Assets, Authorisation & Contracts
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I want to purchase a new asset, what do I need to do? (Cash Purchase)
You will need approval. Approval is based on the structure displayed below, as conveyed in the National Financial Policy.
| Approval Amounts | Approver |
| Up to the lowest of R20 000
(or 10% of the congregation’s 3-month rolling average tithes and offering income) |
Congregation Senior Pastor |
| Up to the lowest of R50 000
(or 15% of the congregation’s 3-month rolling average tithes and offering income) |
Regional Leader to the congregation |
| Up to R100 000 | National Finance Administrator |
| More than R100 000 | National Apostolic Team |
But the asset I want to buy is a fixed property/building?
All potential purchases of fixed property must be communicated by the senior pastor to the regional leader.
The regional leader must then assess the financial capacity and priority of the mentioned fixed asset purchase in the region. If the regional leader is positive, he must motivate the purchase in writing to the NFA, who then presents it to the National Apostolic Team.
After the National Apostolic Team has approved the purchases, the transaction will be administered by the NFA. The NFA will keep all parties up to date on the progress of the transaction.
I want to buy an asset financed with debt?
As far as possible, all asset purchases should be financed in cash. The same approval bands would apply, as with an asset purchased with cash. In addition to this, approval must be sought from the National Finance Administrator at nfa@shofaronline.org.
I would like to enter into a rental contract, what process do I need to follow?
All venue rent and office rent contracts must be submitted to the National Finance Administrator for approval, irrespective of value. Submission must include:
- Proposed rental agreement if available, otherwise highlight of the major terms and conditions applicable.
- Motivation for the rental, noting that the total venue and office rent may not exceed 20% of the three month rolling average of the tithes and offering income of the congregation.
- Pictures of the proposed property/space.
I would like to enter into a finance lease. e.g. copier. What is the process?
Send finance lease terms and conditions to the National Finance Administrator for approval (nfa@shofaronline.org).
