Church Finance Administration
Church Finance &
Administration
East & North District Training February 21, 2016
Central Texas Annual Conference Of The United Methodist Church
Agenda
? Authority & Secrecy ? Internal Controls ? Budgets & Reporting ? Tax Exempt Status ? Employment Taxes ? Tax Reporting ? Audits ? Checks & Balances ? Pastoral Compensation
? Accountable Reimbursement Accounts (ARP)
? Job Descriptions ? Financial Secretary ? Treasurer ? Chair/Finance Committee
? Record Retention ? Resources ? GCFA Apportioned Fund
Descriptions
? Pastors Discretionary Accounts
? CMG...aka Apportionments
Central Texas Annual Conference Of The United Methodist Church
Ways We Might Be Helpful in Finance & Administration
? Clergy and lay benefits ? Insurance and retirement ? Creating a church budget ? Church finance internal controls ? Stewardship Ideas ? Financial Policies
Central Texas Annual Conference Of The United Methodist Church
3
Authority & Secrecy
? Per BoD (? 244.3), Pastor is "CEO" of church
? "The pastor shall be the administrative officer and, as such, shall be an ex-officio member of all conference, boards, councils, commissions, committees, and task forces, unless otherwise restricted by the Discipline."
? Pastor is "member" of all committees except Trustees and SPRC ? As such, Pastor has full access to all information for committees and sub-committees
including Stewardship
? BoD (? 722) requires meetings to be open as often as possible
(except SPRC)
? Financial statements & accounts of all church entities available to Church Council via annual audit
? Details of financial giving should be shared only with those that have "a need to know"
? Pastor ? Financial Secretary ? Sometimes members of the Finance Committee (to facilitate a capital campaign for example)
Central Texas Annual Conference Of The United Methodist Church
4
Internal Controls
5
Internal Control
Protection of Your Church's Money
Internal controls provide the following benefits:
? Accountability ? Protects church's assets ? Promotes accuracy of financial records ? Promotes confidence in givers ? Helps prevent fraud
Central Texas Annual Conference Of The United Methodist Church
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Internal Control
Protection of Your Church's Money
? Three basic types of financial activities
o Authorization of transactions o Recording of transactions o Custody of assets
? Each of these activities should be performed by different unrelated individuals
Central Texas Annual Conference Of The United Methodist Church
7
Internal Control
Best Practices
? Prepare accounting procedures manual
? Anyone who handles church funds bonded or insured
? Bank statements reconciled monthly
? Detailed monthly reports reviewed by finance committee
? Financial reports audited annually
Central Texas Annual Conference Of The United Methodist Church
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