FINANCE

All finance matters in the ministry and the branches are in the docket of the established administrative councils. At least every branch maintains a Bank Account and which is operated by three signatories.

All vouchers pertaining to the transactions of the account shall be kept or maintained by the treasurer/finance administrator. The Overseer and Senior Pastors shall also be involved in sourcing of funds both internally and externally as well as the administrative councils in the ministry

The finance unit has the following roles;

  • Receipt, recording, depositing and investing of funds.
  • Payment of all expenses;
  • Balance all accounts, and reconcile cashbook balance with the bank account post ledgers where applicable;
  • Reconcile all bank accounts;
  • Maintenance of the general operating funds/accounts, the capital fund, the outreach fund, and the fundraising account;
  • Responsible for the W.V.C.SS office budget and related equipment in cooperation with the Office Administrator;
  • Maintenance of a comprehensive list of assets;
  • Preparation of monthly financial reports for presentation and approval at Council meetings;
  • Preparation of a year-end report including annual financial statements, the new year budget for Council approval and approval at the Annual Congregational Meeting and other matters assigned by Council; and
  • Recommends for Council’s approval arrangements for regular independent external reviews of financial processes and accounts.