Church Finances & Related Best Practices

5/14/2015

Church Finances & Related Best Practices

May 21, 2015 Tommy Greer, CPA

Blackburn, Childers & Steagall, CPAs

Questions and Answers

1

5/14/2015

One size doesn't fit all, but some principles do...

What's the Purpose of the Organization? We Are Provided Resources So We Can...... Church

? Love God, Love Others (Greatest Commandment) ? Reach Others for Christ (Fishers of Men) ? Equip God's People to Do The Above ? Make disciples who

make disciples (Ephesians 4:12) ? Provide Financially for our Teachers/Leaders

(1 Timothy 5:17-18 & 1 Corinth. 9:8-18)

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Governance

Board /

Elders

Staff

Good Stewardship

Finance Team

Body

5/14/2015

The Tension

Faith and Vision ? God's sovereignty ? He will supply our needs ? His plan will be

accomplished

Financial Planning ? Our responsibility ? Shrewd stewardship of

resources ? Plan for the future

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5/14/2015

Imperative Churches have Strong Finance Committees

Responsibility

God Finance Committee Donors

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Attributes and Responsibilities of a Finance Committee Member

? Active(meet regularly) & Knowledgeable(of non-profit/church operations) ? Committed, loyal and puts best interests of entity first ? Review and approve significant finance decisions ? Assist staff in strategic planning regarding Finances ? Leads Budget process from beginning to end ? Monitors results as a control but also for financial success ? Assists in assuring proper controls and oversight are in place ? Fill knowledge gaps as needed / resource for staff ? Helps plan for Stewardship Training

5/14/2015

Finance ? Actively Engaged

Board / Elders

Staff

Finance Team

Purpose of Org.

Body

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5/14/2015

"The taxpayer received no goods or services from the charitable

organization."

When are monies something other than unrestricted?

6

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