Application form for BUILDING PROJECTS that need approvals by SDAA/BUC/TED

  • Application form for BUILDING PROJECTS that need approvals by SDAA/BUC/TED

  • This form should be completed by authorised personnel (typically from the property, treasury, or secretariat departments) of the entity (typically Conference or Mission) that will be the beneficial owner of the proposed property transaction.

    Before you begin, please ensure you have the following information ready:

    • Project details - e.g. address, financial plan, due diligence documents, etc.
    • Financial information of the beneficial owner - i.e. Conference or Mission.
    • Committee approvals already obtained – i.e. excerpts of minutes from church boards, church business meetings, conference committees, governing boards, etc.

  • Your details

    Details of the person completing this form

  • Project Details

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  • Note: Please upload the project proposal document only.

    You will have an opportunity to upload the financial plan, valuations, surveys and other due diligence reports later in the form.

  • Project Finances Parameters

  • Select all transaction types that apply to the financial plan for this project.

  • Project Finances Detail

  • EXPENDITURE

  • INCOME

  • WARNING: Ensure local church funds in bank have been verified by seeing bank statements before proceeding.

  • WARNING: Ensure the Conference/Mission Treasurer has confirmed the availability of funds in the Conference/Mission Accounts before proceeding.

  •  - -

  • APPROPRIATIONS (INTERNAL) AND GRANTS (EXTERNAL)

  • BORROWING

  • MONTHLY INCOME TO SERVICE LOANS

  • Click 'Next' to show a summary of the project finances, if anything is incorrect in the summary, you will be able to return to this page to make corrections.

  • Project Finances Summary

  • {entityWith52}

    {projectName}

     

    PROJECT FINANCES    
         
    Expenditure:    
      Purchase Cost {purchaseCost}   
      Building/Development Cost {builddevtCost}   
      Professional Fees {professionalFees}   
      Renovation, Repairs, Refit, Refurbishment {renovationCosts}   
      Other Expenditure {otherExps}   
        TOTAL EXPENDITURE:    {totalExpenditure}
         
    Available Funds:    
      Local Church Funds in Bank {localChurch321}   
      Local Church Funds in Conference/Mission Account {localChurch322}   
      Proceeds from Sale of Property/Land {proceedsFrom}   
      Other Income {otherAvailable324}   
        TOTAL INCOME: {totalIncome289}  
         
    Appropriations/Grants:    
      Appropriation from Conference/Mission {appnsFrom}   
      Other Denominational Appropriations (Internal) {otherAppns}   
      Other Grants (External) {otherGrants329}   
        TOTAL APPROPRIATIONS AND GRANTS: {totalAppropriations}   
         
    Borrowing:    
      Loan from Conference/Mission {confmissLoan346}   
      Loan from BUC {bucLoan347}   
      Bank Loan via SDAA Ltd {sdaaLoan348}   
      Other Loans {otherLoans349}   
        TOTAL BORROWING: {totalProject99}   
         
        TOTAL FUNDING:    {totalFunding351}
        TOTAL FUNDING SURPLUS/(DEFICIT):    {totalSurplusdeficit353}
        TOTAL LOANS TO COST RATIO:    {totalLoan}

  • {entityWith52}

    {projectName}

     

    BORROWING IMPACT    
         
    Estimated Monthly Repayments:    
      Loan from Conference/Mission {conferencemissionLoan332}  
      Loan from BUC {bucLoan334}  
      Bank Loan via SDAA Ltd {bankLoan336}  
      Other Loans {otherLoans338}  
        TOTAL MONTHLY REPAYMENTS:    {totalMonthly356}
         
    Income to Service Borrowing:    
      Gift Aid monthly returns {giftAid}  
      Local Church Budget monthly surpluses {lcbSurplus}  
      New Revenue from Hiring Facilities  {hiringFacilities}  
      Member Pledges ({memberPledges}, NIL for summary) {projectCurrency}0  
      Other Income to Service Borrowing {otherIncome}  
        TOTAL INCOME TO SERVICE BORROWING:    {totalMonthly345}
         
        TOTAL MONTHLY SURPLUS/(DEFICIT):    {totalRepayments358}

  • If the Project Finance Summary is not correct, please click 'Back' and correct the relevant details before proceeding.

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  • Note: Please upload the project financial plan only.

    You will have an opportunity to upload valuations, surveys and other due diligence reports later in the form.

  • Project Due Diligence

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  • If you were unable to upload all the required files, please continue completing the form. After submitting, contact SDAA directly to send the remaining files using an alternative method.

  • Beneficial Owner Financial Health

  • Committee Approvals already obtained

  • POLICY INFORMATION

  • Before proceeding, please ensure you have read the full policy wording in the BUC Policy Book, Section 2, I - Building Acquisition, Major Renovations and Loan Policy.

    For the full policy wording, please visit the BUC website and navigate to the BUC Secretariat Home Page, or click on the following link:

    BUC Secretariat

       

    Excerpt of BUC Policy Book, Section 2, I    (revised 29 Feb 2024)

    Approval and Limits on Borrowing

    It is the responsibility of the beneficial owner to understand the approvals necessary and to submit applications to each approving body, allowing sufficient time for committees to meet, and supplying sufficient documentation for committees to carry out their due diligence.

  • Next Sections

    Based on the details you’ve provided so far, draft proposals have been prepared in the next three sections, if applicable, for the relevant decision-making bodies of:

    • Seventh-day Adventist Association Ltd (SDAA)
    • British Union Conference (BUC)
    • Trans-European Division (TED)

    Each section presents its respective proposal and ends with space for you to add any additional information relevant to that decision-making body. After reviewing and completing all three sections, you’ll be ready to submit the form.

