ALL Donors should please note the following arrangements:
Any donations which are restricted to a specified purpose will be treated in the following manner:
- All restricted donations will be used for the sole purpose for which they are designated.
- Should there be a shortfall in the donations for the purpose, then these donations will be invested until the shortfall is overcome and/or general Parochial Church Council (PCC) funds are available to make up the shortfall.
- Any surplus donations shall be deemed to be unrestricted and placed into PCC general funds.
- Any donations made to a generic area, e.g. “Church Fabric” shall be recorded, invested and used as appropriate.
- Records shall be kept of all restricted funds together with the name of the donor, purpose of the donation and evidence when spent.
Restricted donation towards the purchase of a piano:
- All restricted donations made and any tax accrued from the donations shall be used to pay for the piano.
- If, when all donations are received, there are insufficient funds to purchase the piano, then PCC general funds may be used to make up the shortfall.
- If PCC funds are not available then the restricted funds will be banked until such time as funds are available to buy the piano.
- If, when all donations are received there is mnore money than is required to purchase the piano then the surplus funds will be deemed unrestricted and be placed in PCC general funds for use elsewhere.
This notice applies to all appeals, donations and collections which are identified as restricted prior to collection. (I.E. Our Harvest collection). When service collections, (I.E. Our Harvest services), are designated for a specific purpose, they shall include only “open plate” collections and not the regular envelopes donated weekly or regular standing orders.