GCM employees may request the GCM Finance Department to transfer funds out of the MTD account for which they’re responsible to another GCM ministry account, including another staff MTD account or church/project account. The request is usually made due to an ample fund balance in the staff MTD account and a financial need in another. Requests come from active employed staff and exiting staff at the end of their GCM employment. 

Requests from Active Missionaries and Exiting Staff

Staff may download the MTD Fund Transfer request form from Staffnet and send it to finance@gcmweb.org. The following rules apply: 

1. One approved MTD fund transfer request is allowed per year. If an MTD fund transfer request has already been approved in the year of exit, no other fund transfer may be approved upon exiting.
2. The account balance must be more than or equal to two months of the MTD goal plus the transfer amount requested. This rule does not apply to exiting employees.  
3. Accounts must have approved budgets. 
4. Transfers cannot exceed $3,000 for MTD to MTD account transfers.
5. MTD account to church/project accounts cannot exceed $5,000, when the request is made by a non-manager level employee. If the request is made by the director/manager/project leader of the department to transfer funds to another GCM department or staff account, there is no limit. 
6. Finance Director and Director of Organizational Affairs & Treasurer must approve all transfers made under this policy.
   
   

Automatic Fund Transfer Policy for MTD Accounts of Exiting GCM Staff

When a staff member exits GCM employment 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 to the GCM church ministry fund most closely associated with the missionary’s ministry.

The amount transferred to the GCM church ministry fund will remain in that account, but can be accessed through the GCM ministry grant process. If there is no obvious GCM church ministry fund associated with the missionary’s work, GCM management will determine the GCM fund that provides the closest reasonable match to the field ministry of the missionary. After the excess balance transfer is applied, the remaining $10,000 is eligible for MTD fund transfer requests. The remaining fund balance after approved MTD fund transfer requests will be transferred to the GCM staff ministry fund. 

Example:

If there was a previously approved MTD transfer request granted within the same calendar year that the staff exited, no additional transfer request can be approved. Therefore, after the >$10K excess is transferred, the entire remaining fund balance will be transferred to the GCM SMF.

2. If the fund balance is under $10,000, the remaining amount will eligible for MTD fund transfer requests. After any approved MTD fund transfer request is applied, the remaining balance will be transferred to the GCM Staff Ministry Fund.

For Example:

If there was a previously approved MTD transfer request granted within the same calendar year that the staff exited, no additional transfer request can be approved. Therefore, the entire remaining fund balance will be transferred to the GCM staff ministries fund. 

Annual Board Reporting 

At year end, GCM management will prepare a summary report for review by the Audit Review Committee. The report will list all MTD fund transfers that were approved by management under this policy for that year. This summary report will show the funds involved in the transfers, amount of the transfers, and the purpose behind the MTD fund transfer request.