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446 Cooperative Ventures Joint Mission Fund (CVJMF)
446.1 Purpose
a) To assist Cooperative Ventures to contribute to funds which resource the national work of the Associated Churches of Christ, Congregational Union, Methodist Church, Presbyterian Church; and to receive contributions from Cooperative Ventures for the Anglican Board of Missions.
b) Each Partner shall be responsible for determining what shall constitute “resourcing the national work.”
446.2 CVJMF Committee
a) The Committee shall meet twice yearly.
b) Functions of the Committee shall be:
i) to review the performance of the Fund
ii) to set annual targets and formula for distribution of funds
iii) to determine which “agency” shall provide financial services.
c) The Committee shall be comprised of:
- 1 representative of the of the Anglican Church;
- 2 representatives each of the Associated Churches of Christ, Congregational Union, Methodist Church, Presbyterian Church
- 2 representatives of the Forum of Cooperative Ventures.
- The Executive Officer of the Forum shall act as Secretary to the Committee.
d) The Forum shall be responsible for convening meetings of the Committee.
e) The Committee prepares the contract, contracts out the administration of the Financial Services and appoints an auditor.
446.3 Oversight
a) The Forum of Cooperative Ventures shall be responsible for oversight of the Fund.
b) A report on the operation of the Fund together with audited financial statements shall be produced annually by the Financial Services Contractor and shall be sent by the Forum to all recipients. It shall also be available to contributors.
446.4 Operation
Timetable
Dates will be negotiated annually at the October meeting of the CVJMF committee.
a) 7 March each year - The Partners/recipients submit their bids to the CVJMF.
b) 31 March each year - The CVJMF Committee negotiates the total contribution and establishes a percentage for each recipient.
c) 10 April each year - The Committee communicates directly with each parish/local congregation with copies to their JRCs advising the proposed target payment for each CV.
d) April/May CVs shall negotiate or confirm their final contribution to the CVJMF with their local JRC.
e) 31 May each year Each JRC shall report agreed contributions to the CVJMF Financial Services Contractor through the Forum Office. If deemed necessary the Forum Office may call the Committee together.
f) 20 June each year Forum Office advises the recipients of the agreed contributions and confirms the amount with each CV.
Communication
When advising CVs in April, the Committee will include
a) their last years contribution
b) the current year’s target
c) proposed next year’s target
d) how the money will be spent and the projects of each recipient.
Management
a) Each JRC has a management role in the CVJMF process and will be advised of this by the Forum.
b) Regional Courts of the Partners are not responsible for any management of the CV national levy. They shall establish their levies alongside the CVJMF process.
446.5 Financial Year
The Financial year of the Fund shall be from 1 July to 30 June.
446.6 Changes to the Fund
a) Except for any Cooperative Venture that dissolves during the year, all changes to the Fund shall take place from 1 July.
b) Any CV formed during the financial year of the CVJMF shall join the scheme at the following 1 July. In the interim, payments shall continue to be made to the Partners on the same basis as made before the formation of the new CV.
c) On the formation of a new CV, the Forum shall advise the CVJMF and the Partners involved of the formation date of the new CV and also the denominational affiliations that are involved in the partnership at the local level.
446.7 Financial Services
The Financial Services Contractor shall be responsible for:
maintaining a Bank Account in the name of the Cooperative Ventures Joint Mission Fund
- ensuring that all receipts are promptly deposited in the Fund Bank Account
- recording all income
- making all payments
- maintaining accurate accounting records of the Fund
- closing off the account at the end of each month and making payments to the recipients
reporting quarterly to:
reporting monthly to:
- replying promptly and accurately to all correspondence
- maintaining liaison with the Forum.
446.8 Additional Recipients
a) Any Diocese of the Anglican Church may make application to be a member of the Fund.
b) Any region of the Partners may make application to be a recipient of the Fund. Such application shall clearly state the purpose of the funds and the Cooperative Ventures involved.
446.9 First Charge on Fund
The first charge on the CVJMF annually shall be the costs of Financial Service and of the audit of the fund as agreed by the Committee.
446.10 Review of Fund
The Fund Agreement shall be reviewed after 3 years of operation.
446.11 Commencement Date of the Cooperative Ventures Joint Mission Fund.
This Revised Cooperative Ventures Joint Mission Fund Agreement came into operation on 1 July 1998.
446.12 Payments by CVs
Each CV is encouraged to forward monthly contributions based on the agreed annual contributions to the CVJMF. These payments ideally are in the form of monthly automatic bank transfers.