CENTRAL MISSOURI USA MISSION CENTER ACCOUNTING CONTROLS

January 1, 2004

PROCEDURES

General

1. Internal control procedures provide for a system of checks and balances in handling funds and the accounting of those funds.
2. Written procedures provide the basis of internal control and a great help in training of employees.
3. Segregation of duties provides the ultimate in internal control but is difficult where there are few employees. To facilitate the segregation of duties the bookkeeper shall have only recording and reporting responsibilities.

Budgets

1. The budget for the mission center shall be prepared by the Mission Center President and Mission Center Financial Officer with consultation of other appropriate mission center officers.
2. The budget shall be presented to the Mission Center Conference held in November for approval.
3. The Mission Center President and Mission Center Financial Officer shall approve, in writing, any expenditure that is not planned in the budget.

Financial Statements

1. Financial statements shall be prepared using the Shelby accounting system. Reports should be completed by the 15^th of the following month.
2. Financial statements shall be reviewed by the Mission Center Financial Officer including comparison to approved budget.
3. Financial statements shall then be distributed to all appropriate persons.

Records

1. All accounting records and supporting documents shall be kept on file and maintained in harmony with the Retention of Records Policy.

Documentation

1. All journal entries shall have sufficient description written on them to fully explain their purpose and to justify the amounts.
2. All journal entries shall be examined and approved each month by the Mission Center Financial Officer.

BANK ACCOUNTS

Account Authority

1. The bookkeeper shall have inquiry authority only and shall not be able to withdraw funds, transfer funds or authorize electronic transactions.

Reconciliation

1. All bank statements shall be received unopened by the Mission Center Financial Officer and reviewed carefully before passing to the bookkeeper for reconciliation purposes.
2. At least twice each year on a random basis the Mission Center Financial Officer shall perform the bank reconciliation.

RECEIVING FUNDS

Cash Receipts

1. The mail shall be brought to the administrative assistant for opening.
2. All mail relating to the financial operations of the mission center shall be given to the bookkeeper for processing.
3. All mail from Congregation Financial Officers shall be given to the bookkeeper for entry into the congregation Shelby record.
4. All funds received in the Mission Center Office shall be entered into Shelby. Bank deposit shall be prepared completely and the deposit taken to the bank promptly.
5. Persons sending checks to the Mission Center shall be instructed to make the check payable to the church.

DISBURSING FUNDS

Check Signing

1. All checks, with supporting documents attached, shall be submitted to the Mission Center Financial Officer, or other signing officer for review and signature.
2. All checks shall be prepared for signature on Thursday each week.
3. No advance signing if checks is permitted.
4. The counselor to the Mission Center Financial Officer shall have signature authority for use at the request of the Mission Center Financial Officer.
5. Due to the Mission Center Financial Officer position being filled by a self-sustaining person who may not always be available, the Mission Center President also has signature authority. It is agreed that this authority will be used only in consultation with the Mission Center Financial Officer.

Oblation

1. Oblation assistance shall be provided only by the Mission Center Financial Officer, his/her counselors, or Congregation Financial Officers.
2. The Aid Form, OB100, shall be completed by the person authorizing the aid and submitted directly to church headquarters.

Purchasing

1. Purchasing shall be done only as budgeted or approved by the Mission Center President or Financial Officer.
2. Reimbursement for individuals who have made approved purchased shall be made upon proper documentation.

Payroll

1. Staff salaries and benefits shall be conveyed, in writing, to the bookkeeper by the Mission Center Financial Officer.
2. A permanent employee record shall be maintained in a safe place.

Investments

1. All mission center and congregation funds in excess of $100,000 shall be placed in the investment options of the World Church Affiliate Invest Pool.