TPIONEER BIBLE TRANSLATORS 

ASSOCIATION 

OF 

PAPUA NEW GUINEA 

INCORPORATED 

MEMBER FINANCE MANUAL 

VERSION 3.0 

JULY 2003 

This page intentionally left blank 

Table of Contents 

1.    General Financial Policy    1 

1.1.    Sources of Funds    1 

1.2.    Responsibility for Expenses    1 

1.3.    Travel Expenses    1 

1.4.    Personal Expenses    1 

1.5.    Team Ministry Funds    1 

1.6.    Support Services    1 

2.    Ownership of Property    1 

2.1.    Incoming Funds    1 

2.2.    Definition of PBT Property    1 

2.3.    Ownership of Gifts    1 

2.3.1.    Tangible Items    1 

2.3.2.    Cash Gifts    1 

2.4.    Registration and Marking    1 

2.5.    Control of Personal Property    1 

2.6.    Stewardship of PBT Property    1 

3.    Support Quotas and Team Ministry Funds    2 

3.1.    General Information    2 

3.1.1.    Support Quotas    2 

3.1.2.    Stateside Expenses    2 

3.1.3.    PNG Income Taxes and the Quota    2 

3.1.4.    Team Ministry Funds    2 

3.2.    Support Quotas    3 

3.3.    School Fees    3 

3.4.    One-time Expenses    3 

3.5.    Sample Budget    3 

4.    Member Indebtedness    3 

4.1.    Accidental Overdrafts    3 

4.2.    PBT/PNG Bank Loan Alternative    3 

4.3.    Emergency Financial Needs    4 

5.    Monthly Recapitulation    4 

6.    Introduction to the Automated Accounting System    5 

6.1.    Account Numbers and Reports    5 

6.2.    Maintaining the Audit Trail    5 

6.2.1.    Receipts    5 

6.2.2.    Checks    5 

6.2.3.    Internal Transfers    5 

7.    Discounts    5 

8.    Group Vehicles    5 

9.    Housing Charges    6 

10.    Copy Machine Charges    6 

11.    Budget and Expense Reporting    6 

12.    Obtaining Approval to Expend  Branch Budgeted Funds    6 

This page intentionally left blank 

1. 

General Financial Policy 

1.1. 

Sources of Funds 

PBT is a mission organization engaged in linguistic research, literacy projects, and Bible translation.  Each  PBT/PNG member acts as an agent for PBT International to raise financial support to cover all the costs of the appointed ministry.  Minimum support quotas and salary caps are determined by the PBT International Board of Directors upon the advice given to them by the branches. 

1.2. 

Responsibility for Expenses 

The member's responsibility to meet the costs of his own program's ministry extends beyond the supply of temporal needs such as food and clothing, to include travel, housing, and the necessary equipment and supplies. For example, a PBT translation or literacy team will normally have to build a house in the village in which they have chosen to work; a support team will normally have to purchase a vehicle for personal and ministry use. 

1.3. 

Travel Expenses 

The PBT member will pay costs of travel except when he is traveling on behalf of the group in an official capacity and with the authorization to spend group funds for travel. 

1.4. 

Personal Expenses 

PBT members are responsible for medical, dental, and other personal expenses, including educational costs for their children. 

1.5. 

Team Ministry Funds 

Team Ministry Funds are given to PBT to support the International Service Center and the individual branches. The purpose of Team Ministry is to support the efforts of the overall ministry. This is a percentage of each month's income raised by each team in the branch.  This percentage may change at the discretion of the branch membership. Contact the PBT/PNG Administrator of Finance for the most recent percentage. 

The portion of Team Ministry that goes to the branch is used to purchase equipment and provide services that are more economical when combined than if each member has the same equipment or duplicates the same services. 

1.6. 

Support Services 

In some cases, these expenses are reduced for the member by PBT/PNG initiating specific services staffed by other qualified members called support workers. These support workers serve on the same basis as the translators and literacy workers. 

2. 

Ownership of Property 

2.1. 

Incoming Funds 

God places incoming funds in the stewardship of the individual members. In this way God provides for each member’s needs and, to a reasonable extent, his desires. It is implicit in our tax structure that all funds collected by members which have been declared non-taxable by the member receiving the funds or the contributor by reason of being a charitable contribution are the properties of PBT. 

2.2. 

