Assets

  1. All assets acquired by this ministry shall be recorded in an asset register at value prescribed in the Finance and Investment Policy documents.
  2. The asset acquired by the ministry shall be the property of the ministry and registered in the name of the ministry. This includes fixed, moveable, paper or electronic assets.
  3. The assets register shall be maintained in the office of the Executive Director but shall be updated by the Finance and Investment Director.
  4. Any dispute or disciplinary process with any individual member, groups, of individual members or employee(s) of the ministry shall not affect the ownership of the assets by the ministry; even if there is sufficient evidence in the participation of the person(s) in the acquisition of the assets either with ministry resources or their own resources.
  5. Disposal of assets shall be with the express authority of the President who shall duly inform the board members before such action takes place. The disposal may be in the form of donation, trade or in obedience to biblical principle of economics.
  6. In the informing the board, the President shall make all efforts to explain and furnish Board members with reasonably sufficient information pertaining to the disposal of such assets.