The national board has a fiduciary responsibility to protect the assets of the organization and to not do anything that would be perceived as gambling. All investments are held with CIBC Wealth Management and managed in accordance with an investment policy approved by the national board and reviewed on an annual basis. The investment policy stipulates the risk factors (low), investment allocations and other directions (like not investing in funds that are controversial or contrary to our religious beliefs) of the portfolio.
The investments in the General Fund are a mixture of Canadian Bonds, Canadian Equities & Equivalents, U.S. Equities, Emerging Markets and cash (for liquidity purposes).
Proceeds from Church Excess Funds
If the church has accumulated funds on deposit in excess of $10,000 (or 3 months operating requirements) for an extended period of time, they are to be transferred to the national office to be held In Trust until such time as the funds are required. Funds will be held in investments with accrued interest and gains earned on balance.
The procedure for investing and redeeming funds in Trust is as follows:
Proceeds from Church Property Sale