Definition of PBT Property 

There are two categories of ownership. The first category is personal possessions. Personal possessions are defined as those possessions which a member has acquired from his salary funds.  The second category is PBT/PNG property. All equipment  purchased with work funds is the property of PBT/PNG. A member has stewardship over both categories. A member may sell PBT/PNG property over which he has stewardship and use the money as additional work funds.  Expensive items that are listed as fixed assets of the branch must be approved for sale by the Administrator of Finance. 

2.3. 

Ownership of Gifts 

2.3.1. 

Tangible Items 

If a tangible item is given to a member as a gift, and if the donor claimed a tax deduction for giving it to PBT work, then the gift is PBT property. If the giver claimed no tax deduction, then the member may claim the item as personal property and be liable for PNG taxes on the value of the gift. Items given by churches to members will be designated as either to the member for the member, or to the member for PBT work, the former being a personal possession, taxable in both the USA and PNG, the latter being a PBT possession. Should items not be designated as such, the member will have the right to decide the ownership and will notify the Director of his decision. 

2.3.2. 

Cash Gifts 

In the case of direct cash gifts (for instance, a check with the member's name as the payee) the gift is personal income.  The member is liable for PNG tax.  The amount must be deposited into the branch checking account and listed as income on the member's monthly recap so that PNG tax may be computed. 

2.4. 

Registration and Marking 

Members should clearly record or mark all personal possessions at the time of their receipt. PBT property must also be recorded and marked. Items costing US$2,500.00 (as of the date of this manual) or more and purchased with work funds must be recorded in the PBT books as assets.  Members should keep a record of their personal property. If a member desires, he can send a copy of this personal property list to the Director’s Office to be inserted in the member’s personnel file for safe keeping.  This could be very useful to the member should theft occur or if a member were unable to return and others had to dispose of or ship his property. 

2.5. 

Control of Personal Property 

Pioneer Bible Translators exercises no control over any member’s personal property. 

2.6. 

Stewardship of PBT Property 

Pioneer Bible Translators authorizes each member to exercise stewardship over PBT property entrusted to him within the following guidelines: 

a.    PBT property may be converted to personal property if the member wishes to purchase it from PBT only by consent of the Director at either the current market value or the “book” value, according to the Director’s decision. The member will be liable for PNG and USA taxes resulting from this conversion. 

b.    A member may not maliciously destroy anything under his stewardship. If the member leaves PBT/PNG or is dismissed for any reason, all PBT property leaves his stewardship (but still may be purchased by him in accordance with paragraph (a) above). 

c.    If a member leaves PBT to join another organization of like goals, and plans to work in the same location, title to PBT property may be transferred to the other organization, but this must be done in accordance with the terms of the PBT/PNG Constitution and with approval of the PBT/USA Board. 

d.    A member may convert PBT property that is under his stewardship, other than permanent property (houses, land, etc.) and facilities, from one form to another (e.g., a boat may be sold to buy a car) so long as the item remains PBT property under his stewardship, or may be sold for other work purposes (for instance, to sell a car to obtain non-personal travel funds). Items held as assets on the PBT books must be first cleared for conversion by the Branch Director. 

e.   The sale or transfer of permanent branch property or facilities to someone outside PBT always requires an approval of the PBT/USA Board and a special resolution of PBT (see the Constitution) before the transaction can take place. 

3. 

Support Quotas and Team Ministry Funds 

3.1. 

General Information 

The following section will help in preparing a budget to insure you have enough support raised to fund your salary and work funds in PNG and any USA expenses you may have. 

3.1.1. 

Support Quotas 

In order to insure that a member coming to PNG has adequate funds available for his personal and ministry needs, the branch has established quotas which must be met before a member is allowed to begin travel arrangements and which must be maintained for the length of his term on the field. The primary reasons for the quotas are to (1) insure that the member is able to live in the PNG economy without undue discomfort or needless sacrifice, (2) insure that the member is able to provide adequate funds to allow his ministry to progress, and (3) to allow the Branch to have an insured amount of income to fund the services and facilities it provides. 

The quotas are determined by the size of a family. A basic amount has been established as a minimum for the above requirements for a married couple or a single member. Varying amounts are specified for children according to their ages and educational requirements. The amounts have been fixed by PBT’s experience in PNG. There are no provisions for modification of the amounts for individual cases. 

Members desiring to come to PNG will be required to demonstrate that their income meets or exceeds the quota established for their family. 

Other additional funds may be required to be on hand before travel is allowed. These will vary according to the individual ministry. For instance, a translator may be required to have a certain percentage of house building funds available. A support worker may be required to have funds available for a personal vehicle. Additionally, a member coming to PNG will be required to have an amount equivalent to one month’s quota on hand in the branch checking account before he arrives. 

