Our financial management policies

Our financial management policies

 

This final article in the series on our church’s finances outlines the policies which guide the management of our funds in the longer term.


1. Observe sound financial management practices and satisfy the accounting requirements of the Office of the Scottish Charities Regulator (OSCR).


2. Plan and budget ahead, so that foreseeable major costs (eg, large-scale maintenance) can be met without undue short-term difficulty.


3. Avoid deficit budgets and debt (our financial and population bases are too slight to bear them), with the exception of occasional, planned borrowing for predetermined purposes.


4. Safeguard our financial reserves and purchase appropriate insurance to protect against major accidents and costs resulting from them.


5. Meet our agreed commitments to linkage costs.


6. Meet all reasonable financial requests made to us by the Church of Scotland, especially those invoked to meet the costs of ministry.


7. Ensure that our voluntary expenditure is targeted on our religious, social and cultural objectives as a parish church, which may include generating contributions to selected charities.


8. Seek funding actively and imaginatively from our congregation and the wider community.


9. Seek grant-aid and other financial awards actively when appropriate.


10. Review these policies and practices regularly to ensure that we continue to use resources responsibly and apply sound financial practices.