Article 27 - Finance Board

Article 27 - Finance Board

ARTICLE 27

FINANCE BOARD


27.1 ESTABLISHMENT


There shall be a nine-member Finance Board which shall be appointed by the Executive Council with the approval of the General Council


27.1.1 MEMBERSHIP


(a) A Chairman
(

b) One(l) Apostle


(c) One (1) Pastor


(d) One (1) Accountant


(e) One (1) Banker


(f) The Finance and Administration Director


(g) Two (2) Area Deacons


(h) One (1) Trustee


The Finance Manager and the Internal Auditor, the Missions Accountant and all other Trustees shall be co-opted members.
27.2. FUNCTIONS


(a)To administer the Central Fund of The Church.


(b)To prepare and submit an annual Budget to the General Council


(c)To encourage tithing and the spirit of Christian giving


(d) To promote sound methods of raising Church fund


(e) To ensure that an effective audit system is maintained at
the Head Office and other branch offices of The Church;
e.g. Area, Zonal and District offices


(f) To ensure timely internal audit of the General Accounts
of The Church including those of the Headquarters, the
Area, District and Zonal offices


(g) To undertake monthly appraisal of Budget performance
of the departmental heads and the Finance and Administration Director


(h) To review the Budget performance quarterly


(i) To submit to the Executive Council the Audit Reports and action taken thereon, the Balance Sheets and Accounts for each financial year


(j) To invest funds of The Church with the prior approval of the Executive Council.


27.2.1 TERM OF OFFICE


The term of office is four (4) years and may be reviewed for further terms.