All of the qualifications regarding support quotas and travel apply also to members returning to the field after furlough and to short term assistants 

3.1.2. 

Stateside Expenses 

 It is very important to understand that the quota includes only field expenses. Any expenses which occur in the U.S. must be included separately in the overall amount of support funds which must be raised. For instance, if the monthly quota for a team is $2000 and if the team has a student loan payment of $100 per month in the U.S., then that $100 per month must be raised in addition to the $2000 per month.  Either the International Service Center or PBT/PNG can give you an Excel Worksheet to use when making your budget. 

3.1.3. 

PNG Income Taxes and the Quota 

All funds used in PNG for personal purposes are subject to PNG personal income tax. The amount of PNG taxes becomes very significant if a member has children in an international school or a boarding school, because school fees are fully taxable and can dramatically increase your tax base.  Before coming to the field, you must ask the PBT/PNG Director specifically about your personal tax situation if you plan to have one or more children in school other than home schooling. He may inform you that you need to raise an additional amount for PNG income taxes. 

3.1.4. 

Team Ministry Funds 

PBT/PNG assesses (as of the date of this manual) 12% of the income of each member for the common use in achieving group goals, that is, to be used to defray administrative costs, to make purchases of items used by all, and be otherwise spent in group approved areas. All funds received by a member which are tax deductible in the U.S., whether they are for personal or work purposes, are subject to this Team Ministry assessment, with certain exceptions discussed below. 

Four percent of the assessment will stay with PBT International Service Center in Dallas. The purpose is to help stabilize the income of the home office and to help defray the expenses which are generated by PBT/USA’s support of the PNG branch.  Eight percent of the assessment will come in the monthly telex to PNG to help meet the group needs of the branch as described above. 

A member should be sensitive to PBT/PNG’s need for a stable and predictable income. If a member’s own income is significantly below the quota, it also affects the income of PBT/PNG. Members must strive to maintain their income level at least at the quota figure, not only for their own effectiveness and security, but also for the good of the group. 

IMPORTANT NOTE: The 12% Team Ministry Fund is NOT included as an expense in the computation of the minimum support quota. When raising support it is crucial to remember that you must actually raise 113.636% of the total of your minimum support quota plus any stateside expenses in order to be able to have the required amount available for personal and ministry needs. If the support quota is $2000/month in your case and your U.S. expenses are $100/month, then you must actually raise $2386/month to cover the quota, stateside expenses, and Team Ministry Fund. 

3.2. 

Support Quotas 

Support quotas have remained surprisingly accurate and stable throughout PBT’s history in PNG, even though the exchange rate has fluctuated considerably through the years as has inflation.  People’s spending habits vary considerably, as do their needs and wants.  Even with these variables the quotas cited here will cover your normal, routine expenses.  Major purchases may require either an adjustment in your quota or funds transferred in addition to your quota. 

Married couple        $ 1300.00
Single member        $ 1000.00
Child, preschool        $ 250.00
Child, under 12        $ 350.00
Children, junior high        $ 450.00
Child, high school        $ 500.00 

Thus the PNG support quota for a married couple with 2 children in grade school is $2000.00/month, not including the children’s educational expenses. 

IMPORTANT NOTE:  The amounts above are valid at the date of printing of this manual.  You must contact the Administrator of Finance for the most recent amounts. 

3.3. 

School Fees 

If your child is to attend Madang International School or Ukarumpa High School you must contact the Administrator of Finance to get the most recent information on costs.  If your children’s educational expenses will be paid in the U.S. (such as purchasing correspondence materials), you must still raise the funds to cover this expense, but you do not have to pay PNG income taxes on this amount. Teams with children at Ukarumpa High School have found it better to pay the school fees in U.S. dollars directly to the school to keep from having two exchange rates.  For more information about this, contact the Administrator of Finance. 

3.4. 

One-time Expenses 

In addition to the monthly quota, funds for these one time expenses must also be raised: shipping, the cost of transporting cargo to the West Coast, travel to PNG, any major household purchases, and, if necessary, a vehicle and house building.  Costs of house building and the purchase of a vehicle will vary according to the individual needs of teams.  For more help in budgeting for these one time purchases contact the Administrator of Finance for help.  You will need to raise the 12% team ministry for these one time expenses also. 

3.5. 

Sample Budget 

When you start the budget process you should contact the Administrator of Finance at the PBT/PNG office for the most recent information and help in completing the budget worksheet. 

4. 

