Capital Expenditures Policy

By /

YATES BAPTIST CHURCH

CAPITAL EXPENDITURES POLICY

Adopted August 20, 2003

Purpose

The purpose of this policy is to provide guidelines and procedures for the acquisition of capital or fixed asset items, more specifically land, buildings, and furniture, fixtures, and equipment, etc. Only capital items with a cost of $500 or greater will be considered as capital items. Capital items with a cost of less than this amount will be expensed as part of the operating budget.

Policy

On an annual basis as part of the budget process, a capital expenditures budget will be prepared by the Finance Committee using input from other church committees (see below), the deacons, and staff. Additionally, the aforementioned groups will be asked to project capital expenditures for an additional two-year period beyond the next operating budget period.

The capital expenditures budget for the next fiscal year will be approved as part of the annual operating budget process. Additionally, capital items with a cost of $5,000 or more will be reapproved, immediately prior to acquisition, by the church body in a regular or called business meeting.

It will be the responsibility of the Finance Committee to make recommendations regarding the source of funds for acquisition of capital items. Such alternatives will include fundraising campaigns, use of existing unrestricted funds, indebtedness, etc.

This policy will be approved by the church body and be periodically reviewed by the Finance Committee for update and revision.

Committees

  • Audio/Visual
  • House and Grounds
  • Kitchen
  • Long Range Planning
  • Music
  • Preschool
  • Transportation
  • Weekday Early Education
Scroll to Top