall operate under an annual budget approved by leadership.
- Monthly financial reports should be reviewed by the finance committee or church board.
- Regular audits or financial reviews should be conducted for accountability.
- Designated and Restricted Funds Management
- Designated funds must be used for their intended purpose unless the donor agrees to a reallocation.
- Restricted funds cannot be redirected without proper legal and ethical considerations.
- If a designated project is completed or no longer feasible, funds may be reallocated with proper approval.
- Conflict of Interest
- Church leaders and staff must disclose any financial conflicts of interest.
- No personal loans or financial gifts should be given to individuals from church funds.
- Church funds should not be used for personal gain or non-ministry-related activities.
- Record Keeping and Reporting
- All financial records must be maintained for a minimum of 7 years.
- Annual giving statements should be provided to donors for tax purposes.
- Financial transparency should be practiced, with summarized reports available to church members.
- Policy Review and Amendments
- This policy shall be reviewed annually by the finance committee or governing body.
- Amendments must be approved by church leadership before implementation.
By adopting this policy, Harvest Baptist Temple commits to honoring God through faithful stewardship, financial transparency, and responsible fund management.
Jim Powell, Treasurer