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C2-5 Investing Surplus and Reserve Funds

Page history last edited by Bonnyville Baptist Church 5 years, 10 months ago

 

DATE:

May 18, 2011

Finance - Policies

REFERENCE

    C2-5

REVIEWED/

REVISED:

 

Investing Surplus & Reserve Funds

Approved By

Admin Team

 

 

SECTION ONE:  PURPOSE

 

To ensure that any investing of surplus funds or funds being held in reserve are handled in such a way as to safeguard the financial resources God has given us.

 

 

SECTION TWO:  POLICY

 

Funds that are not immediately needed may be put into CDIC insured investments, 50% of which must be in cashable form with the other 50% in short to mid-term investments not to exceed 3 years unless such investments are cashable.

 

 

SECTION THREE:  PROCEDURES

 

  1. Funds not immediately needed will be transferred to savings by the Administrator/bookkeeper.

 

  1. In the event reserves are being built up for a large project, i.e. building project, funds will be regularly transferred to short to mid-term investments as determined by the Administration Team.

 

 

 

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