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Church Financial Best Practices

Because churches are in a position of trust with parishioneers' money, it is important that churches have clear standards on how money is collected, counted, deposited, and maintained.

The following videos and articles will provide some basic information on best practices for maintaining church finances:

  • Vetting those who deal with church monies (both paid staff and volunteers) [VIDEO] [WORD]
  • Preventing Fraud and Theft - Utilizing two people any time money is counted  [VIDEO] [WORD]
  • Preventing Fraud and Theft - Requiring two signatures on all checks over a certain amount  [VIDEO] [WORD]
  • Preventing Fraud and Theft - Immediately stamping all checks "For Deposit Only" and Depositing Cash Immediately  [VIDEO] [WORD]
  • Preventing Fraud and Theft - Rotating workers who count collection plate cash  [VIDEO] [WORD]
  • Preventing Fraud and Theft - Having a third party reconcile the accounts  [VIDEO] [WORD]
  • Preventing Fraud and Theft - Documenting all purchases with purchase orders (and keeping checks, receipts, statements) [VIDEO] [WORD]
  • Preventing Fraud and Theft - Having someone other than the individual preparing disbursements reconcile check registers to the bank statements regularly [VIDEO] [WORD]
  • Annual Audits - Do we really need an audit? [VIDEO] [WORD]

 

Also, the following links provide other resources on the web:

"The Annual Church Audit" by Dan Busby, CPA

Audit Program for Internal Auditors of Churches (from the Missionary Society of Connecticut)

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