Restricted Funds


(TN)

Over the past 2 years, we have held several benefit/silent auction signings to raise money for a "Van Fund" at our church.


These monies were donated & raised for this specific purpose and placed in a Van Fund in the church finance report.

Now, some are wanting to use these funds for other purposes. My opinion is that these are "Restricted Funds" and cannot be used for anything other than what people donated or gave specifically for (which was church van). Is this correct?

Thanks for any input.

Comments for Restricted Funds

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Apr 09, 2018
 Restricted Funds
by: Anonymous - MN

I would agree with your assessment that these funds would be restricted. If you have an immediate need for funds, you might consider 'borrowing' from those designated funds as long as you also make commitments to make payments and return those funds to be used for their intended purpose.

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