4.2 Management Committee
The management committee of the board of administration shall consist of four members appointed by the board of administration from among its members, one of whom is ministerial. The committee shall meet in conjunction with board of administration meetings and at such other times as it deems necessary. It shall report to and be amenable to the direction of the board of administration in the interim between general conference sessions. The committee shall:
- 4.2.1 have general oversight of the financial resources of the Corporation of The Free Methodist Church in Canada;
- 4.2.2 prepare annual budgets for Core Ministries for approval by the board of administration;
- 4.2.3 act as administrators of the Ministers’ Pension Plan;
- 4.2.4 manage the Ministers’ and Employees’ Benefit Program (Life, LTD and Medical/Dental Insurance);
- 4.2.5 develop and manage a salary plan for denominational executives and staff;
- 4.2.6 serve as the Trustees of the Corporation of The Free Methodist Church in Canada. As the national trustees, the committee shall have the authority, subject to the general directions of the board of administration to provide local church trustees with the conference consent required to mortgage, lease or sell local church property (See ¶350.1.3);
- 4.2.7 provide local churches with general guidelines regarding pastoral salary and employment policies.
No member of the committee shall benefit directly or indirectly from the funds under the care of the committee. It shall follow conservative investment practices with due regard for the preservation of capital.