The Gordano Valley Circuit


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Reserves level

Policies

Gordano Valley Circuit Reserves level and policy

The CLT reviewed the Reserve level and policy during the year, taking on board comments made by the District Chair at the Spring District meeting of Circuit Superintendents, Treasurers and Circuit Stewards 2018, and the suggested framework for a Circuit annual report notes. At the September Circuit Meeting the following Reserve Policy was approved:

The minimum policy level of readily available part of the Circuits General Fund is such as to cover 4 months of the coming year’s budget less the salary costs of the presbyters. This would be held 50% by the Circuit and 50% by the Churches in the Circuit. This should be sufficient to meet any unforeseen item of major expenditure on manses and/or to be able, in the short term, funding planned activities in the event of any inability to raise the full Circuit Assessment from churches.

Revised September 2018

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