financial policies manual 2016 · 9/21/2016 · first presbyterian church of santa fe financial...

First Presbyterian Church of Santa Fe

Financial Policies Manual

2016

Approved by Session September 21, 2016

Table of Contents I. Institutional Information ............................................................................................ 7

A. LegalNameandInformation...................................................................................................................................7

B. TaxExemptStatusandGoverningDocuments...............................................................................................7

C. StatementofPurpose..................................................................................................................................................7

D. History...............................................................................................................................................................................8

E. GoverningCouncil........................................................................................................................................................8

F. PastorandStaff..............................................................................................................................................................8

G. Committees.....................................................................................................................................................................8

II. Policy Scope and Background ............................................................................... 11

A. Scope...............................................................................................................................................................................11

B. Background..................................................................................................................................................................11

III. Definitions ............................................................................................................... 13

A. GiftInstrument...........................................................................................................................................................13

B. Funds...............................................................................................................................................................................13

IV. Acceptance and Management of Gifts and Donations ...................................... 19

A. General...........................................................................................................................................................................19

B. EthicalObligationsRegardingSolicitationandAcceptanceofGifts...................................................20

C. ApprovalandManagementofGifts...................................................................................................................21

D. MemorialandEndowmentFunds......................................................................................................................25

E. SpecialOfferings,FundraisingCampaignsandGrants.............................................................................26

F. MiscellaneousProvisions.......................................................................................................................................27

V. Financial Assets Management ............................................................................... 29

A. PurposeandScope....................................................................................................................................................29

B. ManagementofCashandCashEquivalents..................................................................................................29

C. ManagementofInvestments................................................................................................................................30

D. Objectives......................................................................................................................................................................30

E. Strategy..........................................................................................................................................................................30

F. InvestmentGuidelines.............................................................................................................................................31

G. AcceptableRangesofInvestmentCategories...............................................................................................31

H. Implementation—InvestmentCommittee.....................................................................................................32

I. PortfolioSelection,Review,andChanges.......................................................................................................33

J. DeterminingDistributionsfromtheInvestmentPortfolio.....................................................................33

K. EffectofGiftRestrictions........................................................................................................................................33

L. DelegationofManagementandInvestmentFunctions............................................................................34

VI. Non-Contribution Revenue ................................................................................... 35


B. UserFees.......................................................................................................................................................................35

C. Rents................................................................................................................................................................................35

D. CDCTuition..................................................................................................................................................................35

E. OtherNon‐ContributionRevenue......................................................................................................................36

VII. Budget and Fund Management ............................................................................ 37

A. Overview.......................................................................................................................................................................37

B. BudgetandSpendingPlanPreparation...........................................................................................................37

C. EstablishmentandClosureofSpecialPurposeFunds..............................................................................38

D. TypesofSpecialPurposeFunds..........................................................................................................................38

E. BudgetandFundExpenditures...........................................................................................................................41

VIII. Accounting and Financial Reporting Practices ................................................ 43

A. RestrictedandUnrestrictedGifts.......................................................................................................................43

B. FinancialReports.......................................................................................................................................................44

C. AnnualAuditandReports.....................................................................................................................................44

IX. Benevolence Policy ............................................................................................... 45

A. Background..................................................................................................................................................................45

B. PurposeandAdministrationofBenevolenceFund....................................................................................45

C. OversightandAccountability...............................................................................................................................45

D. Revenues.......................................................................................................................................................................45

E. RequestsforBenevolentAssistance.................................................................................................................46

F. GuidelinesforSelectionofRecipients..............................................................................................................46

G. TypesofAssistance...................................................................................................................................................47

H. ProcessingofRequestsandDisbursementofFunds.................................................................................47

X. Internal Controls ..................................................................................................... 49

A. SessionResponsibility.............................................................................................................................................49

B. CashReceipts...............................................................................................................................................................50

C. CashDisbursements.................................................................................................................................................52

D. BankStatements........................................................................................................................................................54

E. Vendors..........................................................................................................................................................................55

F. Payroll.............................................................................................................................................................................55

G. Investments..................................................................................................................................................................55

H. PhysicalAssets............................................................................................................................................................56

I. ComputerSecurity....................................................................................................................................................56

J. Safe...................................................................................................................................................................................57

K. Debt..................................................................................................................................................................................57

L. Bonding..........................................................................................................................................................................57

XI. Insurance and Risk Management ......................................................................... 59


B. DelegationofInsuranceandRiskManagementFunctions.....................................................................59

C. GeneralInsuranceGuidelines..............................................................................................................................60

XII. Contracts and Other Agreements ........................................................................ 63

A. Purpose and Scope:............................................................................................................................................63

B. Legal Documents or Instruments...............................................................................................................63

C. ManagementAuthorizations..........................................................................................................................64

D. Documentation and Filing...............................................................................................................................64

XIII. Document Retention and Destruction Policy .................................................... 65


B. RetentionSchedule...................................................................................................................................................65

Appendices .................................................................................................................. 67

AppendixA:ResponsibilitiesofFinance‐RelatedCommitteesandOfficers................................................67

AppendixB:ConflictofInterestPolicy.........................................................................................................................71

AppendixC:ExpenseReimbursementPlan...............................................................................................................77

AppendixD:AcceptableRangesofInvestmentCategoriesintheInvestmentPortfolio.......................79

AppendixE:CashHandlingPolicy..................................................................................................................................81

AppendixF:SpecialPurposeFundIdentificationDocuments...........................................................................83

AppendixF‐1:SpecialPurposeFundsRelatedtoWorshipandMusicProgram.......................................87

AppendixF‐2:SpecialPurposeFundsRelatedtoFacilities/PhysicalPlant................................................92

AppendixF‐3:SpecialPurposeFundsRelatedtoMissionandSocialJustice.............................................95

AppendixF‐4:SpecialPurposeFundsRelatedtoChristianEducation.......................................................102

AppendixF‐5:SpecialPurposeFundsRelatedtoChildDevelopmentCenter(CDC)...........................104

AppendixF‐6:SpecialPurposeFundsRelatedtoCongregationalCare......................................................106

AppendixF‐7:SpecialPurposeFundsRelatedtoOtherFundActivities...................................................108

AppendixF‐8:PC(USA)OfferingAccounts.............................................................................................................111

Forms ......................................................................................................................... 117

FPCSpecialPurposeFundIdentificationDocumentTemplate......................................................................117

FPCAgreementforOfferingCounters.......................................................................................................................118

FPCCheckRequisition......................................................................................................................................................119

FPCIncomeDistributionWorksheet..........................................................................................................................120

FPCConflictofInterestDisclosureStatement........................................................................................................121

ExpenseReimbursementPlanAcknowledgement...............................................................................................123

Treasurer

Cross-Out

Tables ......................................................................................................................... 125

Table1‐CommitteeChairPositions..........................................................................................................................125

Table2‐Officer/Staff/VolunteerPositions...........................................................................................................126

Table3–CheckSignatories............................................................................................................................................126

Table4–Vendors................................................................................................................................................................126

Table5–ThirdPartyCharities.....................................................................................................................................127

FPCSF Financial Policies Manual

I. Institutional Information

A. Legal Name and Information

FirstPresbyterianChurchofSantaFe208GrantAvenueSantaFe,NewMexico87501Phone:505‐982‐8544E‐mail:[email protected]:www.fpcsantafe.org

B. Tax Exempt Status and Governing Documents

FirstPresbyterianChurchofSantaFe(alsoreferredtohereinasthe“Church”or“FPC”)isanonprofit,tax‐exemptNewMexicocorporationorganizedforbenevolent,charitable,educational,mission,andreligiousserviceandworshippurposesinaccordancewith:

Itsoriginal,amendedandrestatedArticlesofIncorporationandBylaws. TheConstitutionofthePresbyterianChurch(U.S.A.),foundintheBookofOrder. Sections170(c)(2)(B),501(a)and501(c)(3)ofTitle26,U.S.InternalRevenueCode. TheNewMexicoNonprofitCorporationAct. TheNewMexicoUniformPrudentManagementofInstitutionalFundsAct. NewMexicoGrossReceiptstaxasitappliesto501(c)(3)Non‐Profits.

C. Statement of Purpose

FirstPresbyterianChurchofSantaFeisapartofChrist’suniversalchurchandofthePresbyterianChurch(U.S.A.)(hereinafter,“PC(USA)”).ItisafellowshipofbelieversofallageswhoprofessfaithinGod,theCreator;JesusChrist,theSaviorandLord;andtheHolySpirit,theSustainer.InresponsetoGod’sgrace,MembersandfriendsoftheChurchgathertogetherfortheserviceofGodassetforthinScripture,tobeacaring,inclusive,reconcilingcommunityinSantaFeandthroughoutGod’sworld.Tobethatcommunity,weproclaimgoodnewsthrough:

Worship. Sacraments. Education. Mission. Socialjusticeadvocacy. Pastoralcare.

FPCalsooperatesaChildDevelopmentCenter(CDC)asacommunityeducationaloutreachprogram.TheCDCisaninclusiveandsecularpreschoolforchildrenofage12months


throughprekindergarten.Itisopentofamiliesofallfaithsandteachesglobalprinciplesofkindness,toleranceandcompassion.Inaddition,FPCengagesinothercharitable,benevolentandeducationalactivitiesinSantaFeandelsewhere.

D. History

TheFirstPresbyterianChurchofSantaFewasofficiallyorganizedintheCouncilChamberinthePalaceoftheGovernorsonJanuary6,1867.InMarchofthatyear,theruinsofanearlierBaptistChurchthathadfailedwerepurchasedalongwithtwoacresadjoiningthatproperty.Thechurchremainsinthesamelocationtoday,astheoldestcontinuingProtestantcongregationinNewMexicoandArizona.TheChurchispartofthePresbyterianChurch(U.S.A.),thePresbyterianSynodoftheSouthwest,andthePresbyteryofSantaFe.

E. Governing Council

Consistentwiththe2015‐2017BookofOrder,sectionG‐3.0201,theSessionisthegoverningcounciloftheChurchcongregation.FinancialinstructionstoPC(USA)churchesareinSectionG‐3.0113,whichinstructschurchestohaveanannualfinancialreview,andSectionG‐3.0205,whichinstructsSessiontoprepareandadoptabudget,authorizespecialofferingsandaccountfordisbursements,providefinancialinformationtothecongregation,electaTreasurer,andoverseefinancialprocedures.

F. Pastor and Staff

ThePastoristheHeadofStaffandreportstotheSession.AsHeadofStaff,heorshesupervisesallChurchstaff(allemployeesandcontractworkers).ThisPolicysetsforthcertainfinancialrolesandresponsibilitiesforstaffmembers,whichreflectdelegationsfromthePastor.ThesestaffrolesanddelegationsmaybechangedbythePastorwithoutSessionapproval.SignificantchangesshallbereportedtoSession.

G. Committees

CommitteesareestablishedbytheSession,whichdesignatestheirauthorityandresponsibilities(BookofOrderSectionG‐3.0109andFPCBylawsArticle7).ChairsofcommitteesatFPCarenominatedbythePastorandapprovedbytheSession.CommitteechairsandthePastorselectcommitteemembers(exceptfortheNominatingCommittee,membersofwhichmuchbeapprovedbytheCongregation).CommitteeChairsandmembersarewelcometoattendanySessionmeeting,andChairsareencouragedtoattendSessionmeetingswhenpertinentCommitteebusinessisbeforetheSession.ThisPolicysetsforthfinancialresponsibilitiesofcommitteesrelatingtoexpendituresfromtheannualbudgetandfromSpecialPurposeFunds.Insomesituationsacommittee’s

authoritymaybedelegatedtoastaffmember,withtheapprovalofthePastor.ThesedelegationstoastaffmembermaybechangedbythecommitteewithoutSessionapproval.AnynewresponsibilitiesforastaffmembermustbeapprovedbythePastorasHeadofStaff.


II. Policy Scope and Background

A. Scope

ThisPolicyisintendedtocoverallChurchfinancialpoliciesandpractices,withtheexceptionofspecificfinancialpracticesrelatedtoemployeecompensationandbenefits,whicharesetforthintheFPCHumanResourcesManual.ThisPolicyisarrangedapproximatelyinthesamesequentialorderastheflowoffundsthroughtheChurch.Thus,itbeginswiththeChurch’sreceiptofrevenues,primarilyintheformofgifts;extendsthroughtheChurch’spreparationandexecutionofanannualbudgetanditsmanagementofcurrentfunds,investmentassets,andSpecialPurposeFunds;andconcludeswiththeChurch’saccountingandfinancialreportingpractices.

B. Background

TheChurchreceivesvirtuallyallitsrevenuesintheformofgifts(alsoreferredtoasdonations)fromMembersoftheChurchandothers.Suchgiftsaremostcommonlyreceivedintheformofregularpledgesandlooseplatecollections.However,theyalsoincludegiftsandbequestsfromwills,trustsandotherplannedgivinginstruments;specialpurposegifts;andspecialcollectionsandfundraisingcampaigns.Initsmanagement,accounting,andreportingofitsfinances,theChurchcomplieswith:

Applicableaccountingandreportingprinciples,includingtheGenerallyAcceptedAccountingPrinciples(GAAP)asprescribedfornonprofitorganizationsbytheFinancialAccountingStandardsBoard(FASB)1.

TheNewMexicoUniformPrudentManagementofInstitutionalFundsAct. GuidancefromtheSantaFePresbyteryandhighercouncilsofthePresbyterian

Church(USA).ResponsibilityfortheadministrationofthisPolicyresideswith:

TheCommitteesonFinance,Stewardship,Investments,andFinancialReview. OtherspecialpurposeCommittees. TheTreasurer. ThevariousChurchmanagersandvolunteerswhoareinvolvedinfinancial

management;assetforthinmoredetailinAppendixAandTables1‐4.

1TheChurchmaintainsitsbooksonamodifiedcashbasis,accruingincomeandexpenseoflargersumsthatwouldmostaffecttheevaluationofitsfinancialstatus.However,itusesthecashmethodforroutineongoingitems.Sufficientdetailisavailabletoconvertfinancialstatementstoafullaccrualmethodifneeded.


III. Definitions

A. Gift Instrument

A“GiftInstrument”isadonoragreement,checkmemorandum,bequest,Churchsolicitation,oranyotherrecord,pursuanttowhichpropertyisdonatedto,transferredto,orheldbytheChurchexclusivelyforpurposesconsistentwiththemissionoftheChurch.AgiftinstrumentdetermineswhetherornotagiftisRestrictedorUnrestricted.

UnrestrictedGiftAn“UnrestrictedGift”isagiftgiventotheChurchwithoutanyrestrictionplacedonthepurposeortimeordurationoftheuseofthegift,otherthanthatitbeusedforpurposesconsistentwiththeChurch’smission.

RestrictedGiftA“RestrictedGift”isagiftthatadonorgivestotheChurch,eitherbywillorbequestafterpassing,orwhileliving(an“intervivos”gift),andwhichissubjecttoarestrictioninaGiftInstrumentontheuseofthegiftastopurposeorastodateordurationofusebeyondthecurrentyear.ItisimportanttonotethataRestrictedGiftmayresulteitherfromarestrictionimposedbyadonor,orfromarestrictionproposedbytheChurchinafundraisingsolicitationorotherGiftInstrument.

B. Funds

A“Fund”isanindependentgeneralledgeraccountthatisestablishedtotrackrevenuesandexpendituresofaparticularcategoryofprograms,projects,orpurposes.Theterm“funds”means,simplystated,“money”;andtheverb“tofund”generallymeans“topay”or“tofinance.”2

2Theterms“fund,”“funds,”and“Fund”areveryconfusingconceptsfornon‐accountants.Theconfusionarisesfromthemanymeaningsoftheseterms.First,theterm“fund”maybeusedasnoun,tomeanageneralledgeraccount;andtheterm“Fund”isusedheretomeanageneralledgeraccountthatisdedicatedtoaspecialpurpose.Butitmayalsobeusedtosimplymeanaparticularamountofmoneyorotherfinancialasset(asin“funds”).Thusitmaybesaidthata“fundbalance”istheamountof“funds”ina“Fund”atanygiventime—confusingtosaytheleast.

Thisisconfusingenough,butitgetsevenworse.Theterm“tofund”isalsousedasverb,meaningto“topayfor”orto“finance.”Anditisalsousedinotherspecialcontexts—asin“mutualfunds,”“reservefunds,”“sinkingfunds,”andotherspecialmeanings.


1.FundAccounting

“FundAccounting”isanaccountingsystemprescribedbytheU.S.FinancialAccountingStandardsBoard(FASB)forusebynonprofitorganizations.UnderFASB,nonprofitsarerequiredtoreporttheirnetassets(assetslessliabilities)intheclassificationsofunrestricted,temporarilyrestricted,andpermanentlyrestricted.AssetsdesignatedforaspecificpurposebyactionoftheSessionareconsideredunrestrictedassets.

2.OperatingFunds

Asusedinthisdocument“OperatingFunds”(alsocalledcurrentfunds,orgeneraloperatingfunds)referstoFPCfundsthatareunrestrictedandavailableforexpenditureinthecurrentfiscalyear.Theyinclude,butarenotlimitedto:

Fundsderivedfromgeneralunrestrictedpledges. Looseplatecollections. Otherunrestrictedandunpledgedgifts. Earningsandotherinvestmentincomeearnedonunrestrictedinvestments. Unrestrictedbequeststhatareexpendablebythechurchonacurrentbasis. Fundsreceivedfromsourcesotherthangiftsordonations,suchasbuildingrentals.

OperatingFundsareavailableforexpendituretosupportgeneralChurchoperations,ministriesandmissionactivitieswithinthecurrentfiscalyear.However,byadoptionofanannualbudgettheChurchimposesalimitontheexpenditureofotherwiseavailableOperatingFundsinthecurrentyear.

3.GeneralFund

Theterm“GeneralFund”encompassesallOperatingFunds(definedabove),unrestrictedinvestments,andotherunrestrictednetassets.ThenetamountintheGeneralFundisshownontheFPCstatementoffinancialposition(balancesheet)as“unrestrictednetassets.”UnrestrictednetassetsincludeSessionDesignatedFundsbutnotDonorRestrictedFunds.AssetsaccountedforinUnrestricted,UndesignatedNetAssetsareavailableforanypurposepermittedbylaworbythegoverningdocumentsoftheChurch.

4.SpecialPurposeFunds

A“SpecialPurposeFund”isaFundestablishedbytheChurchtotrackrevenuesandexpendituresforaspecialproject,programorpurpose.TherearetwotypesofSpecialPurposeFunds–DonorRestrictedFundsandSessionDesignatedFunds.


(a)RestrictedFundsA“RestrictedFund”(or“DonorRestrictedFund”)isaSpecialPurposeFundfundedbyoneormoreRestrictedGiftsthataresubjecttoacommonrestriction,andwhichcannotbeeffectivelyusedorexpendedwithinthecurrentyear.TherearetwotypesofRestrictedFunds:TemporarilyRestrictedFundsandPermanentlyRestrictedFunds.

