Summer 2003 Rapport: Annual Report 2002-2003
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From the Business Office...
|Rev. David Willemsen
Director of Business
Since its inception, AGTS accounting, payroll and human resource services have been
processed by the General Council of the Assemblies of God (GCAG). However, in February
2002, the AGTS Board of Directors authorized the seminary to establish these services
Jeff Huinda was hired in May of 2002 as the coordinator of accounting. Jeff holds
an accounting degree from Central Philippine University and has extensive experience
in not-for-profit accounting. He previously served as the corporate accounting manager
at the GCAG and came with very high qualifications.
Accounting services were moved on-site and became fully operational in June 2002,
six weeks ahead of schedule. This was a very significant event in the history of the
seminary and a major step toward financial strength and stability.
After extensive research, the Business Office purchased and implemented a full accounting
software package which included payroll and human resource modules. The new system went
online May 1, 2003.
A human resources committee was established to oversee the transition of payroll and
human resource services from GCAG to AGTS. This committee is setting up in-house personnel
procedures, researching federal and state employment law to help maintain legal compliance,
and formulating human resource policy to be reviewed and approved by the AGTS Board
of Administration. The committee hopes to have all payroll and human resource services
moved in-house and fully operational no later than December 31, 2003. The Business Office
is already coordinating most employee benefit services.
Funding for the seminarys operational budget comes from various sources as demonstrated
The cost to educate each student at AGTS during the 2003-04 fiscal year is $12,439.
Based on the sources of revenue above, funding per student is broken down as follows:
The AGTS Board of Administration allocates funds and presents a budget to the Board
of Directors for approval. Expenses for the current fiscal year are allocated as follows:
The seminary is grateful to the GCAG and its many friends for their faithful financial
Thursday, August 12, 2004 2:00 PM