  • Seventh-day Adventist Association Ltd (SDAA)

  • Excerpt from BUC Policy Book, Section 2, I    (revised 29 Feb 2024)

    Ownership and Title

    All properties are registered in the name of the SDAA (for UK properties) and SDACI (for properties in the Republic of Ireland), the titular owner, that holds all properties in trust for the beneficial owner, usually the Conference/Mission in whose territory the local church, office, institution building resides. Congregations, Conferences & Missions and the Institutions have the responsibility of maintaining buildings in their use and insuring them with the support of the beneficial owner.

  • Draft Proposal to SDAA Board

    (subject to review)

  • Whereas:

    • all property transactions on behalf of {entityWith52} as the beneficial owner are registered in the name of SDAA Ltd as the title holder.
    • a bank loan via SDAA Ltd of {sdaaLoan146} for a loan duration of {sdaaLoan147} has been requested as part of the financial plan.

  • PROPOSED:

    • that the {typeOf53} of {projectName}, located at {projectAddress}, be approved for {mainProject168}, with total project costs of {totalProject}, on behalf of the {entityWith52} as the beneficial owner, {isThe12}{mainUser}.
    • that the bank loan via SDAA Ltd of {sdaaLoan146}, for a term of {sdaaLoan147}, to the {entityWith52} via SDAA Ltd for {projectName}, be approved.

  • British Union Conference (BUC)

  • Excerpt from BUC Policy Book, Section 2, I    (revised 29 Feb 2024)

     

    Approval and Limits on Borrowing

    BUC approval shall be required when any of the following criteria are encountered:

    (i) The total estimated completed project costs exceeds 15 times LWF.

    (ii) Borrowing on a project is greater than 25% of the total projected budget.

    (iii) The total loan profile of the Conference/Mission exceeds 20% of the Conference/Mission’s unallocated funds.

    (iv) The denominationally calculated working capital of the Conference/Mission is less than six months.

    (v) The Conference/Mission total loan liability exceeds twice the non-tithe annual income.

  • Draft proposal to BUC Executive Committee

    (subject to review)

  • PROPOSED: BUC Executive Committee approval not required.

     

    REMINDER:

    Excerpt from BUC Policy Book, Section 2, I    (revised 29 Feb 2024)

    It is the responsibility of the beneficial owner to understand the approvals necessary and to submit applications to each approving body, allowing sufficient time for committees to meet, and supplying sufficient documentation for committees to carry out their due diligence.

  • Whereas:

    • the total estimated completed project costs exceeds 15 times Local Wage Factor (LWF).
      • total estimated completed project costs = {totalProject}
      • monthly Local Wage Factor (LWF) = {lwftxt}
      • 15x LWF = {15xLwf}
    • borrowing on a project is greater than 25% of the total projected budget.
      • total project borrowing = {totalProject99}
      • total estimated project cost = {totalProject}
      • loan to cost ratio = {totalLoan}
    • the total loan profile of the Conference/Mission exceeds 20% of the Conference/Mission’s unallocated funds.
      • total loan profile of {entityWith52} = {totalLoan100}
      • unallocated funds of {entityWith52} = {totalUnallocated}
      • 20% of unallocated funds = {20Unallocated79}
    • the denominationally calculated working capital of the Conference/Mission is less than 6.0 months.
      • Working Capital of {entityWith52} = {workingCapital} months
    • the Conference/Mission total loan liability exceeds twice the non-tithe annual income.
      • total loan liability of {entityWith52} = {totalLoan100}
      • non-tithe annual income of {entityWith52} = {totalNontithe}
      • 2x non-tithe annual income = {2xNontithe}
    • a BUC loan of {sdaaLoan146} for a loan duration of {bucLoan143} has been requested as part of the financial plan.

  • PROPOSED:

    • that the {typeOf53} of {projectName}, located at {projectAddress}, be approved for {mainProject168}, with total project costs of {totalProject}, on behalf of the {entityWith52} as the beneficial owner, {isThe12}{mainUser}.
    • that the BUC loan of {bucLoan141}, for a term of {bucLoan143}, to the {entityWith52} for {projectName}, be approved.

  • Trans-European Division (TED)

  • Excerpt from BUC Policy Book, Section 2, I    (revised 29 Feb 2024)

     

    Approval and Limits on Borrowing

    Reference shall be made to TED Policy S15.

    This requires that TED executive committee approval be obtained prior to the beginning of construction where:

    (i) Total project borrowing exceeds 15 times the Local Wage Factor (LWF = BUC Annual Basic
    Salary Factor), or

    (ii) The total estimated completed project cost exceeds 30 times LWF.

  • Draft proposal to TED Administrative Committee

    (subject to review)

  • PROPOSED: TED Administrative Committee approval not required.

     

    REMINDER:

    Excerpt from BUC Policy Book, Section 2, I    (revised 29 Feb 2024)

    It is the responsibility of the beneficial owner to understand the approvals necessary and to submit applications to each approving body, allowing sufficient time for committees to meet, and supplying sufficient documentation for committees to carry out their due diligence.

  • Whereas:

    • total project borrowing exceeds 15 times the Local Wage Factor (LWF).
      • total project borrowing = {totalProject99}
      • monthly Local Wage Factor (LWF) = {lwftxt}
      • 15x LWF = {15xLwf}
    • the total estimated completed project cost exceeds 30 times the Local Wage Factor (LWF).
      • total project borrowing = {totalProject}
      • monthly Local Wage Factor (LWF) = {lwftxt}
      • 30x LWF = {30xLwf}

  • PROPOSED:

    • that the {typeOf53} of {projectName}, located at {propertyAddress}, be approved for {mainProject168}, with total project costs of {totalProject}, on behalf of the {entityWith52} as the beneficial owner, {isThe12}{mainUser}.

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