DIVINE TREASURER

(21)     The TREASURER:

21:a) The Treasurer shall be appointed by the Patriarch on the advice of the Archbishop on the recommendation of the Council voting in the absence of the Presiding Officer.

21:b) Shall be responsible for keeping all financial records and prepare financial statements half yearly for the Council.

21:c) Shall be a signatory to any financial transaction for the said Church

21:d) The Treasurer shall be removed from office by resignation, and or inappropriate conduct.

21:e) The Archbishop shall appoint a member to act as Treasurer whenever the principal holder of the office is away.

21:f) He/She shall have a knowledge of all financial transactions

21:g) He/She shall report to the Archbishop every three months or ninety days whichever comes first.

21:h) He/She shall be an ex-officio member of all financial meeting

21:i) He/She shall advise the Council, Archbishop and Patriarch periodically on all financial matters

21:j) He/She shall notify the Archbishop in writing whenever leaving the jurisdiction, this will enable the Archbishop to advise the Patriarch for an acting appointment.

(21) 1 The duties of the ministry to which a person is called when he or she becomes a church

treasurer can best be described in the following ways:

  1. Tithes and Offerings. The Divine Treasurer receives the tithes and offerings which come in on Sunday service or to the church office during the week. It is a generally accepted safeguard to have two or more persons count the loose offerings as soon as possible after they have been received before the money is turned over to the Divine Treasurer. Ideally, the church will make provision for the safekeeping of the church monies in a safe in the church office or arranging to use a bank deposit box.
  2. Receipting. All funds received should be receipted as soon as possible. The offering envelopes are opened and checked to see that each amount received tallies with what is written on the envelope. All the receipts are then posted in the church ledger by hand or computer. The keeping of these records is vital not only for the auditor who will be checking them each year but for the members as well, who may need a list of their contributions.
  3. Banking. It is the responsibility of the Divine Treasurer to deposit church monies in a local bank. Of course, this must be in a separate account from that of the church treasurer’s personal account. The account should be opened in the name of the local church according to the requirements of national and local law. The treasurer is responsible for reconciling/balancing the chequebook on a monthly basis
  4. Records. The Divine Treasurer needs to forward a copy of the church ledger pages to the Executive Council each month. This list of the month’s receipts should be accompanied by a check covering the amount of tithe given and the offerings received that were deposited or withdrawn.
  5. Personal Receipts. The receipts for tithes and offerings given by the members should be distributed to them on a regular basis in the manner the local church has agreed upon. Some churches do this quarterly while others have worked out a system to mail them out on a yearly basis. There is no strict rule for this procedure.
  6. Accounts Payable. Authorization for the disbursing of church funds for church operation is generally given in the annual church budget. Special projects or items not in the budget must be authorized by the Executive Council or by a church business meeting.
  7. Financial Statements. The Divine Treasurer should prepare a monthly financial statement and distribute copies to the Executive Council at their meeting. This statement should include the balance status of all budgeted accounts, as well as the totals received in tithes and offerings and a detailed record of all disbursements made.

(21) 2                 Responsibilities of the Treasurer:

  1. To disburse all money contributed to the local church budget, keeping accurate records of how money is spent.
  1. To prepare accurate monthly financial reports indicating the financing well-being of the congregation.
  2. To work according to the guidelines established by the Executive Council.
  3. To participate in and report regularly to the Executive Council and appropriate Congregational Meetings.
  4. To assure there are adequate records documenting the assets of the church for insurance and other purposes.
  1. To make recommendations for the investment of excess funds (if any).
  2. To ensure that all church property is appropriately covered by insurance for casualty and liability losses.
  3. To ensure that all governmental taxes, reporting forms, and regulations are met on a timely basis.
  4. To be accountable to the congregation through the Executive Council.

(21) 3                      Further Responsibilities:

In addition to those requirements and responsibilities listed for all Executive Council members, the Divine Treasurer’s responsibilities:

  1. -Supervise the collection, counting and deposit of all contributions to the congregation; ensuring that at least two persons are present at all times during collection and counting;
  2. -Supervise the Divine Treasurers of all other accounts, ensuring that they follow established accounting procedures and appropriate safeguards;
  3. – Ensure that bills are paid in a timely fashion;
  4. -Work with any designated committee to make certain that adequate insurance is maintained on all real and tangible property;
  5. -Determine that the books and accounts of the congregation are kept in accordance with standard accounting procedures and the requirements of the canons;
  6. -Ensure that the congregation’s financial operations are in accordance with the Mystical Order  and rules and by-laws of the church, and state and federal laws;
  7. -Ensure that the congregation’s deeds and other instruments of ownership are secure, and maintained in the manner prescribed by the Bylaws and civil law;
  8. -Ensure that anyone serving as custodian of any congregational or organizational funds over $500 is bonded by a professional bonding insurer;
  9. -Meet regularly with the Archbishop, Provost, and/or staff for planning and evaluation;
  10. Develop and serve on the Finance Committee;
  11. -Assist in the development of budgets;
  12. -Be available to consult with other committees that might need help in planning budgets of other assistance in financial matters;
  13. -Submit a monthly financial report to the Archbishop and an annual financial report to the Executive Council and congregation;
  14. Make appropriate contributions to the Secretary for the effective functioning of the office

(21) 4                   Accountability:

-The Divine Treasurer is elected by and accountable to the Archbishop and Executive Council.  The Divine Treasurer may or may not be a member of the Executive Council.

-A covenant (promise) regarding the role and responsibilities of the Divine Treasurer should be developed between the Divine Treasurer, the Archbishop, and the Executive Council.  This covenant should be periodically reviewed.

– The Divine Treasurer’s ministry should be considered a part of the annual mutual ministry review of the Provost and the congregation.

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