Example Policies & Templates

The Ministry Area of [insert name]

Terms of Reference for Finance Sub-Committee

Membership of the Finance Sub-Committee

← Swipe to see all columns →

The above roles and representations are provided as a guide only, please modify this list as appropriate.

A. Constitution

1. The committee to act on behalf of the Ministry Area Council (MAC).
2. Membership of the committee to be agreed/appointed by the MAC.
3. The Committee to comprise the Ministry Area Treasurer, all Church Treasurers and any additional members of the MAC, appointed for their financial skills/knowledge.
4. The Committee to meet [insert agreed frequency], but more frequently if required. Other than at meetings, communications and decisions may also be made remotely, provided that all members have the opportunity to participate and that they are properly recorded.

B. Terms of Reference

The Committee shall be responsible for:

1. Providing financial recommendation and good financial stewardship advice to the MAC.
2. Agreeing and monitoring the allocation of ministry share throughout the Ministry Area.
3. Providing annual accounts for: consideration by the Ministry Area Easter Vestry, submission to the Charities Commission and the Representative Body.
4. Ensuring that good practice is adhered to in the management of finances throughout the Ministry Area (e.g. by maintaining a currency in financial legislation).
5. In conjunction with the MAC, develop and initiate strategies for fundraising, (e.g. Gift Direct recruitment, digital giving facilities), for the sustainability of the Ministry Area.
6. Management of Financial Projects in conjunction with and as required by the MAC (e.g. set up of My Fund Accounting Software).
7. Liaising and working with Diocesan Staff and Officers on matters of Ministry Area Finance and financial projects.
8. Reporting to the MAC/Trustee Body, at each of its meetings.

N.B. This list may vary depending on the needs of the MA and requirements of the MAC.

C. Review Date

These Terms of Reference to be reviewed every [insert period] years from the last review date.

Example Legacy Policy

At St Agatha's, we welcome all gifts in wills, however large or small and we promise to use your gift to make a difference to our parish. Our MA Legacy Policy is to use gifts to help fund significant development projects, whether buildings, equipment or staff.

Since needs change over the years, we encourage you to leave a gift in your will for the general purposes of the parish rather than for a restricted purpose. We will discuss possible uses of your gift with your executors when the time comes, bearing in mind your known areas of interest in the church (e.g. music, buildings, children and youth, overseas mission or aid) and the church's priorities at the time.

You can be confident that your gift will be used to make a real difference to our future mission and ministry.

We acknowledge gifts in whatever way the donor and/or his/her executors feel most appropriate to. Equally, we can make sure that gifts remain anonymous if the donor prefers.

If you would like to talk to someone in confidence about the sorts of purposes your gift might fund, and how/if you would like your gift to be acknowledged, please contact Jenny Price our Churchwarden on 01686 453 289 or email info@stagatha.org.uk

If you would like to make a gift to our church in memoriam, please come and discuss this with us too. It can be a wonderful and appropriate way to remember a loved one.

Legacy Policy Template

Here at _______________________________ we welcome all gifts in wills, however large or small, and we promise to use your gift to make a difference in our parish.

Our MA Legacy Policy is to __________________________________________________________________

_________________________________________________________________________________________

Since needs change over the years, we encourage you to leave a gift in your will for the general purposes of the parish rather than for a restricted purpose. We will discuss possible uses of your gift with your executors when the time comes, bearing in mind your known areas of interest in the church (e.g. music, buildings, children and youth, overseas mission or aid) and the church's priorities at the time.

You can be confident that your gift will be used to make a real difference to _______________________

_________________________________________________________________________________________

We will acknowledge gifts in whatever way the donor and/or his/her executors feel most appropriate to. Equally, we can make sure that gifts remain anonymous if the donor prefers.

If you would like to talk to someone in confidence about the sorts of purposes your gift might fund, and how/if you would like your gift to be acknowledged, please contact _________________________ on __________________

If you would like to make a gift to our church in memory of a loved one, please do come and discuss this with us too.

Policy 1

Ministry Area A has 2 large churches in a reasonably affluent area. The annual income is about £240,000 which includes £15,000 from a hall. One church employs two part time members of staff at a total cost of £25k p.a. The condition of the buildings is generally good. Quinquennial inspections are due next year. The MA currently has general reserves of £80,000.

The MAC discussed the following factors in arriving at their reserves policy:

• Money should only be kept in reserve for specific reasons – whilst the Bible clearly indicates that we should not hoard it is also clear that sensible planning for known events and responsibly for others (including employees) is important.
• A wish to have two months running costs in cash reserves in case of a major problem (£40k)
• In addition to have a further month's salaries in reserves (£4k)
• The quinquennials are not expected to reveal any major works, but minor ones are likely to need doing and it would be prudent to allow for this now (£10k)
• A major ecumenical local mission is planned for next year and MA is likely to be heavily involved in this. They wish to allocate some funds now to this project although at this stage it is unclear what form the mission will take. They will review this later in the year when the project becomes clearer.
• There was a general wish that more should be spent on outreach to the community.

Policy:

It is the policy of the MAC to hold in reserves the equivalent of two months general running costs and an additional one month's salary costs. It is also our policy to hold an amount for likely building works at the next quinquennial inspection. In view of the forthcoming mission next year we have allocated £10,000 to reserves to cover our involvement. This policy will be reviewed in twelve month's time apart from the mission project element which will be reviewed in six months time when the situation is clearer.

The MAC believe that, at present, we have £16,000 in reserves above what is required and will consider how these funds might be used for local mission and outreach.

Policy 2

Ministry Area B is a group of churches in small towns and rural settings with an annual joint income of around £100,000. Of this about £25,000 comes from three halls. One focal church building is Victorian and little recent work has been done on it. There has just been a quinquennial report indicating that urgent work is needed to the building costing around £25,000. The church has reserves of £30,000.

The MAC discussed the following factors in arriving at their reserves policy:

• Money should only be kept in reserve for specific reasons – whilst the Bible clearly indicates that we should not hoard it is also clear that sensible planning for known events and responsibly for others is important.
• The MAC's main concern at present is the forthcoming building works for the Victorian Church which could potentially use most of their reserves. It was agreed to allocate £20k of the reserves to the building works and fund raise for the rest. It was also agreed that an annual amount of £5k should be added to the reserves from next year to cover future building costs within the MA.
• There was concern about the reliance on the church hall income and a feeling that two months income should be kept in the reserves in case the halls got into financial difficulties (£4k).
• It was felt appropriate to keep two months general running costs in reserve (£20k)

Policy:

It is the policy of this church to keep two months running costs and two months hall income in reserve to cover unforeseen emergencies. In view of the state of the building the MAC will also add £5k to reserves each year to cover work due at quinquennial inspections. In view of the present necessary work the reserves will be reduced to £10k this year and it is our aim to increase them next year to the desired level. This policy will be reviewed in twelve months' time.