(1)TemporarilyRestrictedFundA“TemporarilyRestrictedFund”isaRestrictedFundthatisrestrictedto:(a)aparticularpurpose;or(b)exhaustionoftheFundoveraspecifiedperiodextendingbeyondthecurrentyear,butnotextendinginperpetuity.Thelatter(b)istraditionallyreferredasa“TermEndowmentFund,”ora“LimitedTermEndowmentFund,”oranon‐perpetualEndowmentFund.(2)PermanentlyRestrictedFundA“PermanentlyRestrictedFund”isRestrictedFundthatisrequiredtobemaintainedinperpetuity,withonlytheannualincome(interest,dividends,capitalgains,andcapitalappreciation)beingavailableforusebytheChurcheachyear.TraditionalendowmentsarePermanentlyRestrictedFunds.

(b)SessionDesignatedFundsA“SessionDesignatedFund”3(orsimply“DesignatedFund”)isaSpecialPurposeFundestablishedbytheSessionforaparticularprojectorpurpose,andwhichisfundedwithunrestrictedfundsappropriatedbytheSessionfromtheGeneralFund.UnlikeRestrictedFunds,DesignatedFundsarenotfundedwithDonorRestrictedGifts,andthuscanbedivertedtootherpurposesbyactionoftheSessionatanytime.ThisisnottobeconfusedwithaSessioninitiativetoraisemoneyforaspecificpurpose,inwhichcasecontributionswouldbeDonorRestricted.(c)Pass‐ThroughAccountsA“Pass‐ThroughAccount”isanaccountusedforRestrictedGiftsthataredesignatedbyadonorasbeingintendedforaspecificthird‐partybeneficiary,andaredistributedpromptlytothethird‐partybeneficiary.WhileaPass‐ThroughAccountiscategorizedhereasaSpecialPurposeFund,becauseitisfundedwithDonorRestrictedGifts,itisinfacttreatedasaliabilityaccountandisnormallydisbursedaspromptlyaspossiblewithoutbeingrecordedasrevenue,unlesstheorganizationisarelatedorganization(typicallyPC(USA)),(asperFASB136).

3Someinstitutionsreversethemeaningsoftheterms“DesignatedFund”and“RestrictedFund”fromthemeaningsusedinthisPolicy.


5.OtherTraditionalTypesofSpecialPurposeFunds

(a)EndowmentFundsAnEndowmentFundcreatedbygiftorbequestisatypeofRestrictedFund.AnEndowmentFundmayberestrictedfromcompleteexpenditureinperpetuity,inwhichcaseitisatraditionalEndowmentFundthattheFASBidentifiesasaPermanentlyRestrictedFund;oritmayberestrictedtoexpenditureoveraspecifiedtermofyears,inwhichcaseitisatypeofaTemporarilyRestrictedFundknownasaTermRestrictedFund.IntheabsenceofanywrittenguidanceinaGiftInstrument,agiftacceptedtoestablishanEndowmentFundwillbetreatedasaperpetualEndowmentFund.TraditionalperpetualEndowmentFundstypicallyallowearnedinterestordividendstobewithdrawnandusedfortheirintendedpurposes,withoutinvasionoftheprincipal.FixedTermEndowmentFundstypicallyallowwithdrawalofinterestanddividendandsomepartoftheprincipal.Overtime,withdrawalof“appreciation,”orunrealizedcapitalgainshasbeenmorecommonlyallowed,inadditiontointerest,dividends,andrealizedcapitalgains.ThisistheinterpretationadoptedinthisPolicy,unlessotherwisespecifiedbyadonor.Further,recentchangesinthelaw(UniformPrudentManagementofInstitutionalFundsAct,UPMIFA)havealsomadeiteasierforchurchestomakewithdrawalsfromEndowmentFundsthatare“underwater,”i.e.,wheretheirvaluehasdroppedbelowthevalueoftheoriginalgift(the“historicdollarvalue”).Inthepastsuchasituationwouldhavebeenoff‐limitstofurtherexpendituresuntilthevalueoftheFundhadrisentoitshistoricdollarvalue.AFundthatiscreatedbytheSessionbyappropriationofunrestrictedfinancialassets,andwhichisdesignatedasanEndowmentFund,isneverthelessaSessionDesignatedFund;anditmaybeappropriatedtootherpurposesatanytimebyactionoftheSession.AsofthedateofissuanceofthisPolicyin2016,FPChasnoPermanentlyRestrictedEndowmentFund.(b)MemorialFundsAMemorialFundiscreatedbygiftstotheChurchthataremadebyfriendsorfamilyinhonorandmemoryofadeceasedlovedone(aMemorialGift).AMemorialGiftthatisnotrestricted,otherthanbytheintentthatitberecognizedasaMemorialGift,isotherwisetreatedasanunrestrictedgift.SuchagiftisdepositedintheMemorialGiftsFund,aSessionDesignatedFund


maintainedbytheChurchtohonorthedonorsaswellasthedeceased,andusedforappropriatepurposesdesignatedbytheSessionfromtimetotime.IfaMemorialGiftisfurtherrestrictedastopurposeorastotimeofexpenditure,itshallbetreatedasaRestrictedGift.(c)ReserveFundsAGeneralReserveFundisaSpecialPurposeFundintendedtocoverfuturecoststhataretypicallynotcoveredbytheannualbudgetasordinaryrecurringoperatingexpenses.OtherReserveFundsincludethosethatarededicatedtothemaintenanceandrepairofmajorfacilities,andareintendedtoaccumulatefundssufficienttobearthecostsoffuturerepairs,replacementsandnon‐routinemaintenanceofsuchfacilities.Thus,forexample,FPCmaintainsaBuildingReserveFundandanOrganReserveFund.ReserveFundsmaybeeitherDonorRestrictedorSessionDesignatedFunds.AReserveFundcreatedbyactionoftheSessionandfundedbyappropriationofunrestrictedOperatingFundsisaSessionDesignatedFund,whichmaybesubsequentlysupplemented,expended,orchangedinpurposebyactionoftheSession.


IV. Acceptance and Management of Gifts and Donations

A. General

TheChurchsolicitsandacceptsgiftsforpurposesthatwillhelptheChurchadvanceandfulfillitsmission.Thesepoliciesandguidelinesgoverntheacceptance,use,andfinancialreportingofgiftsmadetotheChurch.TheyareintendedtoensurethattheChurchhasflexibilityinitsacceptanceandmanagementofgifts,whilealsoensuringthatprudentjudgmentanddonors’wishesareobservedtothemaximumextentpossible.Thispolicyisbasedonthefollowingprinciples:

• TheremustbeafairandproperbalancebetweentheinterestsofdonorsandthepurposesoftheChurch.

• Unrestrictedgiftsareencouraged. • Giftsthatarerestrictedastopurposemustbeconsistentwiththepurposesofthe

Churchandsufficientinamounttojustifytheircostandeffortofadministration.• Donorsareencouragedtodiscussgiftplanningwithprofessionaladvisors.• Acknowledgmentsofgiftswillbemadetodonorsunlesstheywishtoremain

anonymous.TheChurchencouragesgiftsofmoneyandmarketablesecurities,andwillconsideracceptinggiftsofotherpersonalorrealproperty,eitherasintervivosgiftsgivenduringone’slifetimeorgiventhroughplannedgivinginstrumentssuchaswills,trustsandcharitableannuities.TheChurchwillnotacceptagiftthatwould,intheChurch'ssolejudgment:(a)resultintheChurchviolatingtheConstitutionofthePresbyterianChurch(USA)orthegoverningcorporatedocumentsofFPC;(b)improperlyinuretothebenefitofanyindividualorwouldotherwisejeopardizethestatusoftheChurchasanInternalRevenueService§501(c)(3)not‐for‐profitorganization;(c)betooburdensomeorexpensivetoadministerinrelationtoitsvalue;(d)beforpurposesoutsidetheChurch'smission;or(e)belikelytoresultinanyotherconsequencedeemedunacceptabletotheChurch.TheChurchacceptsRestrictedGiftssolongastherestrictionsarelegal,ethical,andconsistentwiththemissionoftheChurch.DecisionsontheacceptabilityofagiftrestrictionaremadeontherecommendationoftheStewardshipCommitteeandbyactionoftheSession.TheSessionwillalsoconsidertherecommendationofotherstandingoradhoccommitteeswithregardtoparticularproposedgifts.ByacceptingaRestrictedGift,theChurchundertakestohonorthedonor'swishes,unlessreleasedormodifiedbythedonororhisorherauthorizedexecutor,trusteeorotherauthorizedrepresentative;orunlessauthorizedbyapplicableNewMexicolawgoverningtheexhaustion,modificationordissolutionofRestrictedFunds.RestrictedGiftsthat


cannotbeutilizedentirelywithinthecurrentyearwillordinarilybemanagedbytheestablishmentofaRestrictedFundtotracktherevenuesandexpendituresassociatedwiththeGift.AllDonorRestrictedFundsshallbemanagedinaccordancewiththerestrictionsapplicabletothem.DeparturesfromsuchrestrictionsrequireapprovaloftheSession,actinginaccordancewiththerequirementsoftheUPMIFA,whichmayrequiretheChurchtoseekacourtorderorpermissionfromtheOfficeoftheAttorneyGeneralbeforeproceeding.RestrictedGiftsofferedandacceptedtosupplementanexistingDonorRestrictedFundshallbesubjecttothesamerestrictionsastheoriginalgift.AllgiftstotheChurcharemaintainedandidentifiedinChurchfinancialrecordsinamannerconsistentwiththerequirementsof:(1)GenerallyAcceptedAccountingPrinciplesapplicabletononprofitorganizations;and(2)theNewMexicoUniformPrudentManagementofInstitutionalFundsAct(UPMIFA).ThesepoliciesshallbebroughttotheattentionofanyprospectivedonorofaRestrictedGiftandtotheattentionofeachMemberoremployeeoftheChurchwhoisinvolvedinFPCfundraisingefforts.

B. Ethical Obligations Regarding Solicitation and Acceptance of Gifts

1.CodeofConduct

AllChurchrepresentativesinvolvedinfundraisingorothersolicitationoracceptanceofgifts,includingChurchMembers,officers,andstaff,shallconductthemselvesinaccordancewithacceptedprofessionalstandardsofaccuracy,truth,integrity,confidentiality,andgoodfaith.Churchrepresentativesshallexercisecautiontoavoidpressure,persuasion,orundueinfluenceonprospectivedonors,andshallencouragesuchdonorstoseekindependentprofessionaladvicewhenconsideringaplannedgiftoption.AllChurchpersonnelwhocontactprospectivedonorsorsolicitgiftsareeitherunpaidvolunteersorareemployeeswhoarepaidafixedsalaryorwage.Suchpersonnelshallnotreceiveanycommissionorothercontingentcompensationthatwouldcreatepersonalbeneficialinterestinanygiftagreement.TheChurchwillurgeallprospectivedonors,asappropriatetothegiftinconsideration,toseektheadviceoftheirownattorneysandfinancialandtaxadvisorsinreviewingstateandfederalincometaxconsequencesoftheirgift,thetermsofanytrustorannuityagreement,andtheadvisabilityofthegiftinlightofthedonor'soverallestateplanandfinancialcircumstances.


2.ConflictofInterest

TheChurchrecognizesitsresponsibilitytobecognizantoftheinterestsandconcernsofthedonor.Ingeneral,noemployee,Memberorothervolunteershallhaveaprivatefinancialinterest,directorindirect,inanytransactionorarrangementwiththeChurch,andshallavoideventheappearanceofanyactofself‐dealing.FPCmaintainsaseparateConflictofInterestPolicythataddressesconflictsinbusinessandothercontractualtransactions(seeAppendixB).

3.ConfidentialInformation

TheChurchrecognizesthatadonororprospectivedonorhasplacedtrustintheChurchconcerningconfidentiality.Therefore,alldonorinformation,correspondenceandgoverninginstrumentsshallbetreatedinaconfidentialmannerandmadeaccessibleonlytostafforMembersoftheChurchhavinganeedtoknowsuchinformation,excepttotheextentthatsuchconfidentialityisspecificallywaivedbyadonor.

4.UseofMembershipandDonorLists

ItistheChurch'spolicynottosellorotherwisetransferitsdonorlistsorinformationregardingindividualgiftstoorganizationsorindividualsforpurposesnotessentialtoChurchoperations.

5.ProtectionofDonors’Interests

Noprogram,agreement,trust,contract,orcommitmentshallbeknowinglyurgeduponanyprospectivedonorthatwouldbenefittheChurchattheexpenseofthedonor'sinterestandwelfare.NoagreementshallbemadebetweentheChurchandanyagency,person,company,ororganizationonanymatterrelatedtoinvestments,management,orotherwisethatknowinglyjeopardizesadonor'sinterest.

C. Approval and Management of Gifts

1.GiftsAcceptedWithoutReview

(a)MonetaryGifts

Unrestrictedmonetarygiftsarewelcomefromanydonor,intheformofcash,check,creditordebitcardpayment,orelectronicfundtransfer.Donorswishingtomakeagiftbycreditcard,debitcardorACHtransferfromtheirbankaccountmaydosoonlinethroughFPC’scurrent(2016)paymentserviceprovider,VancoPaymentSolutions,whichisaregisteredISO(IndependentSalesOrganization)ofWellsFargoBank,N.A.,WalnutCreek,CA.InstructionsareavailableontheFPCwebsite


(http://www.fpcsantafe.org),underthelink“Donations”atthebottomoftheFPChomepage.

Note:Acheckwithastatementinthememorandumline,oraccompaniedbyanote,maybeaRestrictedGift—seesubsection2.belowregardingacceptanceofsuchgifts.

(b)Pledges

TheChurchprefersthatpledgesbefulfilledasunrestrictedmonetarygifts.Pledgesmaybefulfilledwithcontributionsofmarket‐listedsecurities.

(c)UnrestrictedPlannedGifts

TheChurchacceptsunrestrictedgiftsarisingfromcharitableremaindertrusts,charitableleadtrustsandsimilararrangementswheretheChurchisnamedasanincomebeneficiary.

(d)LifeInsuranceProceedsandOtherDeathBenefits

TheChurchacceptsbeingnamedasafullorpartialbeneficiaryoflifeinsurancepoliciesandretirementplans.

(e)BequestsandDevises

TheChurchwelcomesunrestrictedgiftsofmoney,market‐listedsecuritiesorotherpropertyarisingfromwills,trusts,andotherformsofplannedgiving.However,suchgiftsmayrequirereviewwheretheywouldrequireongoingactiveparticipationormanagementbytheChurchasatrusteeorinsomeotherrole(seebelow).

(f)Stocks,MutualFundsandOtherSecurities

TheChurchacceptsgiftsofmarket‐listedsecuritiesintheformofcommonstocks,bonds,mutualfundsandothermarketablesecurities.SecuritiesmaybetransferredelectronicallytotheChurch’sbrokerageaccountordeliveredphysicallywiththetransferor'sendorsementorsignedstockpower(withappropriatesignatureguarantees)attached.MarketablesecuritieswillusuallybesoldpromptlyuponreceiptunlessotherwiseapprovedbytheSessionuponconsultationwiththeInvestmentCommitteeandtheTreasurer.Insomecasesthedispositionofmarketablesecuritiesmayberestrictedbyapplicablesecuritieslaws,contractualagreements,orthetermsofaproposedgift;insuchinstancestheSessionshalldecidewhethertoacceptsuchsecurities.AnysecuritythatisnotpubliclytradedwillbeacceptedonlyiftheSessiondeterminesthereisareadilyavailablemarketforitsdispositionandthesecuritydoesnotpresentanongoingcostorliabilitytotheChurch.

(g)SubstantialUnrestrictedGifts

Unrestrictedgiftsorbequestsof$25,000ormorethatarenotgivenaspartofanannualpledgearealwayswelcomeandshallbereportedtotheSessionforitsdeterminationasto


theiruse.SuchgiftsmaybeinvestedintheSessionDesignatedGeneralReserveFundortheymaybeappropriatedtosupportcurrentoperations.

(h)GiftstoExistingRestrictedFunds

MonetarygiftsintendedforanexistingDonorRestrictedFundwillbeacceptedsolongaspermittedbythetermsoftheFundIdentificationDocument.

(i)MinororRoutineIn‐kindGifts

ChurchcommitteesandmanagersmayacceptorrejectminororroutinedonationsofgoodsandservicesofferedtosupportChurchoperations,suchaskitchenorofficesupplies,flowers,fooditems,seasonaldecorations,etc.

2.GiftsSubjecttoReview

(a)MonetaryGiftsSubjecttoDonorImposedRestrictions

Somemonetarygiftsaregivenwith“stringsattached,”whichcanbeassimpleasanoteinthememorandumlineofacheckmadeouttoFPC,andwhichmakethecheckaGiftInstrument.SuchgiftsareDonorRestrictedGifts.Dependingontheirsizeandpurpose,theysometimesrequireevaluationbytheTreasurer,theStewardshipCommittee,and/ortheSession.Thefollowingguidanceregardingcoversthemostcommonlyencounteredsituationsofthistype:

GiftsIntendedforExistingSpecialPurposeFunds.Giftsintendedtoaugmentanexisting

DonorRestrictedFundwillnormallybeacceptedunlesstheFundhasbeenclosedtoadditionalgifts.GiftsintendedtoaugmentaSessionDesignatedFundwillnormallybeaccepted,withtheTreasurerbeingresponsibleforseparatelyaccountingforRestrictedandSessionDesignatedassetsintheFund.

• GiftsIntendedtoAugmentBudgetLineItems.TheChurchgenerallyacceptsmonetary

giftsofferedtoaugmentparticularcategoriesofbudgetedlineitems.However,theSessionisresponsiblefordeterminingtheannualbudgeteachyear.Therefore,giftsintendedtoaugmentbudgetlineitemsmaybeplacedinanappropriateDonorRestrictedFundandaresubjecttospendingplansforsuchFund.

Insomecases,suchagiftmayrequirereviewbytheStewardshipCommitteeandtheSession.Forexample,giftsintendedtosupplementparticularstaffsalaries,ortohireadditionalstaff,willbegivenparticularlycarefulreviewbecauseofthepotentialforinterferingwithstaffrelations,orcreatingtheexpectationofalongtermsalarycommitmentthatcannotbeguaranteed.Insomecases,theStewardshipCommitteemaywishtoconferwiththedonortodiscussalternativearrangements.

GiftsIntendedforThird‐partyCharities.Giftsofferedforthebenefitofarecognizedthird‐partycharitywillbeacceptedaslongasthecharityisendorsedbyPC(USA)orFPC.TheMissionandSocialJusticeCommitteeshallbeinformedofsuchgifts.Such


giftsaretreatedasaliabilityandpaymentistransmittedtotheintendedrecipientorganizationaspromptlyaspossible.(RefertoTable5,seeTablessectionatendofdocument.)

GiftsIntendedforPrivateOrganizationsorIndividuals.Checksintendedforthebenefit

ofspecificindividualsorprivateorganizationswillnormallynotbeaccepted.