Member Indebtedness 

There are three different ways that a member can become indebted. 

a.    Temporary “accidental” overdraft of his account. 

b.   An emergency situation which causes an intentional overdraft (in consultation with the administration). 

c.    Investment in capital items which requires a loan. 

The following policies have been formulated to protect both the member and the branch from situations which place the member in debt to the branch. 

4.1. 

Accidental Overdrafts 

PBT/PNG treats a member’s account as if it were a checking account. The member has the ability to cash checks, charge items at various businesses, and make internal transfers of his funds. If a member spends more in a month than he has available in his account, he becomes indebted to PBT/PNG for the amount which is overdrawn. It is PBT/PNG’s policy not to allow these overdrafts. If an overdraft situation does arise, it is handled by the following policy. 

a.    Any indebtedness due to accidental overdraft is not to exceed three months.  No interest shall be charged during this period. 

b.    Any member who is in an overdraft condition for three consecutive months at a level of K500+ (either a K500+ overdraft in the third month or a K500+ average overdraft for the three months) shall take out a loan and shall undergo financial counseling with a financial counselor as appointed by the Director.  Any member whose account is in overdraft for six consecutive months at a level of K100+ shall also undergo financial counseling.   

c.   A monthly interest of 1% above Interest Bearing Deposit’s (IBD) rate will be charged by PBT on the overdraft amount after the third month and deducted from the member’s account if there is delay in arranging a loan. 

d.    If a member’s indebtedness becomes too great and it becomes evident that a member’s income is not adequate to eliminate the indebtedness or prevent the indebtedness from growing, the Director may recommend an early furlough to allow the member to raise the support he needs. 

e.    If a member must leave before his indebtedness is eliminated, he must work out satisfactory terms of payment with the Director before leaving PNG. A member shall not be allowed to return to the field until his indebtedness is repaid and his support quota is reached. 

f.    As a last resort, the Director has the power to sell member-held PBT assets in order to retire a member’s indebtedness. 

g.    The Director shall review a member’s support before his furlough and recommend, if necessary, a new quota level sufficient for the member’s needs. This review will consider inflation, currency devaluation, and increased program costs for the following term. 

4.2. 

PBT/PNG Bank Loan Alternative 

IMPORTANT NOTE: Any bank loan taken in PNG must be approved by the Director. It does not matter whether the bank asks for collateral or an endorsement from the employer. The reason for this is that the bank could hold the branch liable in case the member is unable to repay the loan. Any loan taken by a member is an 'off balance sheet' liability to the branch and must be approved by the Director. 

In cases in which a member seeks a bank loan, the Director, in consultation with the Administrator of Finance, may choose to offer the member the alternative of borrowing the funds from PBT using the following procedure. 

Members will benefit from obtaining their loan from PBT in several ways. PBT will not charge establishment fees or insurance on the loan. PBT will not charge the monthly fee charged by the bank to automatically transfer the loan payment from the PBT checking account. The interest from the loan will fund the branches expenses in the same way that team ministry does. 

Members wishing to apply for a loan from PBT must follow these established procedures: 

a.    It must first be determined whether there are sufficient funds available for loan to the member. This is to be determined using the same reasoning that would be applied to determine if further funds should be invested in IBD’s  The first sources of funds should be current asset (cash) resources, member funds or designated funds which are not needed for the duration of the loan. The second source of funds should be renewable IBD’s or other investments which are earning equal or lower interest rates than the Annual Percentage Rate of the intended loan. No set formula can be given for determining this since so many factors enter into the equation. Basically, it is a matter of looking at the overall distribution of PBT funds to see if there is a sufficient amount of money available which is not already earning a greater amount of interest and is not needed for a specific use during the amortization period of the loan. (The interest earning factor is ignored in the determination of whether there are sufficient funds to make the loan when the loan has been determined by the Director to be in aid of a genuine emergency; see Emergency Financial Needs below.) 

b.    If sufficient funds are available, the  loan will be made at the current IBD rate plus 1%. 

If the loan is only needed for three months or less, and if sufficient funds are available, the loan may be issued in the form of a note which is payable within ninety days.  Interest (IBD rate plus 1%) will be charged monthly on the unpaid balance. 

c.    The member must prepare a letter of request and submit it to the Director. The letter must contain the following information: 

1.  The principal amount of the loan. 

2.  The Annual Percentage Rate as computed by the Administrator of Finance from the IBD rate plus 1%. 

3.  The term of the loan (number of months). 

4.  The monthly payment. 

5.  The statement, “I will repay the loan regardless of changing circumstances.” 

6.  The statement, “I authorize an automatic deduction from my account to make the monthly payment.” 

7.  The statement, “I understand that PBT may request in writing that I repay the remaining principal within 30 days from receiving notice. I agree to comply with such a request.” 

