Illinois Great Rivers Conference 2025 Journal-Yearbook
11. In compliance with ¶619 and with the consent of the Bishop, Michael Potts was elected at the 2022 session of the Illinois Great Rivers Annual Conference as the Annual Conference Treasurer/Director of Administrative Services for the 2020- 2024 quadrennium. 12. The IGRC has established as its policy that salaries, travel allowances, and benefits of Conference employees be treated as prior claims and paid each month at 100% of the budgeted amount. 13. The IGRC has established as its policy that all budgeted line items not considered to be “prior claims” be paid at a rate not to exceed the amount received in apportionments during the fiscal year. 14. The IGRC has established as its policy that budget line items designated for non- prior claims, when apportionment collections shall have been received in an amount sufficient to allow an expenditure of funds, shall then only be paid in 11 monthly installments totaling no more than 65% of the budgeted amount. 15. The IGRC has established as its policy that a final payment will be made at the end of the fiscal year for budget line items designated as non-prior claims in an amount equal to the difference between the line item’s pro-rata share of apportionments received during the fiscal year and the sums for said line item paid out previously in the fiscal year pursuant to the formula set forth in the preceding paragraph. 16. The IGRC has established as its policy that any resolution approved by the Annual Conference authorizing the expenditure of funds for special projects not included in the budget be approved annually by the Annual Conference until the project is completed and that this review will be initiated by a report on the project submitted to the Annual Conference by the CCFA and the Conference organization responsible for the project. 17. The General and Jurisdictional Conference Apportionments shall be paid at 100% of the amount apportioned to the Illinois Great Rivers Conference. 18. CCFA must approve the establishment of all financial accounts opened in the name of the Illinois Great Rivers Conference, including all districts, boards, committees and commissions. 19. When the Conference receives contributions that are restricted in terms of the use or timing of the expenditure, the amounts are recorded as restricted net assets. These accounts demonstrate the conference’s compliance with legal restrictions on the use of contributions. As a general rule restricted net asset accounts do not earn interest for the restricted purpose. 20. Custodial (in/out) accounts are not part of the net assets of the IGRC and shall be established when the following criteria are met: a. The source of funds for the account are derived from user fees and the funds are not donor-restricted. b. CCFA and/or the Director of Administrative Services agree to accept the funds. 21. Board designated accounts are unrestricted net asset accounts which have been set aside for a specific purpose by a agency/board/committee/commission within the Conference. In order for CCFA to classify funds as board designated amounts a written request must be received from the appropriate agency/ board/committee/commission. CCFA may also request and approve its own designations. Apportioned funds will generally not be board designated unless approved by CCFA. Since board designated accounts are a segregation of conference funds, they as a general rule do not earn interest. Unlike
314 Historical and Official Information
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