(b)RareorUnusualCategoriesofGifts

ThefollowingcategoriesofgiftsrequireapprovaloftheSessiononacase‐by‐casebasis: Collectionsoftangibleitems,suchasfineartworks,historicalorcultural

artifacts,jewelry,rarebooksordocuments,antiques,etc. Oil,gasormineralinterests. Intellectualpropertyrights. Giftsofferedontheconditionofreceivingnamingrightstofacilities,furnishings,

orSpecialPurposeFunds. Bargainsalesarrangements.

(c)GiftsofRealEstate

GiftsofrealestaterequirepriorapprovalbytheSession.Ingeneral,onlyrealestatewithavalueestimatedbythedonororotherstobe$100,000orgreaterwillbeconsidered.Nogiftofrealestateshallbeacceptedwithout:

Acurrentappraisalconductedbyaqualifiedappraiser.Thisappraisalshallbetheresponsibilityofthedonor.TheChurchmayalsochoosetoconductanindependentappraisal.

Titlesearchandtitlepolicy. Marketabilitycheck,completedundertheumbrellaofastandardappraisal. Appropriateenvironmentalimpactstudyofthepropertytoascertainifitis

subjecttoenvironmentalrestrictions,sanctions,toxicwastes,orotherwiseencumberedsoastocausepossibleliabilitiesfortheChurch,unlesssuchstudyiswaivedbytheSession.

Conveyancebyspecialwarrantydeedortrustee'sdeed(preferredtoquitclaimdeed).

Donorcoverageofallcostsincurredbytheenvironmentalimpactstudyandprocuringandpayingforthetitlesearchandfullappraisal,unlesswaivedbytheSession.

Specialattentionbeinggivenrealestateencumberedbyamortgage. Theunderstandingthatitwillbeheldinperpetuityorsubjecttorightsof

reversionorotherconditions.

(d)PlannedGiftsRequiringSessionApproval

PlannedgiftsorgiftagreementsrequiringwrittenFPCconsentoractivemanagementparticipationrequireapprovalbytheSession.SuchgiftsoragreementsincludeanyagreementwheretheChurchconsentstoserveasatrusteeorco‐trusteeofatrust,orasan


executororadministratorofanestate.Wheresuchanagreementisapproved,theTreasurershallserveastheresponsibleofficertorepresenttheChurchasatrustee.

(e)UnacceptableGifts.

CertaingiftsmayplaceanundueriskupontheChurchandshallbeordinarilydeclined.Theseinclude:

Interestsinsoleproprietorshipsorpartnerships. InterestsinpropertythatmayleadtoprohibitedtransactionsundertheIRS

Code.

D. Memorial and Endowment Funds

1.MemorialFunds

TheChurchmaintainsageneralMemorialGiftsFundforunrestricteddonationsmadeinmemoryandhonoroflovedones.ThisFundismonitoredbytheClerkofSessionandisusedbytheSessionfromtimetotime,generallyforspecialornon‐recurringpurposesoutsidethescopeofthenormaloperatingbudget.AlldonorstothisFundwillbecreditedwithandacknowledgedprivatelyfortheirdonationsfortaxpurposes.Tworecordsofsuchdonationsaremaintained—aprivaterecordandtheChurchMemorialBook.DonorsmaychoosetohavetheirnamesreleasedtotheCongregationiftheywish,andthusrecordedintheChurchMemorialBook,whichissharedwiththefamilyandisavailabletotheCongregation.Alternatively,theymaychoosetoremainanonymousandhavetheirnamesrecordedonlyontheprivaterecord.

2.EndowmentFunds

AsofthedateofthisPolicy(2016),theChurchdoesnothaveatraditionalEndowmentFund(aPermanentlyRestrictedFund).However,theChurchwillconsiderofferstocreatenewSpecialPurposeFundsinthenatureofEndowmentFunds,includingoffersthatarerestrictedtoparticularpurposesortermrestrictions,inaccordancewiththegiftacceptancepoliciessetforthabove.

3.OversightResponsibility

TheStewardshipCommitteeischargedwithcommunicatingprivatelywithexistingandprospectivedonorsregardingspecialgiftsthatcouldsupplementexistingSpecialPurposeFunds,orwhichcouldresultinnewSpecialPurposeFunds,includingMemorialandEndowmentFunds;andshallmakerecommendationstotheSessionastowhetherRestrictedGiftsregardingtheacceptanceofsuchgifts.TheStewardshipCommitteeisalsochargedwithcounselingMembersandfriendsoftheChurchregardingtheestablishmentof


plannedgivingarrangementsinthenatureofbequests,trustsandotherplannedgivingarrangements.TheStewardshipandInvestmentCommitteesandtheTreasurershallconferontheappropriatedepositorinvestmentofassetsmaintainedinsuchFunds.IfrequiredbySessionorthedonor,interest,dividends,orotherearningsfromsuchgiftsshallremainandbereinvestedintherespectiveFund.

E. Special Offerings, Fundraising Campaigns and Grants

Specialofferings,collections,orfundraisingcampaigns(“solicitations”)onbehalfoftheChurchrequireapprovaloftheSession,actingonrecommendationoftheStewardshipCommittee.SpecialsolicitationsincludeanysolicitationconductedonChurchpremisesorinthecourseofChurchservicesorevents,orusingChurchpersonnel,facilities,publications,ormailinglists;exceptinghoweverregularChurchstewardshippledgecampaignsorsolicitationssponsoredtheSantaFePresbyteryorhigherordercouncilsofthePC(USA).AproposalforaspecialsolicitationshallbesubmittedtotheStewardshipCommitteeandtheSession,withanexplanationofthepurposeofthesolicitationanddetailsregardingtheproposedmanagementofthesolicitationanditsproceeds.Suchdetailsshouldinclude:

Whetherthesolicitationisproposedasaone‐time‐onlysolicitation,orwhetherauthoritytoconductcontinuingsolicitationsissought.

Whethersubsequentcontributionswillbeacceptedaftertheinitialsolicitationhasbeencompleted.

Identificationofproposedcharitablebeneficiaries,ifany. Whetheritsproceedswillrequiremanagementasarestrictedfund;and,ifso,

additionalidentifyingdetails(e.g.,duration,carryoverofannualearnings,endowmentormemorialfundstatus,etc.).

Identificationofthecommitteeorchurchadministrativedepartmentproposedtohaveresponsibilityforthesolicitationandspendingauthorityoveritsproceeds.

AnyapprovedspecialsolicitationshalladviseprospectivedonorsthatcontributionsshallbepayabletotheFirstPresbyterianChurchofSantaFeandshouldbeearmarkedasbeingresponsivetothespecialsolicitation.Contributionsearmarkedforunknownorunapprovedpurposesorsolicitationswillbereturnedtothedonor.Ifformorethananominalamount,thedonorwillfirstbecontactedtoseekclarificationofhisorherintent.AcommitteeormanagerresponsibleforanapprovedspecialcollectionshallreporttheproceedstotheSessionannuallyforinclusionintheannualreporttothecongregation.


StaffandMembersofFPCmayproposetotheSessionthatagrantproposalbesubmittedtotheCity,State,Presbytery,orotherfoundationorprospectivedonor.TheSessionmustbeprovidedwithacopyoftheproposal,includingabudget,whichhasbeenreviewedbytheFPCTreasurer,andSessionmustapprovethegrantproposalbeforeitissubmitted.Ifanawardletterisreceivedandrequiresasignature,HeadofStafforClerkmustreviewthegrantconditions,signtheawardletter,andsharetheawardletterwiththeSessionatitsnextmeeting.

F. Miscellaneous Provisions

1.InterpretationofGiftAcceptancePolicy

TheStewardshipCommitteemaybeassistedintheinterpretationandimplementationofthisPolicybytheTreasurerand/ortheFinanceCommittee.OthersmayalsobeconsultedatthediscretionoftheStewardshipCommittee.TheSessionshallspecificallyapprovegiftagreementsandtheacceptanceofgiftsthatdeviatefromthesepolicies.

2.ValuationofGifts

TheChurchwillrecordagiftatitsvaluationonthedatethegiftisreceived.

3.ResponsibilityforIRSFilingsuponSaleofGift

TheTreasurerisresponsibleforfilingIRSForm8282uponthesaleordispositionofanyassetsoldwithintwoyearsofreceiptbytheChurchwhenthecharitabledeductionvalueoftheitemismorethan$5,000(seeIRSPublication526).TheChurchmustfilethisformwithin125daysofthedateofsaleordispositionoftheasset.

4.TaxAcknowledgements

Allattributable(i.e.,non‐anonymous)giftsmadetotheChurchwillbeacknowledgedtothedonorinaccordancewithIRSPublication1828orotherapplicableIRSguidance.AcknowledgmenttotheCongregationofadonor’sgifttotheChurchshallonlybemadewiththeconsentofthedonor.

5.PledgeCredit

DonorRestrictedGiftsfromMembersorotherswillbeacknowledgedtothedonorfortaxpurposes.However,suchdonationsarenotcreditedtowardpledges,andstatementsprovidedtodonorsshallclearlyreflectthispolicy.


6.ReleaseorModificationofRestrictedFunds

ARestrictedFundmaybecomesodepletedastomakeitscontinuedmanagementimpractical,oritspurposemaybecomeobsoleteornolongerconsistentwiththemissionoftheChurch.InsucheventtheSessionmayreleasetheFundandtransferanyremainingassetstotheOperatingFund,uponcompliancewiththerigorousproceduralrequirementsoftheNMUniformPrudentManagementofInstitutionalFundsAct.


V. Financial Assets Management

A. Purpose and Scope

AssetsoftheChurcharereportedandaccountedforinthefollowingthreebroadcategories:

Cashandcashequivalents. Investments. Propertyandequipment.

ThePolicyinthissectionisapplicabletothefirsttwocategoriesabove.ThisPolicyestablishesproceduresandfinancialcontrolsnecessarytoprudentlymanagethefinancialassetsoftheChurch,andtakesintoconsiderationsociallyresponsibleinvestingguidelinesestablishedbyPC(USA).

B. Management of Cash and Cash Equivalents

TheCashandCashEquivalents(C&CE)accountincludespettycash,checkingandsavingsaccounts,moneymarketaccounts,andcertificatesofdeposit(CDs)havingmaturitiesofnomorethanoneyear.TheC&CEaccountisintendedtocollectivelycontainfundsthatarenecessaryandsufficienttomeetshort‐termoperatingexpensesandSpecialPurposeFundactivity.Unrestrictedrevenuesarenormallydepositedin,andallexpensesarepaidfrom,thecheckingaccount,whichismaintainedatalevelestimatedtobesufficienttomeetfinancialobligationsastheyareincurred.Thesavingsaccountisintendedtocoveroperationalcontingenciesandismaintainedwithabalanceestimatedtobesufficienttomeetanyexpensesnotcoveredbythecheckingaccount,asdeterminedbytheTreasurer.Thesavingsaccountislinkedtothecheckingaccounttocoverinadvertentoverdrafts.Cashthatisbeyondwhatisneededinthecheckingandsavingsaccountsismaintainedinmoneymarketaccountsand/orshort‐termCDs,usingaladderedapproach,andisdepositedwithabankthatchargesnopenaltyforearlywithdrawal,ifavailable.Fundsinexcessof6monthsofoperatingexpensesandplannedFundexpendituresshouldbeinvestedinaccordancewiththeinvestmentpoliciessetforthbelow.Pettycashofapproximately$100ismaintainedforsmalland/orunexpectedcashrequirements.However,nocashreimbursementsaremadeforitemspurchasedforthechurch.


ResponsibilityformanagementofC&CEresideswiththeTreasurerinconsultationwiththeFinanceCommittee.Sessionapprovalisrequiredonlywherematerialchangesarerecommended.Day‐to‐daydutiesconcerningC&CEmaybedelegatedtoabusinessmanagerorotherdelegee.

C. Management of Investments

Investmentsarefinancialassetsthathaveanexpectedlifeofmorethanoneyearandwhicharenotanticipatedtobeliquidatedinthecurrentyear.FinancialassetsoftheChurchthatarenotnecessarytomeetcurrentobligationsareinvestedandarerecordedinaGeneralInvestmentAccount,theBuildingMaintenanceAccount,orotherinvestmentaccountsapprovedbytheSession.ThesearecollectivelyreferredtoastheChurch’sinvestmentportfolio,comprisedofRestrictedandUnrestrictedfunds.

D. Objectives

TheprimaryobjectivesinmanagementoftheChurch’sinvestmentsarethefollowing:

Liquidity:Toensuretheabilitytomeetallexpectedandunexpectedcashflowneeds,investmentsshallordinarilybemadeinsecuritiesthatcanbesoldreadilyandefficiently.

PreservationofCapital:TheChurchseekstominimizethepossibilityoflossofprincipalovertime,bothabsoluteandnetofinflation,recognizingtheinherentrisksthatmarketsinsecuritiespresent.Valuationswillvaryupanddown,bothintheshortandlongterm.Emphasisisplacedontherelativestabilityofaninvestmentaswellasacompetitiverateofreturn.

Growth:GrowthofbothprincipalandincomeissoughtsothattheChurchcanmeetitsobligationsandgoals,bothcurrentandinthefuture.Suchgrowthissoughtwithinvestmentsthatareconsistentwithamoderatetoleranceforrisk,asinfluencedbythelongtimehorizonfortheexpecteduseofsuchinvestments.

E. Strategy

Inordertomeetitsneeds,theChurch’sinvestmentstrategyistoemphasizetotalreturn.Totalreturnistheaggregatereturnfrominterest,dividendsandcapitalappreciation.Totalreturncanresultinagainoralossforanyparticulartimeperiod.Investmentsshallbediversifiedinordertominimizetheriskoflossfromanyparticularinvestmentundulyaffectingtheperformanceoftheinvestmentportfolio.


UnlessotherwiseallocatedbyactionoftheSession,investmentreturnsintheformofinterest,dividends,andanycapitalgainsorcapitalappreciation,areautomaticallyreinvestedwithintherespectiveinvestmentvehiclethatgeneratedthereturn.WiththeapprovaloftheSession,investmentreturnsearnedduringayearmaybeallocatedbetweenreinvestmentinthesameorsimilarinvestments,andtransfertoC&CEtosupportcurrentoperations.Interestfromindividualbondsisanexceptiontothis,sincereinvestmentisnotanoptionforbonds,andshallbereinvestedintheinvestmentportfolioorbedistributedtofundoperations.

F. Investment Guidelines

Acceptableinvestmentsincludefixedincome(debt)securitiessuchascertificatesofdeposit(CDs)withmaturitiesofoneyearorlonger,corporatebondsandUSTreasurybills,notes,bondsandTreasuryInflation‐ProtectedSecurities(TIPS);equities(stocks);andmutualorexchangetradedfunds(ETFs)thatinvestinsuchsecurities.Individualsecurities,otherthanCDsandTreasuries,arediscouraged.AnypurchaseofaCDistobewithinthelimitsofFDICinsurance.IndividualbondsshallberatedatleastAA‐byStandard&PoorsorAa‐byMoody’s.Collective,diversifiedinvestmentssuchasmutualfundsandETFsarefavored.Suchfundtitlesasstrategic,multi‐asset,multi‐sector,allocationandassetallocation,reducedormanagedvolatilitymaybeconsideredinadditiontothemorefamiliartitlessuchasgrowth,growthandincome,value,balanced,income,totalreturn,andindex.Abroadmixofchoicesshouldleadtogreaterdiversificationandmoreeffectiveriskmanagement,importantfortheChurchwithitsmoderaterisktolerance.Directinvestmentsinthefollowingareprohibited:commodities,privateplacements,options,limitedpartnerships,derivatives,hedgefunds,managedfuturesandrealestate.

G. Acceptable Ranges of Investment Categories

GiventheChurch’sprimaryobjectivesofliquidity,preservationofcapital,andgrowth,allconsistentwithamoderatetoleranceforrisk,thefollowingaretheappropriaterangestoutilizeinthemanagementoftheinvestmentportfolio.

Equities(Stocks)40to65percentofthetotalinvestmentportfolio

FixedIncome(Bonds)

35to60percentofthetotalinvestmentportfolio.

Moneymarketfunds,90‐dayTreasurybills,andevencashmaybesubstitutedforanyorallofwhatnormallyisinvestedinequitiesand/orfixedincome.Examplesofwhencashequivalentsmightbeusedinthismannerareextrememarketvolatility,apparentfinancialsystemrisk,andsimplywhenmoniesbecomeavailableinbetweenSessionmeetings.


Intheeventofaperceivedfinancialcrisis,theChairoftheInvestmentCommitteeandtheTreasurer,actingjointly,cantakewhateveractiontheydeemappropriatetoprotecttheportfoliovalue.IntheabsenceoftheTreasurerand/ortheChairoftheInvestmentCommittee,anytwooftheauthorizedpersons(President,VicePresident,Treasurer,andChairoftheInvestmentCommittee)canjointlytakesuchaction.AnyactionshallbereportedtotheSessioninatimelymanner.Inordertomanagetheportfolioovertimewithinthebroadrangesidentifiedabove,theInvestmentCommitteeshallrecommendtoSessionanarrowerrangeofequitiesandfixedincome(andmayrecommendaspecifictargetwithinsuchnarrowerrange).MoredetailedguidancefortheInvestmentCommitteeissetforthinAppendixD.

H. Implementation—Investment Committee

SignificantdecisionsregardinginvestmentsshallbemadebytheSession,actingonrecommendationsoftheInvestmentCommittee.TheInvestmentCommitteeshallmeetsemi‐annuallyormoreoftenasmaybenecessarytoreviewinvestmentresultsandmarketconditions.Evaluationoftheneedforrebalancingtheequitiesvs.fixedincomeproportionsshallbeanothersemi‐annualtask.Unlessthecostofbringingtheportfoliobacktothedesiredratioisprohibitive,itisexpectedthattheCommitteewilltakeactionwhentheratiobecomes3‐5%offtarget.Meetingbye‐mailorteleconferencingmaybeheldasnecessary,providedminutesarekeptandvotesareunanimous.TheCommitteeshallreportregularlytotheSessionandshallprepareanannualreporttotheSessionandthecongregationforinclusionintheChurch’sAnnualReport,showingdepositsduringthereportingyear,disbursements,andinvestmentresults.InaccordancewithUPMIFA,theCommitteeshallmanagetheChurch’sinvestmentportfolioingoodfaithandwiththecareanordinarilyprudentpersoninalikepositionwouldexercise.Investmentcostsshallbeappropriateandreasonableforthesizeoftheinvestmentassets,thepurposesoftheChurch,andtheskillsavailabletotheChurch.Inadditiontotheguidancesetforthabovewithregardtotypesofinvestmentsandrelativeallocationsofinvestmentassets,investmentrecommendationsoftheInvestmentCommitteeshalltakeintoaccountthefollowing:

Generaleconomicconditions. Possibleeffectsofinflationordeflation. Expectedtaxconsequences,ifany. Therolethatanyparticularinvestmentoractionplaysintheoverallinvestment

portfolio. Sociallyresponsiblefactors,asdefinedbyPC(USA).


