Temporarily restricted asset funds contain non-endowment money held for specific activities spanning more than one fiscal year (such as the Remembrance Garden, the One Village One Family fundraising efforts, and the Ministers’ Discretionary Fund). At present there are nine active asset funds. Money for these are held in a separate interest earning bank account (#10006 – Restricted Assets Acct 978). Each asset fund is managed by its corresponding committee. It is the bookkeeper’s responsibility to make sure that they are accounted for properly.
At the time of the annual budget creation, the Senior Minister works with the Finance Team to determine which of the existing Funds are active and align with the priorities and needs of the church. The Senior Minister takes a recommendation regarding the continuation or dissolution of these Funds to the Board for consultation and approval.