Checks and balances (aka internal controls) are procedures that safeguard your church from deliberate or accidental mishandling of money. They reassure the church leadership team and donors that church finances are being handled with integrity and that reporting is accurate. Strong internal controls also protect the finance team from accusations of mismanagement. An annual audit or financial…
Read more
A disagreement between two individuals at the church turns violent, a stranger strolls into the church office shouting obscenities, and a man carrying a semi-automatic weapon enters the sanctuary during a Sunday morning service. It is common for churches to believe the events mentioned above will never happen at their location. Many churches in the RMD…
Read more
Over the next 25 years, the largest wealth transfer in human history will take place as an estimated $68 trillion will be passed on as the Baby Boomer generation ages. Bequest giving is on the rise and this will be an unprecedented opportunity for planned giving. What is Planned Giving? Planned giving is the term used to…
Read more
As we move through the holiday season and approach year-end, it is common for churches and congregants to recognize pastors and staff with a love offering or some other type of gift. The gift could be a small amount of cash in a Christmas card or an organized collection taken during the worship service. It is important…
Read more
I imagine church fraud is not a high priority discussion item at most of our church board meetings. The thinking is, “This will never happen at our church.” Given the daily duties and demands of church leaders it is not easy to focus on factors that can protect or diminish integrity and reduce the risk…
Read more
For churches with fiscal year January-December, October is the time to put together your budget for the following year. Budgeting is important as it defines how much money is available to support planned ministries. Budgets act like a map for church leaders and set expectations for spending. A worship leader or head of Sunday school should know…
Read more
A few months ago, I wrote an article about the importance of cybersecurity for churches. By way of review, my article included the following common threats you should understand and a few best practices to reduce the risk of an attack. Common Threats You Should Understand Malware: Malware is malicious software installed without a user’s knowledge, typically…
Read more
Now more than ever churches should consider investing in planned giving. Over the next 25 years an estimated $68 trillion will be passed on as the Baby Boomer generation ages. This will be the largest wealth transfer in human history and an unprecedented opportunity for generous giving. Another interesting fact is this is that people have been more…
Read more
Risk management is a topic that should be addressed at a minimum annually by your church. Risk is defined as an uncertain event that may have positive or negative consequences. A risk management plan identifies risks and action steps for dealing with those risks. There are basically four actions for handling risk: Avoid the risk completely. Transfer…
Read more
If you are a newly elected church treasurer or already performing the role for your church, I encourage you to check out the resources available for treasurers on the RMD website. Access rmdcma.com and log into the member’s page. Scroll to the Administration section and note the column called treasurer’s resources. Here you will find several very helpful sources of…
Read more