OtherresourcesoftheChurch. TheneedsoftheChurchtotakedistributionsaswellastopreservecapital.

AnydecisionregardingaspecificinvestmentshallbemadewithinthecontextoftheportfolioasawholeandaspartoftheChurch’soverallstrategy,takentogetherwithappropriateriskandreturnobjectives.

I. Portfolio Selection, Review, and Changes

Portfoliocomponentswillnormallybeselectedexpectingtobeheldthreetofiveyears,orevenlonger.However,foranynumberofreasonsovertimechangeswillbecomewarranted.Otherthanintimesofperceivedfinancialcrisis,changeswillberecommendedtotheSessiononlyfollowingappropriateresearchandanInvestmentCommitteemeeting.Changesaredefinedasreplacing,adding,oreliminatinganypartoftheInvestmentPortfolio.EverythreeyearstheCommitteewillconductamorethoroughreviewofallportfoliocomponents.AtthattimealternativeswillbeconsideredforevencomponentswithwhichtheCommitteehasbeenwellsatisfied.Duringthesemorethoroughassessments,and,inkeepingwiththePresbyterianChurch(U.S.A.)commitmentto"sociallyresponsibleinvesting,"theCommitteewillconsideranewinclusionoftheNewCovenantFunds,iftheyarenotalreadypartoftheportfolio.TheNewCovenantFundsareprofessionallymanagedmutualfundsdesignedtoimplementsociallyresponsibleinvestingasdeterminedbythePC(USA)MissionResponsibilityThroughInvestmentCommittee.

J. Determining Distributions from the Investment Portfolio

Distributionsfromtheunrestrictedportionoftheinvestmentportfolioaretobedeterminedduringtheannualbudgetpreparationprocess,asrecommendedbytheInvestmentCommitteeandapprovedbytheSession.Thedistributionamount,includingtheincomeportionofthedistribution,shouldnotexceed4%ofarollingfour‐yearaverageofsemi‐annualinvestmentportfoliovaluesendingwiththeJune30value,unlessadifferentpercentageisauthorizedbytheSession.

K. Effect of Gift Restrictions

FinancialassetsgiventoandacceptedbytheChurchwithspecificinvestmentrestrictionsshallbemanagedsoastoobservetheintentandpurposeofthedonor(s)tothemaximumextentpossible,consistentwithUPMIFA.Financialassetssubjecttoinvestmentrestrictionsmaybecommingledwithotherinvestments,providedthattheintentandpurposeofthedonor(s)areobserved,by:(1)accountingforsuchassetsasaRestrictedGiftFund;and(2)monitoringandaccountingfortheChurch’sinvestmentportfoliobytheTreasurerandtheInvestmentCommitteeinordertoensurethatsuchassetsremainavailablefortheirintendedpurpose,


notwithstandingoccasionalpartialortotalliquidationsofinvestmentassetstomeetoperationalneeds.IfsuchassetscannotbecommingledwithotherinvestmentswithoutplacingatrisktheabilityoftheChurchtoobservetheintentandpurposeofthedonor(s),theyshallbeseparatelyinvestedandaccountedfor.

L. Delegation of Management and Investment Functions

SubjecttotheapprovaloftheSession,theInvestmentCommitteemaydelegatetoanexternalagent(financialadvisor,broker,representative,etc.)themanagementandinvestmentofspecificfinancialassetsavailableforinvestment.Inenteringintoanysuchdelegation,theSessionandtheInvestmentCommitteeshallactingoodfaith,withthecarethatanordinarilyprudentpersoninalikepositionwouldexerciseundersimilarcircumstances,in:

Selectinganagent. Establishingthescopeandtermsofthedelegation,consistentwiththepurposesof

theChurch,therequirementsoftheNMUPMIFA,andthetermsofanyapplicableGiftInstrument.

Reviewingtheagent’sactionssemi‐annuallyinordertomonitortheagent’sperformanceandcompliancewiththescopeandtermsofthedelegation.

AnyagentappointedbytheChurchshallberequiredtosubmittothejurisdictionofthecourtsofNewMexicoinanyproceedingsarisingfromorrelatedtothedelegationortheperformanceofthedelegatedfunction.


VI. Non-Contribution Revenue


Thissectionstatesthepoliciesregardingincomefromnon‐contributionsources,suchasuserfees,rents,andCDCtuition.TheBookofOrderinChapter4,G‐4.02confirmsthat“thepropertyofthePresbyterianChurch(U.S.A.)...andofitscongregationsisatoolfortheaccomplishmentofthemissionofJesusChristintheworld….Acongregationshallnotleaseitsrealpropertyusedforpurposesofworship,orleaseformorethanfiveyearsanyofitsotherrealproperty,withoutwrittenpermissionofthepresbyterytransmittedthroughthesessionofthecongregation.”FPChaslongopenedthedoorsoftheChurchtocommunitygroupseitherfreeorchargeoratanominalfeeinpursuitofusingthefacilityasMission.Asthegoverningbody,theSessionisultimatelyresponsibleforsetting/approvinguserfees,rents,CDCtuitionandanyothersuchnon‐contributionfeesorschedules.

B. User Fees

TheFPCFacilitiesUseManualincludesascheduleoffees.Thescheduleandpermittedusesshallbereviewedandupdatedeverythreeyears.TheFacilitiesCommitteeshallreportanyupdatestoSessioninatimelymanner.

C. Rents

TheFacilitiesCommittee,FacilitiesManager,andOfficeManagerhavetheoverallresponsibilityfornegotiatingleasesoruseagreementsofthedesignatedspacesinthebuildingforpermitteduse(i.e.,officeorstorage)foraperiodnottoexceedoneyear,consistentwithguidancesetforthintheFacilitiesUseManualandSectionXII(ContractsandOtherAgreements)ofthisPolicy.MonthlyrentsshallbecompetitiveinthemarketinSantaFeforsimilarspaceinordertomaximizetherevenuefortheChurch.Amarketrentalanalysisshallbeconductedatleasteverythreeyearsandrentsadjustedappropriately.TheFacilitiesCommitteeshalldraftaproposaltoSessionforanychangeinrentalfees.

D. CDC Tuition

TheDirectorofTheChildDevelopmentCenter(CDC),inconsultationwiththeCDCAdvisoryCommittee,shallconductacompetitivefeesanalysisannuallyaspartofthebudgetprocessandmakerecommendationsregardingtheadjustmentoftuition.TheDirectorshallfirstgoovertheanalysisandfeerecommendationswiththeFinanceCommitteeandtheTreasurerandshallthenseekSessionapprovalforthefeeadjustments.


AfterSessionapprovesthenewfees,theDirectorshallinformparentspriortothestartofthenewschoolyear.

E. Other Non-Contribution Revenue

Othertypesofnon‐contributionrevenueincludeproceedsfromsaleofitemssuchaspromotionalitems(T‐shirts,mugs),soupsalesbyDeacons,coffeeandoliveoilfairtradeitems,annualdirectories/photos,andChristmascards.AllproposedsalesshallbeapprovedbySession.AdulteducationmaterialssoldbypresentersatcostshallbeapprovedbytheAdultEducationCommittee(usuallyinthecourseofapprovingtheeducationclass),andthesedonotneedtobeapprovedbySession.Sessionmaydesignatecertainsalesforcertainpurposes(e.g.,soupsalestosupportDeaconactivities).Ifso,thenaccountingwillbeimplementedtoproperlyrecordrevenueforthesepurposes.IfSessiondoesnotdesignatetheproceedstogotospecificpurposes,itwillberecordedasgeneralunrestrictedrevenue.


VII. Budget and Fund Management

A. Overview

TheChurchreceivesrevenuesfromsourcesincludingcontributions,CDCtuition,buildingusefeesandothermiscellaneoussources.TheChurchspendsmoneyintwoways:(1)generaloperatingfundsareexpendedinaccordancewithaSession‐approvedannualbudget;and(2)fundsareexpended(released)fromSpecialPurposeFunds.TheChurch’sfiscalyearisthecalendaryear.Theannualbudgetpreparationprocessbeginsinthethirdquarter.ItisajointeffortinitiatedundertheleadershipoftheFinanceCommittee,drawingonthesupportoftheTreasurer,StewardshipandInvestmentCommittees,andincollaborationwiththePastorandstaff,CommitteeChairs,andSession.Theannualprocessbeginsinthelatesummer,witharequesttoChurchmanagersandCommitteeChairshavingspendingauthoritytoprovideanestimateof:(a)theamounttheywillneedinthefollowingfiscalyeartosupporttheirannualoperations,tobefundedbyanallocationintheapprovedbudgetforthefollowingyear;and(b)additionalamountsthattheyintendtoexpendinaccordancewithaproposedspendingplanthattheysubmitforSpecialPurposeFundsforwhichtheyareassignedordelegatedresponsibility.

B. Budget and Spending Plan Preparation

AdraftbudgetandspendingplansforSpecialPurposeFundsareprepared,basedonChurchneedsasperceivedbythevariousManagersandresponsibleCommitteeChairs,thefinancialconditionoftheChurchastheyear‐endapproaches,andforecastsoftheChurch’sfinancialconditioninthefollowingyear.EstimationoftheChurch’sfinancialconditionforthefollowingyeartakesintoaccountprimarilytheamountofpledgesreceivedduringthestewardshipcampaign.AlsotakenintoaccountistheavailabilityofadditionalunrestrictedcurrentfundsintheformofC&CEandinvestments.Inaddition,theChurchmusttakeintoaccounttheportionofC&CEandinvestmentsthatrepresentRestrictedFunds,sinceRestrictedFundsareavailableonlyforparticularpurposesorforexpenditureoverparticularperiodsoftime.ThefinalbudgetisdeterminedbytheSession.TheseveralmanagersoftheChurch(e.g.,OfficeManager,MusicDirector,FacilitiesManager,CDCDirector,allunderthesupervisionofthePastorasHeadofStaff)areallocatedaportionoftheannualbudgetamountthatisestimatedtobesufficienttocovertheirordinaryoperatingexpensesduringtheyear(salaries,supplies,routinemaintenance,utilities,contractorservices,etc.).Theseareexpensesthatareroutinelyincurredeachyear.Theygenerallydonotincludeexpendituresforlarge,one‐timecapitalexpenditures;specialprojectsthatextendoveraperiodofyears;expendituresarisingfromRestrictedGifts;orinvestmentsmadetogenerateincome.


Theleveloftheannualbudgetisdeterminedprimarilybythelevelofpledgecommitmentsfortheyear,assupplementedbyotherincome(e.g.,estimatedCDCrevenues,buildingrentalfees,unpledgedcontributions,andplateofferings).Itmayalsoincludefundingfromunrestrictedfunds,TemporarilyRestrictedFunds(totheextentconsistentwithdonorintent),and/orproceedsfromthesaleofinvestmentassets,asapprovedbytheSession.ThebudgetpreparationprocessbeginswiththeFinanceCommitteerequestingbudgetsandspendingplansfromthePastor,staffandCommitteeChairs.TheFinanceCommitteeshalldevelopaprocedurethatensurescollaborationandtransparencyamongallinvolvedparties.TheSessionapprovestheannualbudgetinDecemberandpresentsitasinformationtotheCongregationattheannualmeetinginJanuary.

C. Establishment and Closure of Special Purpose Funds

TheChurchmaintainsSpecialPurposeFundsinordertotrackandindependentlyaccountforfundsthatarelimitedbydonor‐imposedorSession‐imposedrestrictionsandthereforeensurethatdonationsareusedfortheirintendedpurposes.AsnotedinsectionIV.C.(1)“SubstantialUnrestrictedGifts,”onereasonforcreatingaSpecialPurposeFundisthereceiptofanUnrestrictedgiftorbequestofmorethan$25,000thatisnotgivenaspartofanannualpledge.SuchagiftmaybeinvestedandaccountedforinaSpecialPurposeFund.RestrictedGiftsthatcanbecompletelyexpendedinthecurrentyearmayormaynotbeheldinaSpecialPurposeFund,dependingonaccountingrequirements.ASpecialPurposeFundmaybeclosedbyactionofSession.ThiscouldtakeplaceuponthedepletionofaDonorRestrictedFundorthedeterminationthataSessionDesignatedFundisnolongerrequired.

D. Types of Special Purpose Funds

SpecialPurposeFundsconsistoftwotypes:(1)SessionDesignatedFunds(sometimesreferredtosimplyasDesignatedFunds)and(2)RestrictedFunds(sometimesreferredtoasDonorRestrictedFunds).SessionDesignatedFundsareSpecialPurposeFundscreatedbytheSessionandfundedwithunrestrictedassetsoftheChurch.Theyaregenerallyintendedtobeexpendedoveranextendedperiodtime,orforaparticularpurposeoutsidethescopeofnormalrecurringoperations.However,unlikeRestrictedFunds,DesignatedFundscanbedivertedtoanotherpurposeorexhaustedatanytimebyactionoftheSession.


ExamplesofSessionDesignatedFundsincludethefollowing:

TheChurchdecidestoappropriateaportionofitsannualpledgerevenuestoaccumulateabuildingreservefundoveraperiodofyearstocoverexpectedcostsofmajorbuildingrepairsorcapitalimprovementsastheyareincurredinfutureyears.TheSessionthencreatesanewSessionDesignatedFundforthispurpose.

AdonorleavesasubstantialUnrestrictedGiftoffundstotheChurchinherwill.TheSessiondeterminesitismorethanisneededorcanbeeffectivelyusedtosupportoperationsinthecurrentyear.TheSessionthusdesignatesthefundstogointotheGeneralReserveFund,whichisaSessionDesignatedFund.

Inanunusuallygoodyear,theChurchreceivesregularcontributionsconsiderablyinexcessofitsbudgetedexpenditures,sotheSessiondecidestosetasidetheexcessinanewParkingFacilityFund.

ExamplesofTemporarilyRestrictedFundsandPermanentlyRestrictedFundsincludethefollowing:

Adonorgivesfundswiththerestrictionthattheybeusedtopayforthemaintenanceofaparticularitemofcapitalequipmentoveraperiodofyears,e.g.,theorgan.TheChurchcreatesanewTemporarilyRestrictedFundtoaccountforthefunds.

TheChurchsolicitsdonationsforaspecialgrantoffinancialaidtoasisterchurchinaforeigncountry,andthusthesolicitationisaGiftInstrument,whichrendersthesubsequentdonationsRestrictedGifts.ThesessioncreatesanewFundthatisTemporarilyRestricted,asitisdonor‐restrictedtoaparticularpurpose.

Adonorleavesabequestinhiswill,withtherestrictionthatitbeinvestedinperpetuity,withonlytheincomeavailableeachyeartosupportChurchoperations.TheChurchestablishestraditionalEndowmentFund,whichisaPermanentlyRestrictedFund.

Adonormakesaspecialgift,outsideofhisorhernormalpledge,withtherestrictionthatitbeusedtosupportaspecialprogramofeducationalmusiclessonsforchildrenovera5‐yearperiod.TheChurchestablishesanewTemporarilyRestrictedFund(alimitedtermEndowmentfundinthiscase).

ThefollowingchartillustratestherelationshipsamongtheseveralkindsofSpecialPurposeFunds.


RevenuesandexpendituresassociatedwithaSpecialPurposeFundareindependentlyrecordedandreportedperiodically,sothatdonors,staffandresponsibleChurchcommitteescaneasilymonitorrevenuesaccruingtotheFundandexpendituresfromtheFund,andthustrackthefinancialstatusoftheFund.FinancialassetsrecordedinSpecialPurposeFundsmaybeheldascashandcashequivalents(C&CE)orasinvestments,asdeterminedbytheSessionactingonrecommendationsfromtheInvestmentCommitteebasedontheestimatedrateofdepletionoftheFund.CarryoverofSpecialPurposeFunds:UnexpendedassetsinSpecialPurposeFundsarecarriedoverfromyear‐to‐yearuntilcompletelyexpended.

SpecialPurposeFunds

SessionDesignatedFunds

DonorRestrictedFunds

PermanentlyRestricted

(Endowment)Funds

TemporarilyRestrictedFunds

PurposeRestrictedFunds

TermRestrictedFunds

Pass‐ThroughAccounts(Liabilities)


ComminglingofRestrictedandUnrestrictedAssetsinSpecialPurposeFunds:TheSessionmayappropriateUnrestrictedfundstoaDonorRestrictedFund,resultinginthecomminglingofRestrictedandUnrestrictedfunds.Insuchevent,theUnrestrictedassetsshallbeseparatelyaccountedforasaSessionDesignatedFund,whichmaybereleasedanddivertedtootherpurposesatanytimebyactionoftheSession,unlessanduntiltheyhavebeenreleasedandexpendedinaccordancewiththepurposeoftheRestrictedFund.

E. Budget and Fund Expenditures

1.SessionRoleinDelegations

TheSessiondetermineswhohasauthoritytoinitiateexpenditureswithinthelimitsoftheannualbudgetandalsowhohasauthoritytomakeexpendituresfromSpecialPurposeFunds.SessionhasdelegatedtheauthorityforannualbudgetexpendituresandcertainSpecialPurposeFundexpenditurestothePastorasHeadofStaffandtodesignatedCommitteeswithinthelimitsofannualspendingplans.TheHeadofStaffhasinturndelegatedday‐to‐dayresponsibilityforroutineandapprovedbudgetexpenditurestocertainindividualstaffmembers.AsHeadofStaff,heorshecanchangethesedelegationswithoutSessionapproval.TheHeadofStaffshallprovidetheTreasurerandFinanceCommitteewithadetailedlistofdelegatedauthorityandinformthemimmediatelyofanychanges.TheSessionhasdelegatedtocommittees,asrepresentedbytheChairsortheirdelegees,theauthoritytomakeexpendituresfromSpecialPurposeFundswithinthelimitsoftheannualapprovedspendingplanforeachFund.Insomecases,Committeeshavedelegatedtheirresponsibilitytoastaffperson,withtheapprovaloftheheadofstaff,ortothechairoramemberoftheircommittee.DelegationsbythecommitteesmaybechangedwithoutSessionapproval,butthecommitteechairsmustnotifytheTreasurerandFinanceCommitteeofsuchchanges.TheTreasurershallmaintainalistofpersonsapprovedtomakeexpenditures.TheFinanceCommitteeshallperiodicallyreviewthisFinancialPolicyManualandensurethatitisuptodateconsistentwithSessiondirection.

2.DelegationsinOperation

ThissectionoutlinesthedelegationsineffectasofthemostrecentversionofthisPolicy.Churchmanagersgenerallyhavetheauthoritytomakebudgetexpenditures.Forexample,theFacilitiesManagerisauthorizedtomakeroutineexpendituresforoperationalpurposes,withinthelimitsofthebudgetforfacilityexpenses,andtheOfficeManagerisauthorizedtospendofficeexpenselineitems.


