Finance

The general policy of CHBC is that we run off voluntary donations, mostly by bank transfer to “Cherry Hinton Baptist Church” Sort Code: 405240 Account Number: 00007681, but also through cash and a card reader. UK tax payers are encouraged to use the contact form to request a Gift Aid form. 5% of our general income goes to Tearfund, 5% to BMS World Mission, 3% to Landbeach and Milton Baptist Church and 1% to Hope into Action.
While Gathered Worship (including Weddings and Funeral) and most church groups run off voluntary donations, we charge those who attend Holiday Bible Club and Messy Play to cover costs. Also, we charge external hirers of the Family Centre not only to cover costs but also to support the work of the church.

Internal Financial Controls

Income is via bank transfer, cheque, credit card or cash. All cash payments are recorded on a standard cash income form which is signed by two church members and physically stored in the church office, and scanned copies are stored in CHBC-Accounts-Income on the cloud.
All payments are authorised by two trustees: either by our bank (direct debit, bank transfer) or on a standard cash expenditure form which is also signed by the recipient of the cash.
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Reserves Policy

Our reserves policy is to keep a reserve of money which gives a 3 month window to respond to a 50% sudden decrease in income during which all budgeted operational expenditure can be met. This reserve could act as a “pump priming” amount to encourage individual donations/grants for emergency expenditure, although our main policy with regard to maintenance is to be proactive and preventative. This reserve is unlikely to be required for managing cash flow as this is managed through judicious timing of payment of charitable giving, through any money in the Holiday Club fund and through any surplus in the General fund.