Evangelical Faith Church (E-Faith Church)

Our Commitment to Transparency and Stewardship

At Evangelical Faith Church (E-Faith Church), we believe that financial integrity is an expression of our worship and obedience to God. Every offering, tithe, and gift entrusted to the Church is managed with utmost care, transparency, and accountability.

This Financial Management and Accountability Framework, approved by the Urgent Mission Council (UMC), defines how all E-Faith Churches handle finances — from collections to budgeting, spending, and reporting. It ensures that our financial operations reflect honesty, stewardship, and compliance with biblical and administrative standards.

Governance and Oversight

  • Urgent Mission Council (UMC): Provides spiritual oversight, ratifies major financial decisions, and approves annual consolidated reports.

  • Church Council of Elders: Oversees local Church finances, reviews budgets, and ensures compliance with this framework.

  • Pastor: Acts as lead steward, authorises payments, and ensures faithful use of resources.

  • Deacons / Finance Committee: Handle offerings, maintain financial records, and prepare reports.

  • Church Members: Serve as the earthly accountability body and receive financial updates regularly.

Financial Principles

  1. Integrity: All transactions are handled with honesty.

  2. Transparency: Members have access to accurate, timely financial information.

  3. Accountability: Church leaders act as faithful stewards of God’s resources.

  4. Stewardship: Financial decisions prioritise ministry and community welfare.

  5. Compliance: All operations adhere to Church policy, Council directives, and legal standards.

Financial Management Practices

Income

E-Faith Churches generate income through tithes, offerings, donations, fundraising projects, grants, and approved ventures. All funds must be receipted, recorded, and banked promptly.

Cash Handling

  • Offerings are counted by at least two deacons in the presence of an elder.

  • Transactions are recorded in an Offering Register and deposited within 48 hours.

  • Petty cash is limited and tightly controlled.

Bank Accounts

  • Each Church maintains one main account in the name of the local Church.

  • Accounts have two or three signatories (Pastor, Deacon/Treasurer, and an Elder).

  • No signatory may authorise payments to themselves.

Expenditure Control

  • Spending follows an approved annual budget.

  • Unbudgeted expenses exceeding 10% of the annual budget require UMC ratification.

  • Each payment must be supported by receipts or invoices and documented with a Payment Voucher.

Budgeting and Reporting

  • Annual budgets are prepared by each Church and approved by the Council of Elders.

  • Monthly and quarterly financial reports are reviewed locally and shared with members.

  • Annual consolidated reports are submitted to the UMC by 31 January each year.

  • Reports include income and expenditure statements, bank reconciliation, and asset records.

Auditing and Compliance

  • A Finance Review Committee conducts annual internal audits.

  • The UMC Audit Committee may conduct external audits as needed.

  • Audit recommendations must be implemented promptly.

  • Any breach of this policy attracts disciplinary measures, including suspension or legal action if necessary.

Asset Management

All Church properties are recorded in an Asset Register, insured where applicable, and used only for authorised purposes. Disposals or transfers require UMC approval.

Accountability to Members

E-Faith Churches uphold accountability to members through open reporting and an Annual Financial Meeting, where audited reports are presented and discussed.

Policy Review

This framework is reviewed every three (3) years by the Urgent Mission Council to ensure alignment with best practices, Church growth, and relevant financial regulations.