Somestaff,suchasthePastor,MusicDirectorandCDCDirector,haveauthoritytospendbudgetedlineitemsaswellasauthorizeexpendituresfromparticularSpecialPurposeFundsforwhichtheyhavebeendelegatedresponsibility.Further,whileCommitteesaregenerallygiventheauthoritytoauthorizeexpendituresfromparticularSpecialPurposeFunds,andinsomecasesaregiventheauthorityoverbudgetlineitems.

3.ExecutionofBudgetandSpendingPlans

Duringthefiscalyear,managersandCommitteeChairsareexpectedtoexertreasonableeffortstoachieveestimatedrevenueprojectionsandtolimittheirexpendituresovertheyeartotheamountsandpurposesapprovedinthebudgetandspendingplans.IntheeventsubsequentcontributionsaremadetoanexistingFundduringafiscalyear,suchcontributionsdonotincreasetheamountofauthorizedexpendituresfromtheFund,unlessapprovedbytheSession.Duringthecourseoftheyear,responsibleManagersandCommitteechairsinitiateexpendituresbythesubmissionofacheckrequestalongwithsupportingdocumentationtotheBusinessOffice.TheBusinessOfficeissuestherequestedcheckandforwardsittotheintendedrecipient.TheTreasurershallissuetimelyreportsshowingmonthlyexpendituresandrevenuescomparedwithapprovedbudgetandspendingplans.ResponsiblemanagersandCommitteeChairsshallreviewthesereports.Intheeventofapotentialshortfallinrevenueoranunanticipatedexpense,theresponsiblepersonshallworkwiththeFinanceCommitteeandtheSessionasnecessarytoresolvetheproblem.Forexample,intheeventunanticipatedbuildingexpensesarise,theFacilitiesCommitteemayproposetotheSessionthatitbeauthorizedtoexpendadditionalfundsfromtheBuildingReserveFund.IftheSessionapprovessucharequest,theChairoftheFacilitiesCommittee,workingwiththeFacilitiesManager,isauthorizedtoapprovesuchexpenditure.FurtherguidanceontheadministrationofFundsissetforthinAppendixF,whichincludesalistofactiveSpecialPurposeFundsandthemanagerand/orCommitteeChairresponsiblefortheirmanagement.DescriptionsofFundsareinAppendicesF‐1throughF‐8.TheFinanceCommitteemonitorsrevenuesandexpendituresonamonthlybasistoidentifypotentialoractualvariancesfromtheapprovedbudgetandspendingplans.TheFinanceCommitteeshallbringanyconcernstotheresponsiblestafforCommitteechairsandtotheSessionasneeded.


VIII. Accounting and Financial Reporting Practices

A. Restricted and Unrestricted Gifts

TheChurchstrictlyaccountsforallRestrictedandUnrestrictedgifts.SpecialaccountsaresetuptotrackbothDonorRestrictedgiftsandmoneydesignatedbytheSessionforspecialpurposes.IncompliancewithFASB117,financialstatementsarepreparedshowingnetassetsclassifiedintounrestricted(includingSessiondesignated)funds,temporarilyrestrictedfunds,andpermanentlyrestrictedfunds.Thisimplementswhatiscommonlyreferredtoas“FundAccounting,”whichisasystemofaccountingandfinancialreportingthatisparticularlyusefulfortrackinggiftrevenuesthathavebeenrestrictedtospecificpurposes,programsorprojects.Bywayofbackground,for‐profitorganizationsusetraditionalaccountingsystems,whicharedesignedtopresenttoinvestorsthefinancialconditionoftheorganizationanditsprofitability.Incontrast,nonprofitorganizationstypicallyhaveadifferentobjective,whichistopresenttheirfinancialconditioninamannerthatfacilitatestransparentaccountabilitytodonors,grantorsandothersourcesofnonprofitfunding.Consequently,nonprofitorganizationsusethenetassetsclassificationmethodofreporting,asprescribedbytheU.S.FinancialAccountingStandardsBoard(FASB).Inadditiontothenetassetsreportedonthebalancesheet,otherreportsarepreparedtoallowvolunteerleaders,Churchmanagers,anddonorstoreviewrevenueandexpendituresrelatedtoRestrictedFunds.AnyamountremaininginaDonorRestrictedFundoraSessionDesignatedFundattheendofafiscalyeariscarriedforwardintothenextyear,sothatdonorsorfundmanagerscantrackthedispositionoftheirgiftsfromyeartoyearuntiltheyarefullyexpended.Thisisunlikethetreatmentofunrestrictedoperatingfundsthatareallocatedtovariouslineitemsoftheannualbudget,whicharenotcarriedoverifnotusedbytheendoftheyear.AppendixFsetsforth:(1)asummaryoftheprocessforestablishingandmanagingSpecialPurposeFunds;(2)alistofactiveSpecialPurposeFunds,togetherwithFundaccountnumbersandtheidentityoftheresponsibleCommitteeChairorFPCemployeehavingspendingauthorityovertheFund,and(3)thecurrentFundIdentificationDocumentforeachFund,whichsetsforthpertinentinformationregardingtheFund.TheoverallpolicyregardingtheinvestmentoffinancialassetsrecordedinSpecialPurposeFundsmaybesummarizedasfollows:

SpecialPurposeFundsthataresmallinamount,orforwhichtherearefrequenttransactions,orwhichare''flow‐through"Funds;aregenerallyheldasCashand


CashEquivalents,andinterestearnedwillbecreditedtotheOperatingFund.TherationaleforthispolicyisthatsuchFundsgeneratesmallamountsofinterestandreallocationofsmallamountsconsumesagreatdealofaccountingtime.

AFundthatisrarelyused,orwhichisintendedtobeexhaustedoveranextendedor

indefiniteperiodoftime,suchasalargeDonorRestrictedFund,maybeinvestedasdeterminedbytheTreasurerandtheInvestmentCommittee.EarnedincomefromsuchinvestmentsmaybereinvestedandallocatedtotheFund,dependingupontherequirementsofthedonorortheSession.

TransactionsandbalancesassociatedwithSpecialPurposeFundsarereportedtotheFinanceCommitteeandtheresponsiblemanagersorCommitteeChairsonamonthlybasis,totheSessiononaquarterlybasis,andtotheCongregationonanannualbasis.

B. Financial Reports

Onaquarterlybasis,theTreasurerpreparesandpresentsafullsetoffinancialstatementstoSession.ThisincludesaStatementofFinancialPosition,StatementofActivity(comparedtobudget),CashFlowStatement,andaReportofFundActivity.PriortoSession,theFinanceCommitteereviewsthesestatementsindepthandprovidesitsinputtoSession.Further,theFinanceCommitteeseesandreviewsmonthlydetailedfinancialstatementsandpresentstoSessionasummaryofyear‐to‐datetotalincomeandexpense.TheBookkeeperprovidesmonthlydetailedincomeandexpensereportstoCommitteesandtothePastorandstaffwhohavebudgetresponsibilities.Thesereportsareexpectedwithinthefirsttwoweeksafterthecloseofthemonth.ThequarterlyfinancialreportsarepublishedontheFPCwebsitefortheCongregationtoview.Theyear‐endStatementofFinancialPosition,StatementofActivity(comparedtobudget),andaReportofFundActivitySummarizedbyCategoryarepresentedtotheCongregationatitsannualmeetinginJanuary.

C. Annual Audit and Reports

Eachyear,asrequiredbytheBookofOrder(SectionG‐3.0113),“Afullfinancialreviewofallfinancialbooksandrecordsshallbeconductedeveryyearbyapublicaccountantorcommitteeofmembersversedinaccountingprocedures.”AnnuallytheFinanceCommitteeshallrecommendtoSessiontheproceduresandpersonnelwhowillconducttheannualaudit.AfterSessionapproval,theFinanceCommitteewillarrangefortheaudit/reviewbyanoutsideauditororaFinancialReviewCommittee.(SeeAppendixA.)Theauditors/reviewersshallpresenttheirfindingstotheSession.IfSessionacceptstheaudit,theresultsshallbesharedwiththefullCongregation,alongwithanyadjustmentsrequiredinthefinancialstatementspresentedtotheCongregationearlier.


IX. Benevolence Policy

A. Background

FPCengagesinmodestbenevolenceactivitiesintheformofdirectprovisionoffinancialsupportforthebenefitofindividualsandfamiliesinneedintheSantaFearea.TheseactivitiesaredistinctfromotherFPCcharitableactivitiesthattypicallytaketheformofdonationstoothercharitiesandnonprofitorganizations.Tothisend,theChurchmaintainsaSpecialPurposeBenevolenceFundthatisfundedbydonationsandoccasionalofferingsapprovedbytheSession.TheBenevolenceFundisseparateanddistinctfromthePastor’sdiscretionaryaccount,whichisabudgetedlineitemavailableforprovidingassistancetoFPCMembersorothersinneed.ItisalsoseparateanddistinctfromtheMiscellaneousEmergencyOfferingsFund(fordisasterrelief);theMiscellaneousOtherCharitiesFund(fordonationstoothercharitableorganizations);andboththeCongregationalEmergencyAssistanceFundandtheDeaconsFund(thelattertwoofwhichexisttosupportFPCMembersandtheirfamiliesinneed).

B. Purpose and Administration of Benevolence Fund

TheprimarypurposeoftheBenevolenceFundistofurnishdirectfinancialassistancetoindividualsandfamiliesinneedintheSantaFecommunitywhoarenotMembersoftheChurch.However,theFundmaybeusedtosupportfinancialassistancetoMembersorStaffoftheChurchinneed,intheeventotherFPCsourcesoffundsareinsufficient.(Applicabletaxreportingrequirementswillbeobserved.)ThesepurposesareachievedthroughdirectdisbursementsunderthedirectionofaBenevolenceCommittee,whichconsistsofthePastorasChair,amemberoftheMissionandSocialJusticeCommittee,andanordainedElderappointedbytheSession.

C. Oversight and Accountability

TheBenevolenceCommitteeisaccountabletotheSessionfordischargingtheresponsibilitiessetforthbelow.

D. Revenues

SourcesofrevenuesfortheBenevolenceFundaregiftsfromMembersandfriends,whichareacceptedatanytime,andspecialofferingsauthorizedbytheSession.GiftsearmarkedfortheBenevolenceFundmustbeidentifiedassuch.Theymaynotbeearmarkedorotherwiserestrictedtospecificindividualrecipients,althoughdonorsarefreetorecommendindividualrecipientstotheBenevolenceCommittee.


E. Requests for Benevolent Assistance

ArequestforfinancialassistancemustbedocumentedbytheBenevolenceCommitteememberassistingtheperson.TherequestmustbesignedanddatedbytheapplicantandtheCommitteemember.TheCommitteemembertakingtherequestwillalsorequestverificationofneedintheformofsupportingdocumentationortheapplicant’sconsenttocontactthird‐partyreferencesforconfirmation.

F. Guidelines for Selection of Recipients

DisbursementsfromtheFundunderthisPolicyarelimitedtoindividualsinneedandtheirfamilies.Benevolenceassistanceisintendedasasourceoflastresort,tobesoughtonlywhenanindividualhasexhaustedotherpossibilitiesofhelpfromfamily,friends,savingsandsocialwelfareprograms,includingothermissionresourcesoftheChurch.Itisintendedtobeasourceoftemporaryassistanceduringatimeofcrisis.Assistanceisgenerallyintendedtobeaone‐timegift.Inspecialcircumstances,theCommitteemaymakemultipledisbursementsoveraperiodoftime.Nobenevolentdisbursementistobeconsideredaloan.Repaymentwillnotberequestednoracceptedassuch,eitherinpartorinfull.IfarecipientdesirestogivetotheChurchatalaterdate,heorsheshouldbeencouragedtogivedirectlytotheChurchwithoutqualification.TheCommitteeshallmakeareasonableinquiryofanyindividualseekingassistance,toensurethathisorherneedislegitimateandthattheindividualisaccuratelyrepresentinghisorherfinancialsituation.TheCommitteemayconditionfinancialassistanceonreceiptofverifyingdocumentationorcommunicationsfromthird‐partyreferencesverifyingtheneedoftheindividual.Personsrequestingassistancemustalsobewillingtoacceptfinancial,family,occupationaloremotionalcounseling.TheCommitteewillnotprovideassistancetoanyonewho,initssoleopinion,islikelytosquandersuchassistancethroughnegativeorirresponsiblebehavior.Generally,assistancewillnotexceed$1,500perpersonorfamily.(ThisisacumulativecapinthecaseofsomeonewhoreceivesmorethanonegiftfromtheFund.)Inveryunusualcircumstances,familiesandindividualswhoareinneedofadditionalfundsandwhohavetheopportunitytomakealife‐changingdecisioncancontinuetobeassisteduptowhateverlimittheCommitteedeemsappropriate,subjecttotheavailabilityoffunds.Suchcasesshallbereviewedcarefullyand,whenappropriate,thecaseshouldbesubmittedtotheSessionforapproval.


G. Types of Assistance

ThestatedpurposeoftheBenevolenceprogramistomeetbasicneedsofindividualsandtheirimmediatefamilies.Normally,theseneedsare:

Food. Lodging. Clothing. Medicaltreatment. Transportationtoorfromaplaceofemployment. Funeralexpenses. Initialevaluationanduptotwoadditionalprofessionalcounselingappointments.

NeedsthatmaynotbemetbytheBenevolenceprograminclude:

Privateschoolfeesortuition,businessinvestments,oranythingthatisintendedtogenerateincometotheindividualorfamily.

Payingoffcreditcarddebt(exceptionmaybemadewhenanindividualhashadtouseacreditcardinacrisisoremergency).

Legalexpenses. Finesorpenaltiesrelatingtolatepaymentsorirresponsibleactions.

Financialassistanceforcounselingwillbeconsideredifitisdeterminedthatcounselingwoulddirectlyenabletheindividualtoaddressacurrentfinancialsituation.Inmostcases,thisislimitedtoaninitialcounselingappointment.Underspecialcircumstances,additionalassistancemaybegiven.

H. Processing of Requests and Disbursement of Funds

RequestsforassistanceshallbesubmittedtotheCommittee,whichshallreviewtherequest,reachadecision,andnotifythepersonmakingtherequestofthedecision.Whilerecommendationsofrecipientsfromdonorsorotherswillbeconsidered,alldecisionsoftheCommitteeshallbemadeindependentlyandshallbefinal.TheCommitteeshallsubmitsummaryreportsofitsdecisionstotheSession.PersonallyidentifiableinformationshallbereportedtotheSessiononlyuponitsrequest,andonlyinaconfidentialexecutivesessionoftheSession.Otherwise,suchinformationshallbemaintainedinconfidencebytheCommittee.Tothemaximumextentfeasible,disbursementsofcurrencydirectlytothebeneficiarywillbeavoided.DisbursementswillpreferablybemadeintheformofdirectpaymentfromFPCtoserviceproviders(e.g.,bydirectpaymentsofrentorutilitybills,purchaseofgrocerystorecashcards,etc.).


X. Internal Controls

TheleadershipoftheFirstPresbyterianChurchrecognizestheneedforstronginternalaccountingcontrolstoprotecttheChurchanditsstaffandvolunteerswhohandlemoney.Strongcontrolshelppreventtheft,helpdiscovererrorsinatimelyfashionsotheycanbecorrected,andalsoprotectvolunteersandstafffromunfoundedsuspicionofwrongdoing.FollowingaretheinternalcontrolsadoptedbytheSession.

A. Session Responsibility

Inadditiontosettingtheinternalcontrols,itisthepolicyoftheSessionto: Regularlyreviewfullfinancialstatements.TheSessionwillreviewfullfinancial

statementsonaquarterlybasisandabbreviatedfinancials(income,expense,net)betweenquarterlyreviews.TheFinanceCommitteewillreviewfullfinancialstatementsmonthly.

Adoptanannualbudgetandcompareactualstothebudgetatleastquarterly. Maintainandperiodicallyreviewallfinancialpolicies. EnsurethatanyIRSnoticesareopenedbysomeoneotherthantheBookkeeper. Divideandsegregatedutiesrelatedtofinancessothatnoonepersonhandlesall

aspectsofatransactionfrombeginningtoend. DesignatesomeonetobeTreasurerwhoisnottheBookkeeper. Designateotherpersonsauthorizedtoopenbankaccounts(asof2016Clerkof

Session/CorporateSecretary). Designatesignatoriesonbankaccounts(asof2016Treasurer,President,andVice

President). Ensurethatanystafforvolunteerswhohavetheabilitytoedittheaccounting

recordsnothaveaccesstoFPCcashorcashequivalents,unlesscompensatingcontrolsareinplace.4

Ensurethatafinancialreviewofallfinancialrecordsisconductedeachyear,eitherbyapublicaccountantoracommitteeofmembersversedinaccountingprocedures.SessionshouldapprovetheauditfirmorauditcommitteeuponrecommendationoftheFinanceCommittee.

4“Compensatingcontrols”includetimelymonthlyreviewofaudittrailsavailableintheaccountingsystems;inspectionsofsetups,entries,orexternalsources;orothersimilaraccountingpracticestypicallyusedwhenlimitedstaffresourcesprecludestrictcompliancewiththesepolicies.


B. Cash Receipts

1. Collections

Moneyreceivedduringcollections(e.g.,Sundayofferings,TGIF,Deaconssoupsales,men’sbreakfast,retrievaloffundsfromdonationbox)shallbeinplainsightofatleasttwounrelatedpersonsuntilitisplacedinthesafe(preferablycountedandinasealedenvelopesignedbybothpersons).

Anydonationsearmarkedforanotherorganizationshouldbereviewed.Ifitisapreviouslyapprovedorganization,itmaybedeposited.(SeeSectionIV.C.2“GiftsSubjecttoReview”andTable5.)Ifnot,itshouldbeheldoutandbroughttotheattentionoftheTreasurer.

Nolessthanonceaweek,atleasttwodesignatedandunrelatedcountersshouldtakeallenvelopesfromthesafeandtakethemtoasecurelocationtocountanyuncountedfunds.

Eachpersonshallinfullsightofeachothercountthecashandthechecks,andallchecksshallbeendorsedwitha“ForDepositOnly”stamp.

Thetotalofcashandchecksshallberecordedonasummaryformandadepositticket.

ChecksandotherdocumentsshallbecopiedandgiventotheBookkeeperalongwiththesummaryanddepositticket.

Countersshalleithertakethemoneytothebankfordepositorplaceitinsealedandsignedenvelopeandputitbackinthesafeforsomeoneelsetodeposit.

ThepersondesignatedtotakethemoneytothebankfordepositshallnotbetheTreasurer,BookkeeperorOfficeManager,unlesscompensatingcontrolsareinplace(e.g.,countersprovidingcopyofdepositsliptoBookkeeperinadvance).

TheBookkeepershallrecordthepaymentsintothemembershiprecordsand/oraccountingsystemassoonaspossible,andnolaterthanoneweekafterreceipt.

AllcollectionsmustbedepositedintheFPCcheckingaccount.Nodisbursementmaybemadefromundepositedcollections.

