Key Fiscal Principles (Preamble to the Structure Review Report to General Conference 2010)

1. Key Fiscal Principles (Preamble to the Structure Review Report to General Conference 2010) The Board of Elders and Board of Administration have affirmed some key fiscal principles for MCC going forward as guidance to our proposed new Governing Board and Moderator: • Operational funding for core functions will come from church tithes and offerings; generative and growth initiatives will be financed primarily through alternative sources and fund development. • The development of the annual budget will be missional and zero based (built from the ground up). • The budget will be a spiritual document that is in alignment with our core values and strategic plan. • Budget projections will be realistic and assumptions used in budgeting will be made transparent.

2. Key Fiscal Principles (Preamble to the Structure Review Report to General Conference 2010) The Board of Elders and Board of Administration have affirmed some key fiscal principles for MCC going forward as guidance to our proposed new Governing Board and Moderator: • We will seek to present a balanced budget (income covers expenses) and to monitor and manage fiscally to stay within budget. • We will seek to develop operating reserves through unanticipated financial gifts (bequests, tithes on bequests). • Borrowing against operating reserves will be repaid when funds become available. • We will ensure accountability and transparency through accurate, timely reporting and through implementation of appropriate checks and balances in the system. • We will honor the intention of designated funds, in accordance with the designated funds policy.