8.  The statement, “I agree not to sell or otherwise dispose of     [description of material goods purchased] while the loan is outstanding.”  (Applicable if the loan is used to purchase material goods.) 

9.  The statement, “I agree to pay for `full coverage’ insurance for the [description of material goods purchased] while the loan is outstanding.”  (Applicable if the loan is used to buy material goods.) 

d.   The Director will notify the member by letter of his decision within five working days of receipt of the member’s letter. If the decision is no because of some detail of procedure which is incorrect, the member may resubmit his request. If it is no because, in the Director’s judgment, there are no funds available, the member has recourse through PBT’s established procedures for dealing with such situations. If the answer is yes, the member should bring the letter of approval to the Administrator of Finance to be processed. 

e.    In the event that the loan is called in by PBT, if the member has insufficient funds available to pay off the principal amount, PBT will assist the member to obtain a bank loan sufficient to cover the amount. 

f.   If the member desires, he may at any time retire the loan by paying the remaining principal. Due to the difficulties involved in recomputation of the amortization schedule, we cannot allow direct payments towards the principal during the amortization period. 

g.    A loan shall not be issued to extend beyond the member’s anticipated furlough or permanent departure date. If the member leaves PNG for any reason except for holidays or an emergency, PBT will require that the principal amount be repaid before departure. 

4.3. 

Emergency Financial Needs 

If an emergency arises which requires the member to spend more than he has available in his account, he may apply for an emergency loan from PBT/PNG under the PBT/PNG Bank Loan Alternative procedure. Interest rates on loans issued in aid of a genuine emergency (as determined by the Director) will be the lowest interest rate paid on Interest Bearing Deposits by the Bank of South Pacific on the date of the loan application letter. The following are situations which may qualify a member for an emergency loan: 

a.   emergency medical expenses 

b.   emergency furlough expenses 

c.   other uses as approved by the Director. 

5. 

Monthly Recapitulation 

Each month every member  will complete a recap of the previous month spending and submit it to the Administrator of Finance. The purpose of this is to allow the Administrator of Finance to prepare the member’s PNG tax return for the month. 

The Administrator of Finance will usually close the books for the month by the fifth working day of the following month. The financial records needed to complete a recap of previous month spending will be sent to each team by the next available transportation after that date. It is very important that the recap of previous month spending be completed soon after receipt of the material. When the recap  is completed, the “Salary” figure should be reported over the radio at the next regular sked. For town teams, the recap itself should be brought to the Finance Office. Each bush team should send their completed recap  to the Finance Office by the next available transportation, even though the figure has been sent by radio. The recap  is a part of our permanent tax records. 

The government normally requires all tax payments to be paid by the seventh of the following month. We have a special exemption to allow us to pay by the 28th of the following month. That means that we must have these recap figures from each team by no later than the 20th of each month in order to comply with the law. If the figures are late, we will not pay the taxes for that month. In the following month, two months’ taxes will be paid. It is all too easy to put the recap material aside for later when you receive a bag of mail. Please be cooperative in doing your best to get your recap figures in quickly so that the branch can comply with the law.  

Your monthly member statement will be sent to you on a  computer disk.  Quicken is the computer program supported by PBT/PNG for recap purposes.  Please contact the Administrator of Finance for the most recent version number and how best to purchase it.  The Administrator of Finance will help you with the startup procedures and setting up the list of categories. 

6. 

Introduction to the Automated Accounting System 

The following section contains information which members need to conduct their financial affairs in PNG. It is not intended to be an exhaustive presentation of all of the financial procedures which are necessary to insure that PBT/PNG financial affairs are conducted in an acceptable and orderly manner. This manual deals primarily with information which directly affects members in their day to day operations and associations with other members, the organization and “outsiders.” Detailed information about organizational policies and the inner working of the finance system are contained in the Branch Accounting System manual.  You are welcome to read that manual if you like. 

6.1. 

Account Numbers and Reports 

On being accepted by the PNG branch, a member (or family unit) is assigned an account number which is used for all internal references by the accounting software. All financial activity is recorded by the computerized system, and reports for individuals and the organization are prepared and distributed monthly. All members receive organizational reports and their own individual report. Only the Director and the Administrator of Finance see or have access to individuals’ reports. (Understanding, of course, that office workers involved in bookkeeping do, of necessity, have access to the information.) 