AllSundaycountersarerequiredtoholdallinformationconfidentialandtosignaformindicatingthisandthattheywillfollowtheaboverules.TheCountersCoordinatorensuresthatnewcountersaretrainedandsigntheform.(SeeAppendixEandFormentitled“FPCAgreementforOfferingCounters.”)

2. MoneyReceivedbyMail

Someonewithoutaccesstothemembership/donororaccountingsystem(seeTable4)shallbedesignatedtoopenthemail,unlesscompensatingcontrolsareinplace.


Anydonationsearmarkedforanotherorganizationshouldbereviewed.Ifitisapreviouslyapprovedorganization,itmaybedeposited.(SeeSectionIV.C.2“GiftsSubjecttoReview”andTable5.)Ifnot,itshouldbeheldoutandbroughttotheattentionoftheTreasurer.

Enclosedchecksshallbeimmediatelyendorsedwitha“Fordepositonly”stamp. Moneyandsupportingdocumentationshallbesecuredinasealedenvelopeand

placedinthesafe. Largechecksmaybedepositedatthebankduringtheweek,andthedepositslip

andbackupinformationgiventotheBookkeeper. AnymoneypresentinthesafeonSundayshallbecountedalongwiththeSunday

offeringbyregularchurchcounters.

3. RentPayments

TheFacilitiesManagerandOfficeManagermaycollectrentchecksinperson. Thechecksshallbestamped“ForDepositOnly”andimmediatelydepositedin

thebankorplacedinanenvelopeinthesafe. RentchecksmaybedepositedbytheOfficeorFacilitiesManager. CopiesofthechecksandthedepositticketshallbegiventotheBookkeeper.

4. Tuition

TheCDCDirectorusesadatabase(which,atthiswritingin2016,iscarriedasaseparate“company”ontheaccountingsystem)totrackinvoicesandpayments.

TheCDCDirectorinvoicestheparentsbasedoncontractedratesandadjustments.

ParentsturninpaymentstotheCDCDirectorordesignee. Preschoolpaymentsareheldinalockeddraweranddepositedonceaweekby

theDirectorordesignee. CopiesofchecksareturnedinwithdepositsliptoBookkeeper(markedasCDC

tuition). TheBusinessOfficetransmitsorotherwisemakesavailableonlinetotheCDC

DirectorinformationrelatingtoCDCtuitionpayments. TheCDCDirectorentersallpaymentsintoherdatabase. TheCDCDirectormaintainscompleterecordsofCDCattendance,invoicesand

payment Attheendofthemonth,afulllistofinvoicesandpaymentsareturnedintothe

Bookkeeper. TheBookkeeperandTreasurerreviewthemonth’sinvoicesandpayments. TheTreasurershallperiodicallyreviewattendancerecordsasdeemed

appropriate.


5. ElectronicPayments

SomeonewithnoeditingaccesstotheaccountingormembershiprecordsshallestablishandmaintainthelinkfromtheChurch’sEFTprocessorsforonlinepaymentsandsales(seeTable4)totheChurch’sbankaccount,unlesscompensatingcontrolsareinplace(e.g.,dualorperiodicreviewsofthesetup).

TheBookkeeperorotherdesigneeshallenterdonationsandpaymentsintothemembershipandaccountingsystems.

6. DonorStatements

TheBookkeepersendsquarterlystatementsorotheracknowledgementtoalldonors.

TheTreasurerorBookkeeperpromptlyfollowsuponanydiscrepanciesbetweendonorandChurchrecords.

7. SpecialDonations

TheStewardshipCommitteeadministersthepolicyonAcceptanceandManagementofGiftsandDonations(SectionIV).

Donationsofstockareusuallyconvertedtocashimmediatelybythebrokeragefirm(seeSectionIV,C.1“Stocks,MutualFundsandOtherSecurities”).

Donationsofgoodsareinspectedandvaluedforinternalaccountingpurposesonly.

Donationsofprofessionalservicesarevaluedattheirnormalbillingrateandrecordedintheaccountingsystem.

TheTreasurersendsacknowledgementletterstoalldonorsofspecialdonations.

C. Cash Disbursements

1. Checks

ItisthepolicyofFPCtoordinarilypayvendorsbycheckforgoodsorservices. TheTreasurer,corporatePresident,andcorporateVicePresidentarethe

authorizedchecksigners.(SeeTable3fornamesofcurrentofficers.) Checksfor$5,000andovermustbesignedbytwoauthorizedchecksigners. Thedollarlimitshallbeprintedonthechecks. Checksshallalsohave“Notvalidafter90days”printedonthechecks. Voidedchecksaremutilated(signatureportionremoved)andsaved. Nooneisallowedtosignachecktohim/herself.Further,someoneotherthan

therecipientofthepaymentshallalsosigntheauthorizationform.


Allpaymentrequestsshallhavebackupdocumentationandacheckrequestformproperlycompletedandauthorized.(SeeCheckRequestForm.SeealsoAppendixC“ExpenseReimbursementPlan.”)

W‐9sarerequiredforallcontractorsorvendorsthatarenotincorporated. ThisFinancialPolicyidentifieswhichstaffpersonsandvolunteerleadershave

theresponsibilitytoauthorizepaymentsoutofbudgetedlineitemsorRestricted/Designatedfunds.(SeeSectionVI.E.“BudgetandFundExpenditures”andalsoTables1and2attheendofthisdocument.)

ChecksrequestsanddocumentationaregiventotheBookkeeper,whoentersfullydocumentedrequestsintotheaccountingsystemandcutsthecheck.

TheBookkeepergivestherequestform,backupdocumentation,andchecktothechecksigner.

Thechecksignercomparesthechecktotherequestanddocumentationandsignsthecheck.

Thechecksarethenmailedandthedocumentationfiled.

2. AutomaticElectronicPayments

FPCcurrentlylimitsautomaticpaymentstoutilities,copierserviceandpensionandbenefitspaymentstotheBoardofPension,only.

Anauthorizedchecksignermustapprove/signanyautomaticbankpaymentagreements.

Statementsfromthevendorgotothepersonwhoisauthorizedtomaketheexpenditure(e.g.,utilitybillsgototheFacilitiesManager).Thispersonfillsoutandsignsarequestformandsecuresanyotherauthorizationneeded.

ThestatementandformareturnedintotheBookkeepertocomparewiththebankdraft.

3. PettyCash

TheOfficeManagermaintainsapettycashboxofapproximately$100. Staffandvolunteerswhorequestanadvanceorreimbursementforanexpense

shallprovidetheOfficeManagerwithdocumentationoftheexpense. Pettycashisreconciledwhenadditionalmoneyisneeded,oratleastquarterly. Noreimbursementshallbemadefrompettycash. Personsneedingreimbursementmustsubmitcheckrequestandappropriate

documentation.


4. CreditCards

FPChasthreeChurchcreditcardsissuedtotheOfficeManager,FacilitiesManager,andCDCDirector.

CreditcardlimitsaresetbySessionuponrecommendationbyFinanceCommittee.

FPCcreditcardsaretobeusedonlyforFPCpurposes—noprivateuseisallowed.

Nocashadvancesareallowed. Onlinepurchaseswillbeaccompaniedbyanorderconfirmationandapacking

slip,asappropriate. Thecreditcardholdersholdreceiptsuntilthestatementcomesin.Theythen

compilethereceiptsandstatementswithapaymentrequestformandsubmittotheBookkeeperbeforethepaymentdeadline.(Thepaymentrequestformmustbesignedbytheperson(s)neededtoauthorizetheexpenses.)

TheBookkeeperreconcilesthereceiptswiththecreditcardstatement. Ifallreceiptsareprovidedandallexpendituresproperlyapproved,the

Bookkeepercutsthecheckanditissignedbyanauthorizedsigner. Toavoidinterestcharges,thecreditcardbalanceshallbepaidinfulleachmonth

priortothedeadline. Allrebatesorrewardsearnedonthecardaccountwillbedepositedinthe

ChurchaccountorotherwiseaccruedtothebenefitoftheChurch.

D. Bank Statements

TheSessionapprovestheestablishmentofnewbankaccounts. TheClerkofSessionopensthebankstatements,reviewsforreasonableness,and

initialseachpageofthestatement. TheClerkofSessionshallensurethathe/shereviewsthestatementfromeach

bankeachmonth. TheBookkeeperreconcilesthebankstatementwiththeaccountingrecords

beforethemonth‐endclosing. TheTreasurerreviewsthereconciliation. Bothreviewerslookforanyunknownvendors,anychecksnotproperlysigned,

anypaymentsthatappeartobeduplicated,anyunexplainedout‐of‐orderchecknumbers,andanythingelsethatappearstobeoutoftheordinary.

Thereviewerswillreviewopenitemsonreconciliations,suchasdepositsonbooksbutnotbankstatements,paymentsonbankstatementsbutnotonbooks,andunreconcileditemsover30daysold.


E. Vendors

Treasurershallreviewtheestablishmentofnewvendorsandotherpayeesintheaccountingrecordspriortoanyinitialpayment,includingtheverificationofvendorname,address,phone,taxID,email,andbankinginstructions.

Treasurershallreviewlistofapprovedvendorsquarterly,includingamountspaid.

FinanceCommitteeshallreviewthelistofvendors/payeesannually,includingamountspaid.TheCommitteeshallincludethelistinareporttotheSession.

F. Payroll

TheSessionauthorizesanynewhires,includingtheircompensation,andchangesincompensationforexistingstaff.

TheClerkofSessionnotifiesthepayrollclerk,BookkeeperandTreasurerofanysuchchanges.

Payrollishandledbyanoutsidepayrollprocessor. Thepayrollclerks(currentlytheOfficeManagerandCDCDirector)record

changestothepayroll(newhires,compensationchanges,andterminations)ontheonlinepayrollsystem.

Thepayrollclerk(s)phoneinthehoursworkedforeachemployee,vacationused,etc.,forthebiweeklypayroll.

Allemployeetimesheetsshallbesignedbytheemployee’simmediatesupervisor.

Allemployeesreceivepaymentsbyelectronicfundstransfertotheirbankaccounts(exceptforafinalpayment).

Thepayrollprocessorautomaticallysendsrequiredpayrolltaxpaymentstothestateandfederalgovernments.

Otherwithholdings(retirement,etc.)arepromptlyforwardedbytheTreasurertotheappropriatevendor.

TheBookkeeperreceivesthepayrollreportfromthepayrollprocessorandentersdataontotheaccountingsystem.

TheTreasurerreviewsthepayrollentryandthepayrollreportandcomparesittoinformationreceivedregardingpayrollchanges.

G. Investments

ThereisawritteninvestmentpolicyapprovedbySession(seeSectionVandAppendixDandseevendorsinTable4).

TheInvestmentCommitteewillmakerecommendationstotheSessionontheallocationofinvestmentsincompliancewiththeinvestmentpolicy.

OnceSessionhasapprovedtheallocations,theChairoftheInvestmentCommittee,Treasurer,President,andVicePresidentareauthorizedtomove


fundsinaccordancewithSessionapprovedguidelines.TheTreasurerandChairoftheInvestmentCommitteeeachreceiveemailnotificationsfromthebrokeragefirmconfirminganyfundmovements.

TheInvestmentCommitteereviewsinvestmentstatementsquarterlytodeterminethatinvestmentsareincompliancewithpolicyandtoevaluatetheneedforallocationchanges.

InvestedfundsarewithdrawninaccordwithguidelinessetbySession.ThoseauthorizedtowithdrawfundsarethePresident,VicePresident,andTreasurer.FundswithdrawnaresentbychecktoFPCortransferreddirectlyintoFPC’scheckingaccount.

H. Physical Assets

AcquisitionsanddisposalsofchurchpropertyrecordedasanassetontheChurchfinancialrecordsorinventoriesareapprovedbySession.Managersareauthorizedtodisposeofsupplies.

TheFacilitiesManageroverseesthesecurityofart,furniture,fixtures,andcomputers.

TheFacilitiesManager,workingwiththeHistoryCommittee(fortheart)andtheOfficeManager,makesalistofanyacquisitionsordispositionofsuchassetsthroughouttheyear.

TheFacilitiesManagerandOfficeManagertogether(alongwithaHistoryCommitteememberasappropriate)conductanannualinventoryofart,furniture,fixtures,andcomputers.

TheTreasurerreviewstheresultsoftheinventoryandchanges.

I. Computer Security

TheTreasurershallapprovewhohaswhattypeofaccesstothecomputeraccountingsystems.

TheTreasurerandtheBookkeepershallreviewalistofthosepersonswhoaccessedtheaccountingsystemseachmonth.

TheTreasurershallreviewthelistofpersonnelwithaccesstotheaccountingsystemsannuallyandpresentthelisttotheFinanceCommittee.

TheOfficeManagerisresponsibleforcomputersecurityandworkswithaprofessionalITservicecontractor.

Allcomputerfilesarecontinuallybackedupintothecloud. Thenetworkhasacurrentlyvalidinternetsecuritysoftwarepackage,which

includesanti‐virus,anti‐malware,contentfilteringandfirewallwhichisthefirstlineofdefense.

Eachcomputerhasanti‐virussoftware.


Networkedcomputersandlaptopsarekeptinlockedrooms. Userswhocanchangedatahaveuniqueloginsandpasswords.

J. Safe

Sessionshallapprovewhohasaccesstoanysafecombination. Safecombinationsshallbechangedannually,andafterdepartureofanyemployee

orvolunteerwhohasaccesstothecombination. TheClerkofSessionshallmaintainthecombinationsinasealedandtapedenvelope

foremergencyuse.

K. Debt

Anyborrowing,withtheexceptionofcreditcarddebtwithinthecreditlimitsofthecardaccount,mustbeapprovedbyactionoftheSessionrecordedinitsminutes.

DetailsonmanagementofdebtisdecidedbySessionattimeofincurrenceofdebt.

L. Bonding

TheSessionmayrequireasuretybondofanyOfficer,Elder,Deacon,orMemberoftheCongregationwhohaveaccessto,orareinchargeof,orcontrolfundsoftheChurch.

TheChurchmaintainsemployeedishonestyinsurancecoveringagainsttheftbyemployeesorvolunteers.

Anyinstancesoftheftthatarediscoveredarereportedtotheinsurancecarrier.


XI. Insurance and Risk Management


TheBookofOrder(G‐3.01112)requireseachSessiontoobtainpropertyandliabilityinsurancecoveragetoprotectitsfacilities,programs,staffandelectedandappointedofficers.Theroleofchurchesischangingandwithittheneedforchurchboardstoreviewwaystoprovideadequateinsuranceforallpropertydamage,accidentandliabilitysituations.Gonearethedayswhenthechurchactivitieswerelimitedtoweekendservices,specialholidayfunctionsandchurchdinners.Today,thechurchisthehubofdiverseactivitiesincludingfundraisingevents,preschoolprograms,socialactiongroups,scoutsandothermeetings.Manychurcheshaverelatedpropertysuchasschools,gymnasiums,nursinghomesandcemeteries.Congregationsareinvolvedinmanyoff‐premisesactivitiessuchascamps,excursions,tours,outingsandretreats,manyofwhichrequiretheuseofbusesandothermotorizedequipment.Inaddition,thereistheexposuretovandalism,riots,bombingsandarson.Withallthisinvolvement,thechurchhasincreasedliabilityoverthechurchof50yearsago.Thetaskofadequatelyinsuringthechurchagainstmanysituationsbecomescomplicated.ResponsibilityforriskmanagementandinsuranceatFPCresideswiththeTreasurerinconsultationwiththeFinanceandFacilitiesCommitteesandtheFacilitiesandOfficeManagers.TheFinanceCommitteeshallrecommendtotheSessionaprogramofinsurancewithapprovedbrokersand/orinsurersdulylicensedinNewMexico.TheFacilitiesManagerisconsideredtheRiskOfficerforFPCandthereforeisresponsibleforissuessuchassecurity,safetyandincidentreporting.ThePC/USAhasanOfficeofLegal/RiskManagementthatwelcomesquestionsatanytimeintheareasofInsuranceforchurches.PC(USA)haspublishedandcontinuestoupdateaManualentitled“LegalResourceManualforthePresbyterianChurch(USA)MiddleGoverningBodiesandChurches.”

B. Delegation of Insurance and Risk Management Functions

SubjecttotheapprovaloftheSession,theFinanceCommitteemaydelegatetoanexternalagent(insurancebrokeroragent)themanagementofthebidprocess.Inenteringintoanysuchdelegation,theSessionandtheFinanceCommitteeshallactingoodfaith,withthecarethatanordinarilyprudentpersoninalikepositionwouldexerciseundersimilarcircumstances,in:

Selectingabrokeroragent.


Establishingthescopeandtermsofthedelegation,consistentwiththepurposesoftheChurchneedsandriskmanagementpolicies.

Reviewingtheagent’sactionssemi‐annuallyinordertomonitortheagent’sperformanceandcompliancewiththescopeandtermsofthedelegation.

AnyagentappointedbytheChurchshallberequiredtosubmittothejurisdictionofthecourtsofNewMexicoinanyproceedingsarisingfromorrelatedtothedelegationortheperformanceofthedelegatedfunction.

C. General Insurance Guidelines

TheFinanceCommitteeshallreviewandreporttoSessiononFPC’sinsuranceprogramannually.AnnualauditoftheChurchfinancesshallincludeverificationthatinsurancebillshavebeenpaid.Insurancepackagesand/orprogramsshallbebideverythreeyears.InsurersshallbeadmittedintheStateofNewMexicoandcarryanA.M.BestRatingofnotlessthanA‐IX.Non‐admittedinsurersmaybeconsideredwithS&PratingofatleastAAorequivalentwithMoody’sorFitch’s.BrokersshallbeapprovedbySessionandshallhaveexperienceinriskmanagementforchurchesaswellasadequatelicensedstafftoprovideallservicesrequiredbyFPC.BrokerperformanceshallbeperiodicallyreviewedbytheSession.ARiskProfileshallbemaintainedwhichcapturestheexposureinformationforthepurposeofbuyinginsuranceandupdatedeverythreeyearsastoreplacementcostvalues.Schedule5shallbecreatedandmaintainedtoinclude:

Property—Buildings,furniture,fixturesandequipment,suppliesandotherfixedassets.Insuranceshallbeacquiredonareplacementcostbasis,covering“allrisk”orspecialperilsincludingflood,earthquakeandothercatastrophicperilsifsuchexposuresexist.Deductiblesshallnotexceed$25,000,shallbewrittenonablanketvaluebasiswithnocoinsurancepenalties.Aninventoryofallitemswithintheseproperties,eventhosethatarenotthepropertyofthechurch,suchasthepastor’spersonallibraryorequipmentloanedorleased.

FineArts—Musicalinstruments,otherspecialtyitems.Insuranceshallbeobtained

onascheduled,statedvaluebasiswiththesameperilsasontheProperty.Deductiblesshallnotexceed$25,000fortheentireschedule,$5,000eachitem.

