The General Conference Executive Committee has from its beginning formulated financial policies to guide it and its subsidiary organizations in the conduct of their activities. Policies and methods are outlined in the General Conference Working Policy.
With regard to care and responsibility in financial operations, the General Conference Working Policy (1992–1993 ed. , p. 439) states:
“Cash Basis— All activities of a recurring nature for which denominational financial support is involved shall be conducted on a cash basis. All funds necessary for such operations shall be in hand or provision shall be made before commencement of activities.
“Financial Responsibility— Neither the General Conference nor any of the individual divisions composing it shall be held financially responsible for any obligations it has not assumed by its own action. This is also the general policy of the union and local conferences/missions and other organizations and institutions of the denomination.
“ Budget Plan —All denominational organizations shall follow the budget plan of financial operating. The annual operating budget shall be approved by the controlling committee. It shall be the responsibility of the officers of each level of organization to require subsidiary organizations in their territory to follow the budget plan.
“ Monthly Financial Reports —Monthly financial reports showing the actual operating expenses and budgetary provision to date shall be prepared and studied by the organization’s administrative officers. Treasurers shall keep controlling boards and committees informed by providing monthly financial statements except in the case of relatively inactive organizations in which case statements may be submitted quarterly. Boards and committees should compare these statements with the budget adopted at the beginning of the year and be prepared to act with the officers in increasing income and/or decreasing expenditures as may be necessary.
“Authorization for Appropriations— In the use of General Conference, division, union, and local conference/mission funds, appropriations to subsidiary organizations shall be made only by specific action of the controlling committees.”