The individual reports are in a standard trial balance format which show the beginning balance, income and expenses, and the ending balance. If something is incorrect on a member’s statement, it is his responsibility to inform the Administrator of Finance in writing of the error, giving his suggestion as to what should be done to correct it. If an internal transfer is required to fix the error, the member must submit that also. (See “Internal Transfer” below.) 

6.2. 

Maintaining the Audit Trail 

Money gets moved around in different ways and we must be able to accurately record its movements. The following are three ways in which we do this. 

6.2.1. 

Receipts 

Any time that you make a purchase by charging it to a PBT account, you must get an accurate receipt for the transaction. All charge receipts must be signed and account names with appropriate designations of amounts must be on it before it is turned in to the Finance Office. 

All cash receipts for purchases you make for other members or for PBT/PNG must be turned in. You may turn in cash receipts for your own purchases if you wish  and these will be put with the charge receipts you receive with your monthly statement. Or you may choose to hold onto your cash receipts.  You must remember, however, that you will need them to properly complete your monthly recap, so don't lose them.  If you cannot substantiate your cash outlays for workfunds, the amount will have to be taken as salary, and you will end up paying more tax. 

6.2.2. 

Checks 

If you need a check, you are responsible to see that a Check Request Form is properly filled out. This keeps us from “losing” checks. No check will be signed without the proper form. Please put your initials on the check stub of the check you have taken.  If for some reason the check request form is lost, the Finance Office will know who to ask about a missing check. Under no circumstances will checks be taken from the Finance Office without the execution of a Check Request Form nor may the check book be removed from the Finance Office.  If you do not know the amount and to whom you are writing a check take a second check request form with you and when it is filled out bring it back and replace the one in the check book with the filled in one.   

6.2.3. 

Internal Transfers 

Whenever funds must be transferred from one account to another within the system, an Internal Transfer Form must be completed, describing the transaction. This form authorizes the Finance Office to transfer the funds. Each team will be given a supply of these forms. When in town, an Internal Transfer Form should be submitted directly to the Finance Office. When in the bush, a radio request may be made, but the form should still be sent by the next regular transportation in order for our records to be complete. The request must be signed by the person from whose account the money is being transferred (or the radio operator in the case of a radio request). 

7. 

Discounts 

If you are purchasing something for the group or another member, it is your responsibility to insure that the proper discount has been given. If purchasing something for yourself, it is up to you whether to ask for the discount or not. 

Ask the Finance Office for a current list of merchants that give us discounts. 

8. 

Group Vehicles 

The branch owns vehicles which are used by the administration in the discharge of their duties and also by members for their own purposes. Members using the vehicles for their own purposes (as opposed to performing some task for PBT) will be charged a specific amount per kilometer to help recover PBT’s cost of operating these vehicles.  Members are required to accurately log their usage (regardless whether is is personal or PBT)  in the log books located in each vehicle. 

Keys must be promptly returned when the member is finished with the vehicle so that others may use it.   

See Vehicle Policy in the Miscellaneous Information Manual for additional information. 

9. 

Housing Charges 

PBT owns housing for resident and transient use.  For general information see the Housing Policy in the Miscellaneous Information Manual. 

Please contact the Administrator of Finance for the current rates for rent in all PBT owned housing.  Rent is charged in US Dollars and converted at the current monthly telex exchange rate.  

PBT owns a triplex at SIL Ukarampa.  The Finance Office will give you the current rate in US Dollars. 

10. 

Copy Machine Charges 

Photocopies which you make (or which someone else makes on your behalf) on one of the PBT copy machines will be charged to your account each month by the Finance Office.  

All copies are aromatically recorded by the software in the copy machines.  You can get the current rates per copy from the Finance Office. 

11. 

Budget and Expense Reporting 

Members are required to submit  their budget to the Branch Director by 31 October of each year.   The budget worksheet that the International Service Center has designed for this purpose is available from either the Administrator of Finance or the Branch Director. This provides a means of oversight and accountability in insuring that minimum financial needs are planned for and met and that PBT exercises oversight and direction over the handling of all funds.  It also insures that budgeting and planning are being done.  A budget versus actual report must be submitted every six months.  The worksheets for this report are available from either the Administrator of Finance or the Branch Director. 

12. 

Obtaining Approval to Expend  Branch Budgeted Funds 

Complete information regarding the procedures for spending funds that are included in the annual budget of PBT/PNG are found in the Branch Accounting System Manual.  

        END OF DOCUMENT