BusinessInterruption—ExtraExpense.InsuranceshallbeobtainedtoadequatelycoverthecostofalternatefacilitiesfortheChildDevelopmentCenteraswellasthe

5Anyreferencetolimitamountsand/ordeductiblesisreflectiveofcurrentpolicies,andsuchamountsmaybesubjecttochangebySession(uponadviceoftheFinanceCommitteeand/orBrokers).


Churchforusualoperations—foraperiodofatleast6months,intheeventacatastropheoccursandthefacilitiesareseverelydamagedordestroyed.

EmployeeDishonesty—CrimePolicy.Appropriatelimitsshallbemaintained.

GeneralLiability—ExcessandUmbrella—AutomobileLiability.Appropriatelevelsofcoverage(notlessthan$5,000,000eachoccurrenceandintheaggregate)forthird‐partyinjuryeitherbodilyinjuryorpropertydamageshallbepurchased.ThecoverageshallextendtoalloperationsandfacilitiesofFPC,includingCDC.

PoliciescoveringotherliabilitiestobeinsuredasspecifiedbytheBookofOrdershallbemaintainedwithadequatelimitsandappropriatedeductibles.Theseinclude:

Directors&OfficersLiability. EmploymentPracticesLiability. SexualMisconduct. ProfessionalLiability(i.e.,PastorsandEducators,Counselors).

StatutoryorRequiredInsuranceshallbemaintained.Theseinclude:

Workers’Compensation—EmployersLiability. EmployeeBenefitsandPension.


XII. Contracts and Other Agreements

A. Purpose and Scope:

TheThirdAmendedandRestatedBylawsofFPCeffectiveJanuary1,2013,Article6,Section6.1statesthat:“Sessionmayauthorizeanyofficerorofficers,agentoragentstoenterintoanycontractorexecuteanddeliveranyinstrumentinthenameoftheCorporationoronbehalfoftheChurchwhichwillfurtherthepurposeforwhichtheChurchwasestablishedandmaintainsitsexistence.Suchauthoritymaybegeneralorconfinedtospecificinstances.”Article5,Section5.2(A)statesthat:“exceptasotherwiseprovidedbytheSession,thesebylawsorrequiredbylaw,thepresidentshallexecutealllegaldocumentsandinstrumentsonbehalfoftheCorporationwiththesecretary...“.IntheabsenceofthePresident,theVicePresidentshallperformthedutiesofthePresident(Section5.2(B).

B. Legal Documents or Instruments

Theterm“legaldocumentsorinstruments,”asreferencedintheBylawsaboveandrequiringexecutionbythePresident(andtheSecretaryifrequired),isinterpretedbytheSessiontoincludecomplexcontracts,agreementsandotherlegallybindingdocumentssuchasthefollowing:1) Trustagreements.2) Litigationorinvestigatorymatters.3) RealEstateTransactionssuchasdeedsorleaseagreementsthatextendmorethanone

year.4) Agreementsorotherdocumentsrelatingtocorporategovernance,partnerships,

reorganizations,mergers,dissolutionandothersimilarcorporatematters.5) Othercomplexcontracts,agreementsorotherdocumentshavingsignificantimpacton

thefinancesorthemissionoftheChurch,includingbutnotlimitedtocontractsandagreementsthat:a) Areanticipatedtohaveanannualcostofmorethan$5,000.b) WillresultinFPCcommitmentsextendingmorethan1year.c) Includeindemnificationandinsuranceprovisions.d) Arefortheacquisitionofnon‐retailgoodsorservicesnotsoldatpublishedprices.e) HaveapotentialtoresultinsignificantandunanticipatedFPCliabilitiesorcosts.f) InvolveuseofFPCpropertybythirdpartiesformorethan30days.g) Involveacquisitionofaudit,accounting,legal,consultingorotherprofessional

services.h) Involvenegotiatedintellectualpropertyrights.i) CouldexposeFPCtocontroversyorcriticismorwouldbeinconsistentwiththe

missionoftheChurch.


Inordinarycircumstances,theSessionshallapprovealllegaldocumentsandinstrumentsasdefinedabove.TheAdministrationCommitteeshallberesponsibleforevaluatingandprovidingrecommendationstotheSessiononsuchlegaldocumentsandinstruments.InextraordinarycircumstanceswhereSessionapprovalisnotfeasibleduetotimeconstraints,theAdministrationCommitteeandPresidentshallassumeresponsibilityforfinalapprovalandexecution,andshallreporttheactiontotheSessionatthenextopportunity.

C. ManagementAuthorizations

ThefollowingdefinestheauthorityoftheHeadofStaffandotherFPCmanagerstonegotiateandexecutecontracts,agreementsandotherdocuments.TheHeadofStaff,andsuchFPCmanagersasmaybeproposedbytheHeadofStaffandauthorizedbytheSession,maynegotiateandexecute,withoutSessionapproval,contracts,agreementsandotherdocumentsthatdonotarisetothelevelof“legaldocumentsorinstruments,”asdefinedabove.Theseincluderoutinepurchaseorders,useagreements,serviceagreementsextendingforoneyearorless,supplyorders,shorttermleases(eitherastenantorlandlord,eitherneworrenewal,andforeitherrealestateorequipment)thatfallwithintheirindividualprojectorresponsibilities.ManagersshallfollowallapplicableFPCpoliciesandprocedures,suchastheFacilitiesUsePolicy,PersonnelManualandthisFinancialPoliciesManual.Forcontracts,agreementsordocumentsthatdepartfromorarenotcoveredbyotherFPCpoliciesandprocedures,managersshallconsultwithandseekapprovaloftheAdministrationCommitteeandanyotherappropriateCommitteepriortoexecution.OtherthanelectedofficersofFPC,MembersandotherFPCvolunteersarenotauthorizedtoexecutecontracts,agreementsorotherdocumentsonbehalfofFPC.

D. Documentation and Filing

FPCManagersareresponsibleforacquiringvalidandappropriateCertificatesofInsurancefromanycontractororuserofFPCfacilities,asspecifiedbytheFacilitiesUsePolicy.AnyquestionregardingthisrequirementmaybedirectedtotheTreasurerorFinanceCommittee.Finalcopiesofalllegaldocumentsandinstruments;othercontracts,agreementsordocuments;andCertificatesofInsuranceshallbefiledintheBusinessOfficeorapprovedfilingsystemwithintheArchives.


XIII. Document Retention and Destruction Policy


IncompliancewithThePresbyterianHistoricalSocietyguidelines,FPChasadoptedthefollowingRetentionSchedule.Itisapplicabletobothdigitized,electronicallystoreddocumentaswellaspapercopies.

B. Retention Schedule

Types RetentionPeriodMinutes PermanentRegisters PermanentReports/Annualreports PermanentBylaws/Charters PermanentIncorporateRecords PermanentAnnualbudgets PermanentAnnualaudits PermanentAnnualfinancialstatements PermanentSubjectcorrespondence PermanentManuals/handbooks PermanentNewspapers/newsletters PermanentBrochures/promotionalmaterials(1copy) PermanentPhotographs PermanentPropertyappraisals,recordsofsale 20yearsaftersaleArchitecturaldrawings,plats,plans,blueprints

Permanent

Wills,bequests PermanentLegal/judicialcaserecords PermanentLoanagreements Satisfaction+20yearsContracts Active+3yearsPersonnelrecords/employeerecords Employment+7yearsFICA/W2records 7yearsAccountspayableinvoices 3yearsAccountspayable 7yearsAccountsreceivablerecords 3yearsBankdepositslips 3yearsBankstatements 7yearsCanceledchecks 7yearsCashreceiptrecords 3yearsDataforupdatingmailinglists 1yearMailinglists ActivePeriodicfinancialstatements 2years


Types RetentionPeriodExpensereports 7yearsGeneral/routinecorrespondence(acknowledgements,requests,travelarrangements,etc.

3years

Invitations 1yearPettycashrecords 7yearsReceiptsofpurchases 7yearsMeetingnotices 1yearTravelplans/arrangements 1yearResourcefiles Active


Appendices

Appendix A: Responsibilities of Finance-Related Committees and Officers

StewardshipCommittee

TheStewardshipCommitteeshallordinarilybechairedbyaRulingElderservingontheSession.ItisgenerallyresponsibleforoverseeingallfundraisingactivitiesoftheChurch.Inparticular,andsubjecttotheguidanceandapprovaloftheSession,itisresponsiblefor:

Conductingtheannualstewardshipcampaign. Overseeingspecialofferingsandfundraisingcampaigns,includingcapitalcampaigns

asneeded,andincludingtheapprovaloftermsofsolicitationforsuchofferingsandcampaigns.

InteractingwithpotentialdonorswhoexpressinterestingivingtotheChurchbywayofwills,bequests,trusts,memorials,endowments,restrictedgifts,orotherformsofspecialgifts,followingChurchpolicyonacceptanceofgiftsandtheestablishmentofMemorialorEndowmentFunds.

AssistingintheappropriatecategorizationofgiftsasSessionDesignated,DonorRestrictedorUnrestricted.

FinanceCommittee

TheFinanceCommitteeshallordinarilybechairedbyaRulingElderservingontheSession.Itsresponsibilitiesshallinclude:

SupportingpreparationoftheannualoperatingbudgetanditspresentationtotheSessionforapproval.

MakingrecommendationstotheSessionregardingtheestablishmentordissolutionofFunds.

InconsultationwiththePastor,theidentificationofstafforcommitteechairswhohavebudgetand/orFundexpenditureauthority.

PreparationofspendingguidancetoChurchstaffand/orcommitteeshavingexpenditureauthorityoverbudgetlineitemsorFunds,anditspresentationtotheSessionforapproval.

MonitoringofbudgetexecutionandtransactionswithinFundaccounts,bringingvariancestotheattentionofresponsiblepartiesandtheSessionasneeded.

ReviewoffinancialreportsandevaluationofthefinancialconditionoftheChurch,includingitsFunds.

AdministeringtheFPCConflictofInterestPolicy(AppendixB). AdministeringandmaintainingthisFPCFinancialPoliciesManual Appointment,trainingandsupervisionofCounters,throughtheCounters

Coordinator.


InvestmentCommittee

TheInvestmentCommitteeshallordinarilybechairedbyaRulingElderapprovedbytheSession.Itsresponsibilitiesinclude:

Identifyingandevaluatingpotentialinvestments. PresentingrecommendationstotheSession,consistentwiththeinvestmentpolicies

oftheChurch,withregardtoparticularinvestmentsforChurchfunds. MonitoringandreportingontheperformanceoftheChurch’sinvestmentsona

regularbasisorasrequestedbySession.

Treasurer

TheTreasurer: IselectedbyandreportstotheSession,andmustbeorhavebeenaRulingElder. IsanofficeroftheCorporation. IschargedwiththeresponsibilitiesandauthoritiessetforthintheChurchBylaws

atArt.5,Sec.5.2(D). PerformssuchotherdutiesasmaybeassignedbytheSession. ShallnotbeinvolvedinthecountingordepositingofChurchfunds. Isresponsiblefor:

o TherecordingofandaccountingforfundsandsecuritiesoftheChurchandthepreparationoftheannualbudgetandregularfinancialreportsconsistentwiththeChurch’sFinancialManagementPolicies.

o OverseeingthepreparationofchecksforpaymentandensuringthatallfundsdisbursedarewithintheChurch’sbudgetandlimitationsonFundexpenditures.

o Supervisingdailycashbalancestoensuresufficientfundsaremaintainedtocoverpaymentsandmakingrecommendationsastotheamountoffundsavailableforinvestment.

o Overseeingcountingprocedures.

OtherCorporateOfficers

InadditiontothefunctionsofCorporateOfficerssetforththeFPCBylaws,thefollowingOfficershavethefollowingauthorities:

PresidentandVicePresidentareauthorizedtosignchecksandwithdrawfundsfrombrokerageaccounts.

TheCorporateSecretaryhasauthoritytoopennewbankand/orbrokerageaccountswithSessionapproval.

TheCorporateSecretaryhasresponsibilityforopeningsealedbankstatementsandreviewingtransactions.


FinancialReviewCommittee

TheFinancialReviewCommitteeshallordinarilybechairedbyaRulingElderapprovedbytheSession.MembersoftheCommitteeshallbeapprovedbytheSession.TheCommitteeshallincludemembersknowledgeableofaccountingprocedurestotheextentfeasible.ItisresponsibleforobservingtherequirementsofsectionG‐3.0113oftheBookofOrderandanyadditionalguidanceprovidedbytheSessionortheChurch’sFinancialManagementPolicy.


Appendix B: Conflict of Interest Policy

ArticleI—Purpose

ThepurposeofthisConflictofInterestPolicyistoprotecttheinterestsofFirstPresbyterianChurchanditsMembersandotherdonors,againsttheadverseeffectsofactual,potentialorapparentconflictsofinterest(COIs)intheexecutionandadministrationofFPCcontracts,purchaseorders,giftagreementsandothercontractualtransactions.ThisPolicyisalsointendedtoinstillconfidenceinMembersandotherdonorsthattheirgiftsanddonationsaremanagedcompetently,ethically,andtransparently.ThisPolicyisintendedtosupplementbutnotreplaceorconflictwithanyapplicablestateorfederalconflictsofinterestlawsorregulationsapplicabletononprofit,religious,orcharitableorganizations.

ArticleII—Definitions

1.InterestedPerson

AnInterestedPersonisanyFPCemployee,Sessionmember,Elder,corporateofficer,Committeemember,oranyChurchvolunteerwhohasanactual,potentialorapparentFinancialInterestinaproposedorexistingFPCcontractualtransaction,asdefinedbelow.

2.FinancialInterest

ApersonhasFinancialInterestinanactualorproposedtransactionifheorshehas,directlyorindirectly,throughpersonalorfamilybusiness,investment,contractualorownershipinterests:

AnownershiporinvestmentinterestinanyentitywithwhichtheChurchhasaproposedorexistingcontractualtransactionorarrangement;

AcompensationarrangementwiththeChurchorwithanyentityorindividualwithwhichtheChurchhasacontractualarrangement;or

Apotentialownershiporinvestmentinterestin,orcompensationarrangementwith,anyentityorindividualwithwhichtheChurchisnegotiatingacontractualtransactionorarrangement.Compensationincludesdirectandindirectremunerationaswellasgiftsorfavorsthataresubstantial.


3.SignificantConflictofInterest

ASignificantConflictofInterestisanactual,potentialorapparentCOIthat,inthesoledeterminationoftheSession,posesasignificantrisktotheChurchof:

Financialloss,overcharging,orunacceptableperformanceofacontractualagreement.

Embarrassment. Unlawfulexcessbenefit. Inurementtothebenefitofanyprivateindividual. Anyotherconsequencethatcouldjeopardizethetax‐exemptstatusofthechurch

orthetaxdeductibilityofdonationstothechurch.

ArticleIll—PoliciesandProcedures

1.Overview

NotallFinancialInterestsconstituteaConflictofInterest,andnotallConflictsofInterestarisetothelevelofaSignificantCOI.UnderSections2‐5below,anInterestedPersonbedeemedtohaveaSignificantCOIonlywhensodeterminedbytheSession.

2.DutytoDisclose

AnyInterestedPersonwhoisinapositiontoinfluence,implement,orparticipateinadecisiontoawardanFPCcontractualagreementhasadutytodiscloseanyactual,potentialorapparentCOItotheSessionoranauthorizedCommitteeresponsibleforinvestigatingthematter.

3.ExtentofDisclosure

AnInterestedPersonshalldisclosetheexistenceandnatureofhisorherFinancialInterestandshallbegiventheopportunitytodiscloseallothermaterialfactstotheSessionortothemembersofanyCommitteeauthorizedbytheSessiontoconsiderthematter.

4.DeterminingWhetheraSignificantConflictofInterestExists

Afterdisclosureofthefinancialinterestandallmaterialfacts,andafterdiscussionwiththeInterestedPerson,theSessionorCommitteeshalldiscussthematterintheabsenceoftheInterestedPerson,andshalldeterminewhetheraSignificantCOIisdeemedtoexist.ACommitteeauthorizedtoinvestigatethemattershallreportsitsdeterminationandaproposeddispositionofthemattertotheSession,andthedecisionoftheSessionshallbefinal.


5.ProceduresforAddressingaSignificantConflictofInterest

IftheSessiondeterminesthatthereisnoSignificantCOI,thematterisclosedandthereshallbenoadverseconsequencetotheInterestedPersonforhavingdisclosedhisorherFinancialInterest.IftheSessiondeterminesthatthereisaSignificantCOI,itmay:

DirectthattheInterestedPersonhavenofurtherinvolvementinanydecisionregardingtheawardoradministrationofthecontractualtransaction;or

DirectthetakingofappropriatemeasurestoeliminateoradequatelymitigatetheCOI;or

Inexceptionalcircumstances,wherethevalueofthecontractualtransactionisdeemedtooutweighthepotentialadverseconsequencesofproceedingdespitetheSignificantCOI,allowtheInterestedPersontoremaininvolvedintheawardand/orimplementationofthecontractualtransaction.

6.Violations

Ifanyemployee,officer,Elder,SessionmemberorCommitteememberhasreasontobelievethataperson,whoisinapositionofinfluenceovertheawardoradministrationofacontractualtransaction,hasfailedtodiscloseanactual,potentialorpotentialapparentCOI,heorsheshallinformtheHeadofStaffofthebasisorsuchbelief,andtheSessionshallaffordtheaccusedpersonanopportunitytoexplaintheallegedfailure.If,afterconsideringtheresponseofapersonsoaccusedandaftermakingfurtherinvestigationaswarrantedbythecircumstances,theSessiondeterminesthattheaccusedpersonfailedtodiscloseanactualorpossibleconflictofinterest,theSessionshalltakeappropriatedisciplinaryandcorrectiveaction.

ArticleIV—RecordsofProceedings

TheminutesoftheSessionandanyCommitteewithSession‐delegatedauthoritytoinvestigateaCOImattershallcontain:

Thename(s)ofanypersonwhodisclosedorotherwisewasfoundtohaveaFinancialInterestinconnectionwithanactual,potentialorapparentconflictofinterest,thenatureoftheFinancialInterest,anyactiontodeterminewhetheraSignificantCOIwaspresent,andtheSession'sdecisionorCommittee'srecommendationastowhetheraSignificantCOIexisted.

Thenamesofthepersonswhowerepresentfordiscussionsandvotesrelatingtothecontractualtransaction,thecontentofthediscussion,includinganyalternativestotheproposedtransactionorarrangement,andarecordofanyvotestakeninconnectionwiththeproceedings.


ArticleV—COIPoliciesandPracticesRegardingCompensation

WiththeexceptionoftheHeadofStaff,themembersoftheSessionshallnotreceivecompensationfortheirserviceasSessionmembers.However:

AvotingmemberoftheSessionorastaffemployeewhoreceivescompensation,directlyorindirectly,fromtheChurchforanyservicesisprecludedfromvotingonanyCOIdeterminationpertainingtothatperson’scompensationandshallexcludehimself/herselffromalldiscussionsandvotesregardingsuchcompensation.

