Today’s conference call was about Team Finance. Serena did a lovely job of facilitating. Here is the short version of what was discussed.
(We should be getting put into teams in the next week or so. Serena ask that we pray for staff as they make those decisions.)
Stewardship is the main focus. AIM is accountable first to God, then the Board of Directors and the donors. They are a standard non-profit organization and belong to an evangelical accountablity group.
Break Down of Where the Money Goes
30 % Air Travel -( AIM will purchase most of these tickets)
20% Ground Travel-Ferries, Taxies, Buses, etc.
25% Food / Lodging/ Ministry
10 % Training
15 % Administrative Costs
A treasurer will be chosen for each team based on personality assessments. (Don’t forget you calculators, Beavers!). The treasures will be contacted by AIM and ask to set up an account in their name. AIM will deposit the money allotted for that month for each person into this account.
The new financial accountability system goes something like this. Each team member will be given a large Ziploc bag and smaller Ziploc bags, one for each category of funds. The categories are as follows: Communication, Food, Lodging, Supplies, Utilities (rarely used), Visas ( all of our visas will be team expenses), Translators, Tolls/fares/fees. Every time money is spent a receipt must be obtained and placed in the Ziploc bag with the corresponding catergory. At the end of each month the receipts for the whole team are sent to AIM. THERE MUST BE A RECEIPT FOR EVERY EXPENSE. If a receipt would not normally be given, the team will carry receipt books with them. Small amounts can be signed by treasurer and large amounts will need more than one team members signature. Please write the category on the top of the receipts because they will not be written in English and our accounting department only speaks English.
Personal Money needs to be used for anything not included so far. Tithes and Offerings are not expected because this money is not considered income. However, personal money can be used for tithe and offering if you so choose.
That’s it guys!
