Missionary Funds Due Date

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
klkamper
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Joined: Mon Sep 14, 2009 12:21 pm
Location: McMinnville, OR, US

Missionary Funds Due Date

Postby klkamper » Mon Mar 15, 2010 8:11 am

We have a missionary leaving from our unit. The Bishop asked me if there is a specified date by which the monthly funds are due from the family and other sponsors.

Does anyone know of an established date, or should the Bishop just set a date each month with the needs of the family in mind.

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aebrown
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Joined: Tue Nov 27, 2007 8:48 pm
Location: Sandy, Utah

Postby aebrown » Mon Mar 15, 2010 8:30 am

kekamper wrote:We have a missionary leaving from our unit. The Bishop asked me if there is a specified date by which the monthly funds are due from the family and other sponsors.

Does anyone know of an established date, or should the Bishop just set a date each month with the needs of the family in mind.


It is certainly up to the bishop. Some factors you might want to consider:

  1. Payments are deducted on a set date each month. This is typically the first Thursday of each month, although it may vary. But since it is early in the month, you should basically plan on it being the first of the month.
  2. The first payment is deducted on the regular date in the month the missionary enters the MTC. So even if the mission starts on June 30, for example, the first payment might still be deducted on June 3 (if that is the first Thursday of the month).
  3. If the ward's missionary fund balance exceeds one month's missionary payments, then the precise date that deposits are made within the month is not all that critical; but if funds are tight, it would be important to have the month's funds safely deposited by the first of the month.
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