The Financial Affairs Department is responsible for receipts and disbursements, keeping of financial records, preparing budgets, monthly or quarterly financial reports, and financial statements.

Spiritual perspective:

• Money belonging to God (Mal 3:8): yours vs. ours mentality, question of in needs

• The two mites (Lk 21:1-4): do not judge

• Tithe offering (Deut 14:22-23): fear God

Important to note:

• All offerings should be counted by two counters.

• All disbursement checks should be signed by two council members, one of which from the Financial Affairs Department.

• All accounts should be audited periodically by two or more elected auditors.

See detailed guidelines in Church Council Members' Guide:

• Financial Affairs: Section 2.4.8 (Pages 40-45)

  • To note: offerings (mailed in, restricted, donor anonymity), purchase approval (council's limit, budget), disbursements (cash), bank reconciliations, financial reports/statements (budget vs. actual)

• Audit Guidelines: Pages 116-118

• Contributions Guidelines: Pages 119-122

  • To note: quid-pro-quo, non-cash property (appraiser), gifts of stocks

See guidelines regarding establishment of charity funds:

• Given the extensive IRS regulations on the subject, local churches should develop a policy to administer its charity fund based on the guidelines.

  • To note: fund transfer, assistance to members of administering body/church council, church decision document (application form), direct distribution to third party

Contribution to USGA:

• Qualified income calculation (55% cap)