FCC Admin Tasks - Recording Annual Perm Fund Draw

Recording Annual Perm Fund Draw(July)

On an annual basis and as part of the budget development process, Trustees recommend and Cabinet approves an annual draw amount from the Permanent Fund. The allocation of funds withdrawn is promulgated by the Permanent Fund policy. This procedure should be performed soon after the start of the fiscal year.

Trustees will provide:

dollar amount of the draw
allocation of the draw based on policy to operations, debt reduction, community program fund and South Central Conference

Step By Step Procedure

1. Initiate the Withdrawal from UCF Permanent Fund

Download and fill in the UCF Transaction Form with values provided by the Trustees.
Have a registered officer of the church sign the transfer form.
Scan and email the signed form to info@ucfunds.org (Figure 1 depicts the email sent in July 2026). The Trustees and Cabinet should be BCC'd on this email.
Follow up with UCF if you do not receive email confirmation of the transfer.
Monitor the checking account for the ACH transfer of funds before continuing.

2. Record the Withdrawal

Login to United Church Funds Website.
Browse to the “ACTIVITY” page (see Figure 2)
Select a date range to include the date of the withdrawal.
Print and save the resulting information to PDF.
In QuickBooks, locate and edit a prior Permanent Fund draw journal entry in the checking account# 10305 register (Figure 3 depicts the entry from 7/13/26).
Click on "More" and make a copy of the journal entry.
Alter the memo, descriptions and amounts in the journal entry to match the UCF activity in the PDF.
Click on "Save and close".

3. Record the Allocation of Funds

In QuickBooks, locate and edit a prior Permanent Fund allocation journal entry in the register for account# 26505 (Figure 4 depicts the entry from 7/13/26).
Click on "More" and make a copy of the journal entry.
Alter the memo, descriptions and amounts in the journal entry to match the UCF activity in the PDF.
Click on "Save and close".

4. Initiate and Record Principal Only Loan Payment

Login to Cornerstone Fund and browse to "Payments & Transfers".
Fill in the form as follows:
- Select "Make loan payment".
- Select "Principal Only".
- Pick the loan account
- Specify the amount
- Specify "One time only" as the frequency
- Specify the date of the transaction
Submit the request and print the confirmation to PDF (UCF will usually call to confirm large loan payments).
In QuickBooks, locate and edit a prior Permanent Fund principal payment journal entry in the register for account# 26511 (Figure 5 depicts the entry from 7/13/26).
Click on "More" and make a copy of the journal entry.
Alter the memo, descriptions and amounts in the journal entry to match the Trustees instructions.
Click on "Save and close".

5. Journal the Operational Income Allocation

In QuickBooks, locate and edit a prior Permanent Fund allocation journal entry in the register for account# 26513 (Figure 6 depicts the entry from 7/13/26).
Click on "More" and make a copy of the journal entry.
Alter the memo, descriptions and amounts in the journal entry to match the Trustees instructions.
Click on "Save and close".

6. Create a check to South Central Conference

In QuickBooks, locate and edit a prior check written to the South Central Conference in the register for account# 26512 (Figure 7 depicts the check from 7/14/26).
Click on "More" and make a copy of the check.
Alter the memo, descriptions and amounts in the check to match the Trustees instructions.
Click on "Save and close".

Figure 1: Sample Email Requesting Annual Draw

Figure 2: UCF Activity Page

Figure 3: Journal Entry to Record the Withdrawal

Figure 4: Journal Entry to Record Fund Allocation

Figure 5: Journal Entry Recording the Principal Only Loan Payment

Figure 6: Journal Entry Recording Operational Income

Figure 7: Check to South Central Conference