BUDGET SETTING AND
EXPENDITURE AND PAYMENT POLICY

  • AG-F1-03
 
Primary Responsibility Church Treasurer
   
Issued March 2021
Status Agreed
Review Period 1 year
Next Review Date March 2022
 
DISTRIBUTION
Original Church Office
Copy Trustees
 If printed this document is UNCONTROLLED
  1. Purpose and Scope
This policy establishes the principles for setting budgets, monitoring expenditure against budgets and approving payments. 
 
  1. Setting Budgets
The draft expenditure budget for each financial year is considered by the Leadership Team at their September meeting and presented to the membership in outline at the September church meeting.  The budget is agreed by the Leadership Team at their November meeting and presented to the membership at the November church meeting for their acceptance.
 
  1. Spending Authorisation Limits
Spending Authorisation limits (per item/event) are defined as follows:-
 
Church Treasurer/Secretary                      -                       Max £250 with permission *
 
Fabric Officer                                                -                       Max £500 with permission *
 
Minister                                                          -                       Max £250 with permission *
 
 
*Reference wherever possible, except in emergency to Treasurer
 
  1. Expenditure in excess of limits shown above
Expenditure in excess of the above limits will be in line with the following procedures:-
Work or Expenditure - £500 - £1,500 – Single quote for Leadership and Church approval
                                                      
Work over the value £1,500 – 3 competitive quotes for church approval
 
Emergency works/expenditure in excess of £500 that can’t wait for church approval can be authorised by the Leadership Team with the understanding that retrospective approval is obtained from the church membership as soon as possible.
 
 
  1. Managing Budgets
Responsible persons can order goods or services and authorise payment in accordance with the above.  There is an expenditure recording form as shown in Attachment 1.
If any expenditure is expected to exceed the budget, the increase must be presented to the Leadership Team.
 
  1. Approval of Payments
Invoices are to be passed to a member of the Finance Team via either the Treasurer/Secretary/Minister.  The minister will claim his travel expenses monthly using the attached form.
The current authorised signatories on the church bank account are as follows:-
  • Treasurer – currently Mr. V. Fromm
  • Secretary – currently Mr. R. Finch
  • Mr. V. Wright
  • Mrs G. Price
The church Finance Team will be the authorised users of the bank card readers.
This list may be amended from time to time with the agreement of the Trustees but will always include the appointed Treasurer and the appointed Secretary.  Additions to the List of Authorised Signatories need to be registered with Lloyds Bank.
 
  1. Payments using Bank Charge Cards
One Wymondham Baptist Church bank card has been issued to the Pastor (currently Paul Smith).
On termination of employment of a Wymondham Baptist Church bank card holder, the card must be returned to the Treasurer for destruction.
A record of expenditure on the bank charge card will be maintained by the minister and passed to the Finance Team to record expenditure. (Attachment 2)

 
Attachment 1: Payment Approval Form
 
PLEASE COMPLETE AND SUBMIT WITH RECEIPTS
 
 
WYMONDHAM BAPTIST CHURCH – PAYMENT REQUEST FORM
 
 
Amount of Expenditure:
 
 
£
 
Requested by:
 
 
Name in Capitals …………………………
………………………………………………..
 
 
Signature:
 
………………………………………………..
 
 
Date of expenditure:
 
 
………………………………………………..
 
Reason for expenditure:
 
 
………………………………………………..
………………………………………………..
………………………………………………..
………………………………………………..
 
 
Budget heading to be charged:
 
 
………………………………………………..
 
Expenditure Authorised by:
 
 
………………………………………………..
 
BACS/Cheque payment amount & date:
 
………………………………………………..
 
 
 
 
 
 
 
 
 
 
 
 
Attachment 2 -
EXPENDITURE MADE BY MINISTER USING CHURCH ACCOUNT – All receipts attached
MONTH …………………………………………………………
 
DATE EXPENDITURE EXPLANATION AMOUNT
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
 
Signed ……………………………………………………………………….

 
Attachment 3 –
MINISTER’S TRAVEL CLAIM FORM
MONTH –
 
DATE TRAVEL TO MILEAGE
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

 
Signed ………………………………………………………………………………………
 

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