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PAGE ›› 32 THE PROPERTY HANDBOOK these assets belongs with the presbytery/UDC. The closing parish may express its wishes on the matter, but it does not have the right to make the final decision. When a union or co-operating parish is considering closure, the other partner Churches must be consulted, through the Joint Regional Committee. A proportion of the closed parish’s assets will go to the partner Churches involved. It is important that the schedule of assets, which accompanied the original agreement to unite, is kept up to date.
PAGE ›› 33 THE PROPERTY HANDBOOK SECTION 08 Gifting and loaning of congregational funds Introduction The 2008 General Assembly wished to make it easier for the Church’s financial resources to be shared more widely. In response, the Church Property Trustees, in consultation with the Council of Assembly, developed a process to encourage congregations and presbyteries to gift or lend funds to another congregation or presbytery. Through Press Go, the Church can collectively evaluate and fund promising growth projects, and parishes are urged to gift or loan funds through Press Go. Gifting of non-capital funds No external approvals are needed if a parish wishes to gift any of its surplus funds that have not come from the sale of a church property. However, the Church Property Trustees and the Council of Assembly expect that proposals to gift funds, particularly over $20,000, will first be discussed in principle with the Press Go Board. The donor church council should develop a formal proposal, to be put to the congregation for approval. Once approved, the funds can be gifted directly to the Press Go Board, or to the selected recipient parish or presbytery. Loans from non-capital funds The donor congregation does not need external approval to lend non-capital funds but, if the loan is more than $5,000, the recipient parish must seek the approval of presbytery and the Church Property Trustees to borrow funds. (See flowchart on next page.) A formal agreement, with clear terms and conditions, should be drawn up, with legal advice, and signed by both congregations. Gifting or loans from capital funds If a congregation has surplus funds from the sale of a property, the approval of presbytery and the Church Property Trustees is required before the funds can be transferred to another congregation or to a presbytery. Information on the detailed requirements for gifting or lending capital funds is available from the Trustees’ Office. The donor congregation, the recipient congregation and the presbyteries concerned must all answer a range of questions about the proposal, and how it will further the church’s mission.
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