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Reliant missionaries may request the Reliant Finance Department to transfer to transfer funds internally out of the MTD account for which they’re responsible to another Reliant ministry account, including another missionary MTD account or church/project account. The request is usually made due to an ample fund balance in the missionary MTD account and a financial need in another. Requests come from active missionaries and exiting missionaries.
Requests from Active Missionaries and Exiting Missionaries
Missionaries may download the internal MTD Fund Transfer request form from Staffnet and email their completed form to finance@reliant.org. The following rules apply:
- One approved MTD fund transfer request is allowed per year. If an internal MTD fund transfer request has already been approved in the year of exit, no other fund transfer may be approved upon exiting.
- The MTD account balance must be more than or equal to two months of the MTD goal plus the internal transfer amount requested. This rule does not apply to exiting missionaries or Associate missionaries.
- Transfers cannot exceed $3,000 for MTD account to MTD account transfers. *see exception details below
- Transfers cannot exceed $5,000 for MTD account to Dept account transfers. *see exception details below
- Finance Director and Director Director of Financial Operations and the Director of Organizational Affairs & Treasurer must approve all transfers made under this policy.
Automatic Internal Fund Transfer Policy for MTD Accounts of Exiting Reliant Staff
When a Reliant missionary exits with a balance remaining in the MTD account they’re responsible for, the following policy will automatically apply toward the treatment of any remaining funds in the closed MTD account:
1. If the fund balances is $10,000 or more, 100% of the remaining balance exceeding $10,000 will be transferred internally transferred to the Reliant church ministry or project fund most closely associated with the missionary’s ministry.
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| $14,000 | Remaining final balance in the MTD account of college church ministry/Sue Smith |
| ($4,000) | Excess of $10K transferred internally transferred to Reliant church ministry fund for College Church |
| ($3,000) | Sue Smith's request for MTD fund transfer to another Reliant account, approved by Reliant management. |
| $7,000 | Total amount transferred to Reliant staff ministries fund upon final closure of the MTD account. |
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If there was a previously approved MTD transfer request granted within the same calendar year that the missionary exited, no additional internal transfer request can be approved. Therefore, after the >$10K excess is transferredinternally transferred, the entire remaining fund balance will be internally transferred to the Reliant SMF.
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2. If the fund balance is under $10,000, the remaining amount will eligible for internal MTD fund transfer requests. After any approved MTD fund transfer request is applied, the remaining balance will be transferred be internally transferred to the Reliant Staff Ministry Fund.
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3. If the exiting Reliant Missionary is a Sojourn Community Church Intern in the URBN Experience, AFTER the process and approval of any prior submitted MTD fund transfer requests, any remaining ministry fund balance will be transferred internally transferred directly into project FD0840 - Sojourn Community Church \ URBN Experience to be used in that ongoing Reliant ministry project fund. This is a special exception that has been arranged with Sojourn URBN Experience in order to provide ongoing funding to this ministry.
Exception Requests:
- All exception requests for a MTD an internal MTD fund transfer above the $5,000 policy limit up to $20,000 will need to go to the Executive Management Committee (EMC) for review and approval.
- All exception requests for a an internal MTD fund transfer above $20,000 will need to go to the Audit Reivew Committee (ARC) for review and approval.
Annual Board Reporting
At year end, Reliant management will provide a summary report for review by the Audit Review Committee. The report will list all internal fund transfers initiated by staff from MTD accounts that were approved by management under this policy for that year. This summary report will show the fund numbers and names of persons responsible for the funds involved, amount of the transfers, and the purpose behind the MTD fund transfer request. Note: only transfers initiated out of staff accounts should be included, transfers initiated from department/ministry funds need not be included on the report. As the transfers are complete the summary report should be updated.
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