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Finance

Executive & Glebe Committee

Chair: Mr John Kempsell

Secretary: Anthony Demby

Accountability

The Executive and Glebe Committee is accountable to the Diocesan Board of Finance (the "Board").

Terms of Reference

The E & G Committee acts as the Standing Committee of the Board, dealing with all matters of finance. All matters of policy and major financial decisions, including the approval of the budget and Financial Statements, are referred to the Board after due consideration by the Executive.

The Committee will consider all matters of capital expenditure, excluding the sale and purchases of parsonage houses, which will be responsibility of the Parsonages and Property Maintenance Committee. This includes the monitoring of commercial (i.e. excluding ministry purposes) rents from all sources.

It also supervises the Fairer Shares allocation of Parish Share and monitors payments of Share.  Archdeacons make regular reports on the parishes in arrears.

Regular items for decision making delegated from the Board:-

  • Grants & Loans up to £25,000.
  • Grants from the 'Church Sales Fund'.
  • Authorisation of Interest Bearing Loans within agreed guidelines.
  • Authorisation of Back-to-Back bank loans within agreed guidelines.
  • Maintenance of proper accounts.
  • Contingency payments within the budget allocation.
  • Monitoring the financial performance of the 'Ministry Fund'.

The Committee will be responsible for providing financial services to other Boards and Councils of the diocese and to parishes.

The Board of Finance is the 'Designated Diocesan Authority' to hold parish property and funds in trust on behalf of the parishes, having taken over the role in 1998 from the Rochester & Southwark Diocesan Church Trust. The 550 financial 'Trusts' are administered by the Financial Services section and the property is administered by the Property Department of the Board of Finance. The Committee is required to monitor the transactions and ensure trust rules are complied with.

The committee will also deal with all matters not directly within the terms of reference of the other main committees.

There is an 'Urgent Decisions Group', which will consist of the Chair of the DBF, Vice Chair of DBF, Chair of Sites Committee and Chair of Parsonages & Property Maintenance Committee. Decisions taken by this group will relate to purchases and sales of property which could not otherwise await a regular meeting. These decisions will be reported to the Committee at the next meeting.

Frequency of Meeting

The Executive and Glebe Committee will normally meet 4 times a year.

Membership

Ex-Officio Board Chairman

1

Vice Chairman of the Board

1

Archdeacons

6

Appointed by DBF

9

Co-opted

4

Maximum membership

21