Riverview Review 2023 - Flipbook - Page 13
to improve and simplify this further
to provide meaningful and effective
reporting formats.
5. Review of Debt
& Investment Strategies
The Committee will be continuing
to monitor interest rates as some
our facilities mature in 2024 and are
planning to take a comprehensive
review at that time, based on the
most current information available.
6. Budget & Capex
The Committee, in liaison with the
Executive Minister, continued to refine
the budget during 2024. We continue
to hold to the discipline of “core
spend”.
•
Asset identification and `
recording was completed as one
of the priorities.
•
The Committee has
recommended to the Board
that the church continue to
pursue the current modest debt
reduction program during 2023.
•
The Committee also reviewed
the internal inter-entity
transactions to ensure that
we operate with commerciality,
transparency and accountability.
•
Continue the process of
rationalising historical giving
platforms.
Capex planning continues to be
developed for the following purposes:
•
Continue to monitor interest
rates and to keep a close eye on
the economy and to liaise with
our bankers to this end.
•
To practice and promote good
stewardship in our oversight of
the financial resources available
to our church.
•
To continue to prepare
consolidated annual financial
reports for more meaningful
disclosure.
•
To develop our management
reports to assist with simpler
and more strategic disclosure,
still in keeping with strict
timeframes, to assist the board
with informed decision making.
•
Ongoing review and monitoring
of our financial situation to
ensure our church is sustainable
now and into the future.
•
•
General facility and equipment
maintenance. This is important
to ensure present and future
capacity to appropriately care
for our building and equipment.
Focus on finalisation of the
works to the first floor on the
West end of the building above
the Kids church area to enable
the church to utilise this space.
Committee Effectiveness
Meetings are conducted efficiently
and continue to be characterised
by open, effective, and caring and
prayerful deliberation. The Committee
continues to be focused on providing
the Board with recommendations
and solutions with the highest
level of financial governance and
accountability.
Future Priorities
During 2024 the Committee is
planning to:
Muriel Oliver
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