NOVEMBER 15 @ 6:30PM
Budget overview meeting and Q&A.
The Annual Budget Vote will follow the 10am service.
Do you have an open book policy?
Madison Park Church does have an open book policy as it pertains to finances. Simply contact our office and we will either provide you with the appropriate information or connect you with someone who is qualified to do so.
What happens during the Open Forum?
The Open Forum is a town hall style event that will last approximately 1 hour. During this time, elders and senior leadership will walk through the details of the proposed budget and answer any questions that the congregation may have directly related to the budget.
What happens during the Annual Meeting?
The Annual Meeting is where the annual vote on the next fiscal year’s budget takes place. This meeting will be called to order, there will be a brief review of the budget that was shared during the previous open forum night and the vote will take place.
Because the Open Forum that takes place on November 15 is the designated time for questions and answers, there will be no open questions and answer time during this meeting.
How was the budget created?
We strongly believe that having a plan is crucial to financial responsibility and the wise stewardship of resources. Our budget is created annually by the staff based on ministry goals and the costs of those goals. These goals and costs are submitted to the Executive Leadership Team where a first round of feedback is given. Once any adjustments have been made, the budget is submitted to the Treasurer and the Elder Board for further feedback and, ultimately, final approval. It is then presented to the congregation and voted on during the Annual Meeting on November 19, 2023.
Who qualifies to vote on the budget?
A qualified voting member of the church is defined as;
The corporation’s membership shall consist of all who have been saved by grace through faith (Ephesians 2:8) and who also have been in regular fellowship with the church for the preceding three months, including children who have not reached an age of accountability but who participate in the church’s life.
The corporation’s voting membership shall consist of persons who:
a) are corporation members (as above), and
b) are 16 years of age or older, and
c) have signed or orally given assent (in the presence of a corporation office or pastor) to the following Declaration of Fellowship:
“I declare that I have accepted Jesus Christ as my Lord and Savior and that I have chosen to follow Him. I declare that I consider Madison Park Church of God to be my home and embrace its Mission and Core Values, and am actively supporting the church through financial giving.”
Voting Members and only Voting Members may vote at Business Meetings of the corporation, either in person, by absentee ballot, or secure digital ballot.
Voting Members will be asked to affirm their Declarations of Fellowship at each Business Meeting in which they exercise their voting privileges.
If the status of any Voting Member is challenged in a Business Meeting of the corporation, a majority of the Board of Elders present must sustain the challenge or the person will be eligible to vote.
Do you have financial accountability?
At Madison Park Church, we are committed to maintaining high standards of financial integrity through internal control systems and an annual external audit conducted by Donovan CPA’s. Organizationally, we have a Financial Team that provides leadership and oversight to the church’s finances and is accountable to the Elder Board. The church budget is presented for approval to the local voting membership of MPC. Additionally, MPC is accredited by the Evangelical Council for Financial Accountability (EFCA) for compliance with the ECFA standards of Responsible Stewardship.
Why are the individual staff salaries not released for public viewing?
Salaries are based on customized salary reports provided by one of the leading compensation data companies in the country. Madison Park Church believes that the releasing of this kind of personal information can lead to comparison and discontent among staff members, as well as in the congregation. The public display of salaries fosters and environment of value assessing as to whether or not a staff member should get what they are paid, without being privy to the most recent performance review and other factors that contribute to setting a salary. We believe in trusting those in leadership who are making financial decisions, specifically our Financial Team and Elder Board.
If you have questions about anything in this packet...
Voting will take place after the service on the weekend of November 19, 2023. There will be a Q&A event for questions and answers on November 15th at 6:30pm. If you have any questions before that time, please call the church office at 765-642-2000, and we would be happy to discuss those questions with you.