Friday, December 11, 2009

MEMORIAL FUNDS # 02:008

PURPOSE:

To ensure that all memorial contributions are accepted, recorded and used consistent with Chapel By The Sea’s Policy.

SCOPE:

All memorial donations received by Chapel By The Sea shall be consistent with the stated Policies of Chapel By The Sea. Memorial Funds are intended for specific, tangible needs and programs, involving ministry and materials, or material things, which are perceived as meaningful for the well-being of the Church, provided that such funds are not used for ongoing ministry and other programs that are normally funded by general budget, or for routine maintenance or major capital project expenditures.

PROCEDURE:


  • All memorial funds received shall be deposited to the Memorial Account until the Session approves the use of these funds, upon recommendation of the Memorial Funds Committee.
  • The Church Administrator shall include the Memorial Account status in monthly financial reports to the Session.
  • A family may donate funds in memory of a loved one for a specially identified project, provided the project has the prior approval of the Session. Shession’s approval is required for any other project memorializing an individual, whether or not that is to be funded by family or friends.
  • Only Members and Affiliates names are eligible for placement on the memorial wall plaques in the Chapel. No memorial plaques or names of contributors shall be placed on any buildings, furnishings, or other property of the Chapel.
  • The Memorial Committee shall be responsible for acknowledgments to the deceased’s family and a thank you to the donor.

GUIDELINES:
The Memorial Fund Committee should be guided by the following int heir management of requests for the use of such funds:

1. Memorial funds are unspecific funds for the good of the Church overall.

2. Memorial funds are akin to an "escrow" account, accumulating and earning interest.

3. Memorial funds distribution of spending covers items which are not part of our regular budget.

4. Congregational perception should be taken into account as far as timing of spending is concerned.

5. There is an overall fiscal/financial responsibility involved in reviewing requests for distribution of Memorial Funds.

6. Attention should be paid to the number of people in the Church family who would benefit from a request for funds.

7. Distribution should probably be made compatible with the size and nature of our congregation.

RESPONSIBILITY:

The Church Administrator shall be responsible for maintenance of the Memorial Account, the Session is responsible for approval of distribution of all Memorial Funds, generally based on the recommendations of Memorial Funds and Budget and Finance Committees.

LAST REVIEWED 2008