Section 1. Financial Policy

It shall be the policy or this church not to solicit pledges nor to pass an offering plate except as deemed appropriate and voted upon by the Elders. The Board of Elders shall be responsible for the policy governing the collecting, holding, disbursing, and accounting of all funds subject to the restrictions explained below. These tasks may be delegated to the Deacons and/or School Board, who shall periodically report to the Elders.

Section 2. Budget

It shall be the responsibility of the Board Of Elders (except as delegated to the Deacons) to propose an annual budget to the membership for discussion, modification, and approval. The Elders and Deacons shall have the authority to allow expenditures to exceed the approved budget by no more than 10%. These increases in the budget may be applied to individual line items as deemed necessary. Items not included in the budget may be approved by the Board of Elders provided that such additional items do not cause the total expenditures to exceed the budget by more than 10%. Total expenditures shall in no case exceed the budget in excess of 10% without the approval of the membership.

Section 3. Borrowing Money

It has been the policy of this church not to incur indebtedness. In the event that it becomes necessary, the Board of Elders, when authorized by the membership, shall have the authority to borrow money in the name of the church. In no case shall the amount borrowed exceed the assets of the church.

Section 4. Pastor's Salary

The Pastor's compensation shall be reviewed annually by the Board of Elders prior to the annual business meeting. In the event of termination of the Pastor by the church, the Pastor shall be entitled to one months salary.

Section 5. Dissolution of the Church

In the event of dissolution of this church all assets shall be contributed to another tax exempt Christian organization which is in agreement with the STATEMENT OF FAITH of this church, according to the discretion of the Board of Elders ruling at the time.