Church Finance Committee Basic Processes Annual Checklist

Finance Committee Chair                                                                               Date                           

Committee Members                                                                                                                        

Treasurer                                                         Financial Secretary                                                    

Offerings and Income

What is the process for collecting/counting/depositing/recording loose plate offerings? Who are the responsible parties?

What is the process for receiving/counting/depositing/recording mailed offerings?  Who are the responsible parties?

What is the process for counting/recording online offerings?  Who are the responsible parties?

What is the accountability system in place (like a counting sheet) that ensures accuracy of receipts and deposits? 

Expenses and Disbursements

What is the process for getting an expense reimbursed?  Who has expense approval authority?

Who has check writing approval?

Who has check signing approval?

Who is responsible for bank statement reconciliation? (different than check signer)

Church Financial Information

What bank or banks do we use? What accounts do we have?  What are they used for?

What financial tracking system do we use?  Does it still meet our needs?

How are financial reports produced?  By/for whom?  How often?

Where is the church financial information stored, including computer records, receipts, reports, checkbook, etc?  What provisions are in place to ensure safety of this information?

How do we plan to complete our annual audit or financial review?

Who is responsible for filling out Conference Reports Table 2 and 3?   

Who is responsible for producing all necessary tax forms including W-2s and 1099s?