Both, a statement and a question! Knowing what the organization owes as well as having confidence you have a complete and accurate picture really takes little to no effort. Start with a review of the debt amortization schedule. This schedule should require all note obligations and commitments including mortgage, loans, and leases. Review the schedule […]
In Indianapolis today, the courts upheld a man’s 54-year sentence for pocketing millions intended for the construction of churches. This man defrauded nearly 3,000 people. Who do you trust with your money? Is your Church doing all it can to protect its contributions and accounting personnel?
Your financial statements are a key to making decisions for your Church. Let me rephrase that…ACCURATE financial statements are a key to making GOOD decisions for your Church! I can’t stress enough just how true this statement is. Whether your Church is deciding to build a new campus, expand or remodel the existing campus, or […]
In any business, having a high level of confidence in the amounts that are owed to various vendors is crucial. This fact is no different within our churches. The key to having this confidence is making sure adequate recordkeeping is maintained. Best practice guides stress that you should always have a consistent method for entering […]
Who’s looking after your Church’s financial personnel? Are the necessary checks in place to, if not prevent fraud, catch it quickly? $51,000 may not be much to lose if you’re at a mega-church, but to a smaller Chuch in Indiana, it was. The full article can be found here. Source: WISH TV 8 News
Who would ever think that an elderly Church Secretary would steal from her Church? A simple routine review of the bank statement and reconciliation by an independent party may have prevented this church in east Tennessee from losing $1.5 million. You may read more here.