Church Finances    and You
Numbers are our   Friend!
Website    www.elca.orgWho We Are/office of the treasurer/finance for              congregations
Key Roles of a Congregation Treasurer1. Financial Accounting2. Payroll3. Budgets4. Internal Controls5. Financial Policies6...
Financial Accounting• Accrual Basis vs Cash Basis vs Other• Accounting Systems  – Ease of use  – Ties into contributions a...
Payroll• Pastor / W-2’s  – Housing Allowance/Authorization  – Self employed• Payroll Reporting   –IRS/941/1096   –Portico ...
Budgets• Faith Budget vs Realistic• Line Item vs Programmatic• Balanced???
Internal Controls• What?• Why? Mitigate risk of liability• How? See Guidelines – Internal Control Best  Practices  – Purpo...
Financial Policies• Non-Tax Status  – Income  – Real estate  – UBIT (Unrelated Business Income Tax)  – IRS Rules – Stateme...
Financial Policies• Fund Raising  – Impact  – How often?  – Who?
Education• Stewardship  – Definition: the careful and responsible    management of something entrusted to ones care  – Tre...
Questions?
Are we ready for the new  communication age?
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Church Finances and You

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This presentation was shared by John Petersburg, treasurer of the Southeastern Minnesota Synod, at the 2012 Southeastern Minnesota Councils as Leaders in the Church event.

More information at semnsynod.org/cal

Published in: Business, Economy & Finance
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Church Finances and You

  1. 1. Church Finances and You
  2. 2. Numbers are our Friend!
  3. 3. Website www.elca.orgWho We Are/office of the treasurer/finance for congregations
  4. 4. Key Roles of a Congregation Treasurer1. Financial Accounting2. Payroll3. Budgets4. Internal Controls5. Financial Policies6. Education andDevelopment
  5. 5. Financial Accounting• Accrual Basis vs Cash Basis vs Other• Accounting Systems – Ease of use – Ties into contributions and membership – Note: If starting a new system, the chart of accounts is the most important stage• Reports – Balance Sheet – Income and Expense (Cash flow/budget information) – Dedicated/Restricted/Savings Accounts
  6. 6. Payroll• Pastor / W-2’s – Housing Allowance/Authorization – Self employed• Payroll Reporting –IRS/941/1096 –Portico (Board of Pensions)
  7. 7. Budgets• Faith Budget vs Realistic• Line Item vs Programmatic• Balanced???
  8. 8. Internal Controls• What?• Why? Mitigate risk of liability• How? See Guidelines – Internal Control Best Practices – Purpose of internal controls – Do an internal controls audit (Treasurer’s Commandment: Thou Shalt NOT Do It All) – Audits: Internal vs External
  9. 9. Financial Policies• Non-Tax Status – Income – Real estate – UBIT (Unrelated Business Income Tax) – IRS Rules – Statements/Valuation – Use of facility by For-Profit Groups – Sales Tax
  10. 10. Financial Policies• Fund Raising – Impact – How often? – Who?
  11. 11. Education• Stewardship – Definition: the careful and responsible management of something entrusted to ones care – Treasurer’s Role – How do we stir hearts? – “People change agents”
  12. 12. Questions?
  13. 13. Are we ready for the new communication age?
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