Finance & Administration
Ensuring financial decisions of the organisation are executed in line with the vision of the Trust.
The Finance Department
The Provincial Board of Finance supervises and oversees the financial operations of Living Word Ministries Trust. Its key mandate is to ensure that financial decisions of LWM are executed in line with the vision of the Trust.
The Finance and Administration Department coordinates secretarial services, central store-keeping, cash receipts, payments, and financial management issues. It exists for the smooth running of the organisation.
Working through sub-committees, the Board advises the organisation and decides on behalf of the Trust what kind of investments it can make, budgetary appropriations, and grants and loan approvals.
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Administrative Financial Policy
Our financial operations are guided by clear Biblical principles and transparent policies.
F1. Financial Purpose
The ministry acknowledges that all monies and gifts received belong to God and that the ministry will seek God's will in their use through prayer and scripture.
F2. General Fund
All funds received for and on behalf of the ministry are placed in the General Fund and disbursed according to need, unless the contribution is designated to a specific item or purpose.
F3. Use of Funds
The funds of the ministry are devoted solely to the expenses of the ministry and the promotion of its aims and objects as set out by the Board of Directors.
F4. Budgets
A budget is a financial plan for using God's money for His work. Once goals and objectives are written, the budget guides expenditure decisions for all ministry operations.
F5. Bank Accounts
The ministry maintains bank accounts for operating expenses. Two signatories are required for each account � ensuring accountability and proper oversight.
F6. Expenditures
All expenditures are paid by the Finance Administrator. Expenditures must stay within the limits approved by the executive committee.
F8. Audits
All accounts are audited annually by professional auditors. We hold ourselves to the highest standard of financial accountability.
F9. Reports
The Treasurer prepares reports as required. Our ministry can provide financial reports on request to anyone wishing to receive them � full transparency.
F13. Financial Year
The financial year of the ministry runs from January to December, with annual reports prepared and presented to the Board of Trustees.