IPHC Church Manual - Extension Loan Fund
IPHC Church Manual - Extension Loan Fund
IPHC Church Manual - Extension Loan Fund
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Bylaws<br />
Article V. Financial Guidelines<br />
3) The Finance Committee shall allocate available<br />
income to the funds, divisions, departments,<br />
ministries, and other entities at the General level.<br />
The income to be allocated shall consist of the<br />
following amounts received from the Conferences<br />
by the General Treasury:<br />
a) The General portion of all Clergy Tithes<br />
b) The General portion of all <strong>Church</strong> Tithes<br />
4) The Finance Committee shall set the compensation<br />
packages of all Global Ministry Center personnel.<br />
5) Any appeal of budgetary decisions shall be decided<br />
by a majority vote of the Council of Bishops.<br />
6) Any additional personnel positions at the Global<br />
Ministry Center must be approved in advance by<br />
the Finance Committee.<br />
7) The Finance Committee shall set aside a reserve<br />
for emergency purposes.<br />
8) The Finance Committee shall recommend to the<br />
Council of Bishops for final approval the<br />
expenditure of all excess, unbudgeted funds.<br />
2. Other General-Level Provisions<br />
a. All churchwide appeals for financial support must be<br />
approved by the Council of Bishops.<br />
b. The financial records and financial statements of each<br />
General-level corporate entity of the International<br />
Pentecostal Holiness <strong>Church</strong> and the International<br />
Pentecostal Holiness <strong>Church</strong>, Inc., shall be audited<br />
annually by a Certified Public Accountant (CPA). The<br />
auditor’s report shall be submitted to the Global<br />
Ministry Center within 30 days of issuance.<br />
c. Each General Conference delegate will receive a<br />
summary financial statement for the previous term.<br />
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