Care and Responsibility in Financial Operations
Cash Basis—All activities of a recurring nature for which denominational financial support is involved shall be conducted on a cash basis. All funds necessary for such operations shall be in hand or provision shall be made before commencement of activities.

Financial Planning and Budgeting Process—Each organization shall have a mission driven, broadly based consultative financial planning and budgeting process with a committee structure that can give detailed review to the ongoing financial planning and budgeting for the organization. In some cases, this may take the form of a finance committee and yet in other cases, the organization may be small enough that the process is handled directly by the governing body involved.

If the organization’s controlling committee establishes a separate committee for this purpose, the responsibilities should include reviewing budget requests and the careful review of the annual operating budget as well as a review of the organization’s financial position as reflected in the financial statements. The approval of the budget and the review of the organization’s financial statements would then be recommended to the controlling committee for action.

Financial Responsibility—Neither the General Conference nor any of the individual divisions composing it shall be held financially responsible for any obligations it has not assumed by its own action. This is also the general policy of the union and local conferences/missions/fields and other organizations and institutions of the denomination. Divisions and General Conference institutions are expected to maintain their accounts with the General Conference on a current basis. The principle of reconciling and settling interorganizational accounts on a monthly basis shall be implemented at all levels of the world Church.