OVERVIEW

The mandate of the Financial Board is to:

assess vulnerabilities affecting the financial system and identify and oversee action needed to address them;
coordination and exchange of information among members responsible for financial management of the church.
monitor and advise on financial independency of member churches.
monitor and advise on best practices of financial reporting.
undertake joint strategic financial policy development that work according to their location and members lifestyle.
focus on priorities and addressing the financial transparency to the body before it become a problem.
setting an international standard of responsibilities in financial reporting to the general council. addressing gaps;
set guidelines for new planted church, new affiliates and new members about financial support that they expect from the general council.
to establish, educate and train group of financial auditors.
manage contingency planning for all financially troubled church/es, in and out of the country.
collaborate with the mission department to conduct report of the physical stability of the church/es.

As obligations of membership, church administrator/s, must commit to pursue the maintenance of financial stability, maintain the openness and transparency of the finances of the church, implementation of financial obligation of districts and local churches to the general council, and agree to undergo periodic peer reviews, physical or non physical auditing, using the set standard of financial assessment approved by the board of trustees of the general council.

The Financial Board will be working through its members, in strengthening their financial systems, base on established policy on finance. If it is necessary to make changes in our policy, it will be communicated to every administrators or superintendents before it will be enacted.

The Financial Board will meet two times a year and has calls as needed. To broaden the reporting and transparency of the organization, the Financial Board is engaged, that the financial reporting be published in our website with restriction to access only by authorize financial authorities.