Section 6. Local Church Finances
6.2 Banking and Signing Authorities
POLICY - The church council shall designate certain of its members as signing authorities on church accounts. The lead pastor and council treasurer shall be included as signing authorities, by virtue of their offices.
- The council shall provide the National Office with a letter stating that the designated individuals have signing authority, and shall provide the necessary resolutions, specimen signatures or other documentation as required by the bank.
- The council shall establish that all cheques require the signature of at least two signing authorities who are not related by blood or marriage.
- The council shall establish and ensure that there are at least three signing officers at any time.
- The council shall ensure that all records and authorities are current, revoking any out-of-date designations of signing authorities.
- A bank reconciliation is to be conducted on a monthly basis and reviewed and approved by the church council treasurer.