05-05-2024 First Meeting regarding Financial Policy on Cash Receipt

financial policy     constitution and bylaws    financial reports

ID # 811 5065 7152

Passcode: OBN


Admin Team Meeting # 2: Minutes and Agenda 
Next Meeting:  Wednesday, May 22, 9am

05-05-2024, Admin Team Meeting # 1. 
See 05-16-2024, comments and suggested revisions below




An example of Financial Policies and Procedures


May 16, 2024: 

Revision Suggestion From Matt 
We need a statement that gives purpose, philosophy, rationale. This will help people in the future better interpret the policy and if necessary make modifications consistent with the spirit of it. It also should give hierarchy of documents in case one document contradicts another. For example, the articles of incorporation are the highest authority, followed by the constitution, bylaws, and then policies.

Incoming Fund Management
The OBN Leadership Team establishes these policies to help ensure the efficient processing of monies given to OBN as income. This includes receiving, processing, and reporting on this income.

Receiving of monies
  1. Via the U.S. postal service
    1. All income sent via the mail should be sent to either (1) the permanent address of the OBN Leadership Team or (2) a PO box designated by and for the OBN Leadership Team.
    2. At least two Leadership Team members shall have access to the incoming mail.
    3. The team member(s) who access(es) the mail shall be responsible for opening the mail and logging any monies received. The entries shall include the source of the monies, the type of income (e.g., check or cash), the amount, the date received, the reason the monies were given (e.g., contribution or payment), and the initials of the person logging the information.
    4. The log shall be made available (but not revisable) to the administrative team of the OBN Leadership Team.
  2. Other delivery means
    1. The OBN Leadership Team discourages contributions made by any other means than the postal service. Should the team adopt some form of electronic transfer of funds, policies regarding those transfers shall be developed.
    2. If monies are presented in person to any OBN Leadership Team member, that member shall immediately contact the OBN treasurer via email or text and give the information listed in section c above and how the monies shall be sent to the treasurer.
  3. Types of incoming monies
    1. At this time, checks are preferred. The Leadership Team should explore electronic means of transfer of funds and develop policies should one or more be adopted.
    2. The Leadership Team prefers not to receive cash. However, should this occur the following procedures shall be followed. If via from a church or other organization, the procedures given above shall be followed and the church/organization shall be contacted via to verify the amount. If the cash is a payment for participation in an OBN activity (e.g., camp or Oahu Bible Institute registration), the amount shall be logged and the person in charge of the activity shall be contacted.


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