AvotingmemberofanyCommitteewhosejurisdictionincludescompensationmatters,andmemberwhoreceivescompensationdirectlyorindirectlyfromtheChurchforanyservices,isprecludedfromvotingonmatterspertainingtothatmember'scompensationandshallexcludehimself/herselffromalldiscussionsandvotesonsuchcompensation.

NovotingmemberoftheSessionoraCommitteewhosejurisdictionincludescompensationmatters,orwhoreceivescompensation,directlyorindirectly,fromtheChurchforanyservices,isprohibitedfromprovidinginformationtotheSessionortoanyCommitteeregardinganymatters,includingthemember’scompensation.

ArticleVI—AnnualCOIStatements

EachSessionmember,principalOfficer,Committeemember,orothervolunteerhavingSessiondelegatedauthoritiesinvolvingpurchaseordersorothercontractualagreementsshallannuallysignastatement(seeForms)thataffirmsheorshe:

HasreceivedacopyoftheConflictofInterestpolicy. HasreadandunderstandsthePolicy. HasagreedtocomplywiththePolicy. UnderstandstheChurchisanonprofitcorporationandthat,inordertomaintain

itstax‐exemptstatus,itmustengageprimarilyinactivitiesdirectedtoitstax‐exemptpurposes.

VII—PeriodicReviews

ToensurethattheChurchoperatesinamannerconsistentwithcharitablepurposesanddoesnotengageinactivitiesthatcouldjeopardizeitstax‐exemptstatus,periodicreviewsshallbeconducted.Theperiodicreviewsshall,ataminimum,includethefollowingsubjects:

Whethercompensationarrangementsandbenefitsarereasonable,basedofcompetentsurveyinformation,andtheresultofarm'slengthbargaining;and

Whethercontracts,partnerships,jointventures,andothercontractualarrangementswiththirdpartiesconformtotheChurch'swrittenpoliciesandare:

o Properlyrecorded.


o Reflectreasonableinvestmentdecisionsorpaymentsforgoodsandservices.

o Advancecharitablepurposesanddonotresultinprivateinurementoranexcessbenefittransaction.

ArticleVIII—UseofOutsideExperts

WhenconductingtheperiodicreviewsasprovidedinArticleVII,theChurchmay,butneednot,useoutsideexpertsasadvisors.Ifoutsideexpertsareused,theiruseshallnotrelievetheSessionofitsresponsibilityforensuringthatperiodicreviewsareconducted.


Appendix C: Expense Reimbursement Plan

TheFirstPresbyterianChurchmaintainsthisfullyaccountableExpenseReimbursementplanforitspastors,employeesandvolunteers,inaccordancewiththerulesandregulationsoftheInternalRevenueService.Suchrulesandregulationsprovidethatanemployee“neednotreportonhis/hertaxreturn”expensespaidorincurredbytheemployeesolelyforthebenefitoftheChurch,andforwhichsuchemployeeisrequiredtoanddoesaccounttotheChurchandwhicharechargeddirectlyorindirectlytotheChurch.Accordingly,allproperty,goodsandservicespurchasedunderthisaccountableexpensereimbursementplanbelongtotheChurch,nottheindividual.InadditiontotherulesandregulationsoftheIRS,thefollowingrequirementsforexpensereimbursementapply:

a. AllmileageexpenseswillbereimbursedatthepublishedIRSrate.Documentationmustaccompanytherequestthatliststhetimeandplace,odometerreadings,identificationofbusinessandstatementofbusinesspurpose.Commutingmileswillnotbereimbursed.

b. Individualreceiptsarerequiredforreimbursementofexpenses.c. Requestsforreimbursementformealsorotherexpensesmustincludethe

businessrelationshipamongthepartiestosufficientlyexplainthebusinesspurposeandwhytheexpensewasincurredonbehalfofthechurch.GuidelinesfordeterminingreasonablemealexpensesshallgenerallyconformtoIRSperdiemrates.

d. Whennecessary,theChurchwillprovidecashadvancesforallowableandappropriatebusinessexpenses.Byacceptinganadvance,theminister,employee,orvolunteeragreestocomplywiththerequirementsofthisPlanandwilldocumenttheexpensesandreturnanyexcesspaymentswithin60days.

e. Requestsforreimbursementorcashadvanceswillbemadeonanexpensereport,signedbythepayee,approvedinthesamemannerrequiredforallchecksandsubmittedforpayment.Reimbursementrequestsmustbeapprovedbysomeoneotherthanthepayee.

f. Expenseswillbechargedtoaparticularprogramareathatisassociatedwiththereasonfortheexpense.Professionaldevelopmentexpenseswillbechargedtoanappropriatepersonnelaccount.

g. Requestsforreimbursementmustbemadewithin60daysoftheexpense.h. Originalreceiptsanddocumentationoftherequestforreimbursementwillbe

retainedbytheChurchtosubstantiatetheexpense.AsapplicableindividualsseekingreimbursementarerequiredtohavesignedandhaveonfileExpenseReimbursementPlanAcknowledgementform.


Appendix D: Acceptable Ranges of Investment Categories in the Investment Portfolio

Equities(Stocks)

Therangeofequityinvestmentsshallordinarilyfallbetween40%and65%ofthetotalinvestmentportfolio.Aneutralrangeisbetween50‐60%.Withinequitiesthefollowingcategoriesshouldberepresented:

Largeandmegacapitalization(cap). Smallandmid‐caps. Foreign,includingemergingmarkets. REITs.

Intermsofcapitalization,astrongmajorityoftheequityinvestmentsshouldbeinlargeandmegacaps.Anormalrangeforthemwouldbe65‐80%oftotalequities.Thus,thenormalrangeforsmallandmid‐capswouldbe20‐35%.Inanotherbreakdown,domesticequityrangeshouldbe65‐85%oftotalequities,withforeignfallingbetween15and35%ofthetotalequityinvestment.InvestmentinREITsshouldgenerallybe5%orlessoftotalequityinvestment.

FixedIncome(Debt)Ranges

Fixedincomeinvestmentsshallfallbetween35%and60%ofthetotalinvestmentportfolio.Aneutralrangewouldbe40‐50%.Withinfixedincomethefollowingcategoriesshouldberepresented:

Investmentgrade. Below‐investmentgrade. Foreign,includingemergingmarkets. Duration:short,intermediateandlong.

Qualityrangesshouldbe70‐90%investmentgrade,relativetothetotalallocatedtofixedincomeinvestments.Thusbelow‐investmentgradefixedincomeinvestmentsshouldbebetween10%and30%.Arangeof70‐90%domesticdebtsecuritiesand10‐30%foreignshouldbemaintained.


Asageneralruleanaveragebonddurationof4‐8years(intermediate)isadvisabletobalanceincomeandpricevolatilityfactors;however,therearetimeswhenashorteraveragedurationisadvisable.


Appendix E: Cash Handling Policy

TheChurchreceivescashandchecksinitsSundayofferings,TGIFconcerts,socialevents,andChurchsales.AllChurchMemberswhohandlecashareinstructedonbasicinternalcontrolsrelatedtocashreceipts.Cashhandlersarealsoinstructedthattheyarerequiredtokeepallfinancialinformationconfidential.Offeringcountersareexpectedtosignthefollowingagreement.DetailedinstructionstoCountersconsistentwiththesepoliciesareprovidedbytheTreasurerwithapprovaloftheFinanceCommittee


Appendix F: Special Purpose Fund Identification Documents

A Special Purpose Fund Identification Document shall be created for each Special Purpose Fund proposed for approval by the Session. See the model template for a Special Purpose Fund Identification Document set forth below.

Document Contents

The Special Purpose Fund Identification Document shall contain all pertinent information regarding the proposed Special Purpose Fund, including:

The proposed name of the Special Purpose Fund. The account number of the Fund (assigned by the Treasurer). The purpose of the Fund, specifically including any donor-imposed restrictions,

special conditions or instructions; or any Session-imposed restrictions regarding use or duration of the Special Purpose Fund, carryover of unused funds to subsequent years, retention of income earned on the assets in the Fund, etc.

The initial level of funding and its source (individual donation(s); will, trust, charitable annuity, etc.; special solicitation and collection; Session appropriation of unrestricted funds; or other).

Name(s) and contact information for any donor(s), unless Special Purpose Fund is based on a Church solicitation accompanied by general membership contributions.

The identification and location of any pertinent Gift Instrument (donation agreement, Church solicitation, will, trust, etc.).

Any pertinent information on a donor, or the circumstances of the formation of the Special Purpose Fund, that might assist future Church representatives in the management of the Fund.

Proposed sources of subsequent or continuing funding, if any. The type of Special Purpose Fund (Temporarily Restricted, Permanently Restricted,

or Unrestricted (Session Designated) (see Definitions). The Committee Chair and/or FPC employee having expenditure authority over

Special Purpose Fund. The date of approval by the Session.

Fund Creation

A draft Special Purpose Fund Identification Document shall be prepared in connection with a proposal to the Session to approve a new Special Purpose Fund. The approved Document should be referenced in connection with any subsequent contribution or appropriation of new funding to the Fund, or any request for expenditures from the Special Purpose Fund. The responsible FPC employee or committee chair is responsible for ensuring that there is


a record of Session approval or delegated expenditure authority to support a proposed disbursement, and for ensuring that the correct account number is referenced.

Existing Funds

The existing funds are presented in a separate document (Special Purpose Funds). These funds are updated by the Finance Committee after appropriate action by the Session. Original source documents, e.g., Session minutes, gift agreements, or bequests documentation, for all Special Purpose Funds in this Table may be found in the Church business files or on shared documents on OneDrive. NOTE: Pages 85-116 have been moved to new document. Since this document is currently under revision, page number 117 through 127 have remained the same.

FPCSF Financial Policies Manual Page 117

Forms

Formsareameanstoexecutethepoliciesestablishedinthisdocument.TheymaybechangedwithoutSessionapproval.Neworrevisedformswillbeincludedinthissectionasnecessary.

FPC Special Purpose Fund Identification Document Template

NameofSpecialPurposeFund:AccountNumber:Purpose:Initialfundinglevel:Initialsourceoffunding:Name(s)andcontactinformationondonor(s),ifany:IdentificationandlocationofpertinentGiftInstrumentorChurchSolicitation:OtherpertinentinformationonsourceorcircumstancesofthecreationoftheSpecialPurposeFund:Proposedsourcesofsubsequentorcontinuingfunding,ifany:TypeofSpecialPurposeFund(TemporarilyRestricted,PermanentlyRestricted,orUnrestricted(SessionDesignated):ResponsibleFPCemployeeorCommitteehavingexpenditureauthority:DateofSessionapproval: ClerkofSession: Date:


FPC Agreement for Offering Counters

I,____________________________________________,herebyagreeasfollows:

Ihaveread,understandandwillcomplywithChurchpoliciesandproceduresregardingcountingofcollections;

Iwillkeepconfidentialanyandallinformationaboutindividuals’giving,towhichIamexposedasaCounterofcollections;

IwillnotshareordisclosetoothersMemberfinancialinformationoramountsdonatedtotheChurch,exceptingonlyauthorizedChurchfinancialpersonnelhavinganeedforaccesstosuchinformation;

Iwillmakenodisbursementsfrompre‐depositcashcollections; Iwillensurethatallcollectionsarepromptlysecuredinthesafeordepositedinthe

bank;and IwillnotshareordisclosethecombinationoftheChurchsafetoanyotherperson.

AsanFPCCounter,Iwillberesponsibleforensuringthatcollectionsareaccuratelyandcompletelycounted,balancedandreportedtoauthorizedfinancialpersonnel.PrintedName: Signature: Date


FPC Check Requisition

Pleaseissuethefollowingcheck:DATENEEDED: Vendor# PAYEENAME: ADDRESS: Explanationoncheckvoucher: Remarks: ChargetoAccount#: AccountName: Amount Total $CommitteeChair/ManagerApproval: Signature DateOfficeroftheCorporation/PastorApproval Signature Date__Mailchecktopayee __Putcheckinmybox__Holdcheckforpickup

Rev.1/25/10


FPC Income Distribution Worksheet

Depositfundsto:Account#andName: DateCounted: Description Amount Quantity TotalCoin $Currency Ones 1.00 $Twos 2.00 $Fives 5.00 $Tens 10.00 $Twenties 20.00 $Fifties 50.00 $Hundreds 100.00 $Other $

CoinandCurrencySubtotal $ChecksSubtotal(makecopiesofALLchecks) $

TOTAL $Countedby: PrintedName/SignatureCountedby: PrintedName/SignatureAdditionalInformation:


FPC Conflict of Interest Disclosure Statement

ThisConflictofInterestDisclosureStatementisintendedtoensurethatmembersoftheSession,Staff,Officers,CommitteeMembersandanyotherpersonhavingauthoritydelegatedbytheSessiontoinfluence,makeorimplementdecisionsregardingtheexecutionoradministrationofcontractualtransactions,complywiththeConflictofInterestPolicyoftheFirstPresbyterianChurchofSantaFe.Instructions:Pleasereadthecertificationbelowandmarkan"X"inthespacebeforeeitherItemAorItemB,whicheverisappropriate.IfyoumarkItemB,pleaseprovidetheinformationrequested.Pleasethenprintyourname,signanddatethisStatement,andreturnthisformtotheClerkoftheSession.Certification:IhavereceivedacopyoftheConflictofInterestPolicy,havereadandunderstandthePolicy,andIagreetocomplywiththePolicy.IunderstandthattheFirstPresbyterianChurchofSantaFeisanonprofitcorporationandthat,inordertomaintainitstax‐exemptstatus,itmustengageprimarilyinactivitiesthataccomplishoneormoreofitstax‐exemptpurposes.[] A.Iamnotawareofanyrelationship,FinancialInterest,oractualorprospectivecontractualagreementinvolvingmyselforanyfamilymemberoranyotherpersontowhomIamrelated,andanyotherindividualororganization,non‐profitorotherwise,whichconstitutesormayconstituteinanactual,potentialorapparentconflictinterestwithrespecttomyresponsibilitiesasanEmployeeorMemberoftheFirstPresbyterianChurchofSantaFe.[] B.Thefollowingrelationships,FinancialInterests,oractualorprospectivecontractualagreementsinvolvingmyself,afamilymember,orotherindividualtowhomIamrelated,withotherindividualsororganization,whethernonprofitorotherwise,mayconstituteormightresultinanactual,potentialorapparentconflictofinterestwithmyresponsibilitiesasaMembertheFirstPresbyterianChurchofSantaFe.

Financial(contracts,partnerships,contractualagreements,andinvestments):_________________________________________________________________________________________________________________________________________________For‐profitdirectorships,positions,andemployment:_________________________________________________________________________________________________________________________________________________


Nonprofitdirectorships,positions,andemployment:__________________________________________________________________________________________________________________________________________________Other:_________________________________________________________________________

IwillpromptlynotifytheHeadofStaffoftheFirstPresbyterianChurchofSantaFeofanymaterialchangeinmyrelationships,FinancialInterests,ortransactionsthatwouldconstituteormightresultinanyactual,apparent,orpotentialconflictofinterestwithregardtomyresponsibilitiesasaMemberoremployeeofFirstPresbyterianChurchofSantaFe. Name(Print) Signature Date:


Expense Reimbursement Plan Acknowledgement

IhavereceivedacopyoftheChurch’sFullyAccountableReimbursementPlanandunderstandthatitprovidesguidelinesandsummaryinformationabouttheChurch’sreimbursementpolicy,proceduresandrulesofconduct.Iunderstandthatitismyresponsibilitytomaintainadequateandaccuraterecordsandforwardallsupportingexpensereports,receiptsanddocumentationtotheChurch. Name(Print) Signature Date


Tables

Tables1through4providecurrentnamesororganizationsassociatedwithpositionsorfunctionsdescribedinthisdocument.TheymaybeupdatedbytheOfficeManageruponnotificationbytheClerkofSessionfollowingaSessionaction.Table5maybeupdatedbytheOfficeManageruponnotificationbytheChairoftheMissionandSocialJusticeCommittee.

Table 1 - Committee Chair Positions

Thefollowingtableliststhecommitteechairpositionshavingauthoritytoacceptcontributionsto,andinitiateexpendituresfrom,SpecialPurposeFundstotheextentauthorizedinspecialfundidentificationdocuments:

Committee ChairAdultEducation VacantBackPewGallery CarolFallisChildDevelopmentCenterandAdvisory JaneStringfellowChildrenandYouthCE JanisGonzalesColumbarium JennyVellingaCreationCare MaryAnnLundyDeacons MaryBlack/SharonEklundFacilities JohnWhitcombFinance DennisSandersonInvestment DennisSandersonMissionandSocialJustice KarenFinneyPastorNominating (CommitteeInactive)Personnel SharonEklundPrayerShawlMinistry GayHill/BettyKerstingRooftopGarden JuliaHudsonSession(ClerkofSession) JudiHainesStewardship VacantWorshipandMusic JeannieBowman


Table 2 - Officer/Staff/Volunteer Positions

Thefollowingtableliststheofficer/staff/volunteerleadershippositionsreferredthroughoutthisdocument.

Table 3 – Check Signatories

Thefollowingpersonsareauthorizedtosignchecks:

Position NameTreasurer GaleWrightVicePresident MargaretLyerlyPresident BillEklund

Table 4 – Vendors

ThistablelistscurrentFPCvendorsreferredtothroughoutthisdocument.

ServiceorFunction NameofVendororContractor

Payrollprocessor PayChexITServiceContractor SundanceNetworks,LLCEFT/CreditCardProcessor(online) VancoEFT/CreditCardProcessor(inpersonsales) SquareAccountingsystem QuickBooksMembership&donationssystem ChurchWindowsBankCheckingandSavingsAccounts LosAlamosNationalBankCertificatesofDeposit BankofAmericaInvestmentAccounts Fidelity

Position NamePastor/HeadofStaff HarryEbertsMusicDirector LindaRaneyOfficeManager KristaPetersonFacilitiesManager BillAdrianCDCDirector AnneLileyPresident BillEklundVicePresident MargaretLyerlyTreasurer GaleWrightClerkofSession/CorporateSecretary JudiHainesBookkeeper MariaRomero(Contractor)CountersCoordinator BettyKersting


Table 5 – Third Party Charities

ThefollowingisalistofthecurrentlyapprovedthirdpartycharitiesassupportedbyFPC:

AliceKingCenterBorderLinksBoysandGirlsClubs,DelNorteCoalitionforPrisoners’RightsCommunityFarmEnvisionSantaFeEsperanzaShelterforBatteredFamiliesFeedingSantaFeFoodDepotGhostRanchGirlsInc.ofSantaFeHabitatforHumanityHEPACInterfaithCommunityShelterInterfaithWorkers’JusticeNMLaFamiliaMedicalCenterLutheranAdvocacyMinistryNMMenaulSchoolNeedandDeedNewMexicanstoPreventGunViolence NoMoreDeathsPastoralCounselingCenterSantaFePublicSchoolsAdelanteProgram/JuntosLosJuevesSolaceCrisisTreatmentCenterSomosunPuebloUnidoSouthsideSoccerClubSt.ElizabethShelter