Requesting Monies held by TMCP
As well as TMCP holding the title to all Methodist property as Custodian Trustee, Methodist polity also requires that they hold trust and capital money on behalf of managing trustees. Typically this includes most bequests, capital that has arisen from the sale of property and Circuit Model Trust Funds and District Advance Funds. TMCP also hold funds on behalf of the Connexional Priority Fund and the Fund for Property and are responsible for making payments from these funds.
TMCP are therefore involved in a huge number of payments to contractors, suppliers and professionals on behalf of managing trustees.
Whenever the funding package of a Project Record includes confirmed funds which are held by TMCP, their Finance staff will check that each fund holds the amount of money confirmed, and that it may be used for the stated purpose. If there is a problem, TMCP will inform the managing trustees.
This in no way guarantees that the value of the fund will remain at that level in the future. Managing trustees might decide to use some of it for other purposes or the value might fall in line with the stock market. It is the responsibility of managing trustees to keep their own records and ensure that sufficient money is available when it is finally required.