FBCF Stewardship Procedure

 

First Baptist Church of Friendsville

CHURCH STEWARDSHIP POLICY

  7/8/2013 1:53 PM

    I. BIBLICAL BASIS

The financial responsibility of the church is to be wise stewards of the financial resources God has entrusted to this body of believers and to ensure that these resources are managed with the highest possible level of trust and integrity.

I Corinthians 4:2 // “Moreover it is required in stewards that one be found faithful.”


II. FINANCAIL STEWARSHIP

Financial stewardship is defined as responsibility to manage all financial resources for the glory of God, acknowledging God as provider.

 

      III. TEAMS AND POSITIONS

The following teams and positions have been approved by the Church to oversee its financial matters.  

These individuals shall:

  • Understand their church-approved purpose and responsibilities
  • Diligently and faithfully strive to fulfill their assigned tasks
  • Always handle financial resources with utmost trust and integrity

NOTE: Detailed job descriptions for these teams and positions are maintained by the Nominating Team

(1)Budget and Finance Team

The Budget and Finance team shall develop and present an annual budget; shall coordinate the Church’s financial activities; shall monitor accounts and expenditures; and shall ensure adherence to approved financial policies and procedures.

(2)Church Treasurer and Assistant Treasurer(s)

The Church treasurer and Assistant Treasurer(s) shall ensure that funds are properly received, disbursed, accounted and safeguarded in accordance with approved and established policies and procedures of the Church.

(3)Financial SecretaryThe financial secretary posts contributions, mails statements, prepares checks for signing, prepares monthly reports and maintains the church financial records.

NOTE: Even though the financial secretary assists the Church Treasurer by completing these assigned responsibilities, the church treasurer still has legal and fiduciary responsibility for these functions.

(4)Ushers

Ushers shall properly receive funds from the congregation during church approved services and secure those funds in approved storage devices.

(5)Tellers Team

Tellers shall accurately count receipts, prepare all funds to be deposited in the Church’s checking account and document the purpose of these funds (e.g. tithes, designated funds, etc.).

(6)Audit Team

NOTE: This team has not yet been created and/or approved by the Church.

The audit team shall review and examine the financial records annually—and more often if deemed necessary.

The audit team shall examine and evaluate the effectiveness of teams and positions to handle financial matters, shall insure that approved financial guidelines are followed and shall provide assurance to the Church that proper stewardship is used in receiving, disbursing, reporting, and safeguarding the church’s financial assets. 

 

    IV. DOCUMENTATIONRECIPTS AND DISBURSEMENTS

The following is a basic description of the financial practices that have been approved by the Church to receive and document funds from Church members and others and to disburse and document expenditures of those funds.

(1) Receiving financial gifts

All funds received during the week shall be accepted by the ushers during

Church-approved services—normally during the “passing of the offering plates.”  The ushers place those funds in bank bags that are provided by the treasurer.  Once all funds are received, the treasurer locks the bank bag and gives it to a designated teller.  The treasurer maintains possession of the key that locks the bank bag and returns it to the approved storage unit.  The designated teller and treasurer “transports” the bank bag to the safe for safekeeping until the funds are retrieved by the tellers.

NOTE: Once the safe is locked, the safe combination and safe key are required to open the safe door.  The treasures do not know the safe combination and the tellers do not have access to the safe key.  Therefore, the safe can only be opened jointly by an individual who knows the safe combination (normally an usher or teller) and by an individual who has access to the safe key (normally the treasure or Church Secretary)—no individual, by himself/herself, can open the safe to retrieve funds

(2)Counting, documenting and depositing financial receipts

Following the Sunday worship services (normally Sunday nights or Monday mornings), tellers will retrieve the funds from the safe.  As noted above, the safe is unlocked by the safe combination (normally provide by a teller) and by the safe key (normally provided by the Church Secretary or treasurer). 

These funds are counted and the purposes of the receipts are documented by the tellers. A minimum of two tellers must be present to count the funds; yet three is the normal number on the team that performs these functions.

Once the funds are counted and deposit slips are prepared, the funds are placed in a locked bank bag—and the bank bag key is returned to the Church Secretary or treasurer.  The locked bank bags are taken to Foothills Bank & Trust to be deposited to the church’s checking account.

(3)Disbursements of funds

Funds are disbursed by approval of church actions—either the approved church budget or other approved acts during business meetings.  The Church Treasurer reviews all invoices or other requests for payments.  Once he/she approves those payments, they are submitted to the Financial Secretary for payments to appropriate payees.

(4)Documenting receipts and disbursements of funds

The Financial Secretary enters all financial transactions in QuickBooks—the financial software currently used by the Church.  Some of the reports that are created by this software are check registers, general ledgers (document disbursements and receipts) and bank reconciliation statements.

These reports are used to prepare the Monthly Financial Statement.

NOTE: Foothills Bank & Trust provides a bank statement that is used to reconcile the checking account.  This reconciliation is performed by the Assistant Treasurer—with his/her signed approval and date of the reconciliation documented on the form.  The Church Treasurer is responsible for an overall review of the reconciliation to ensure accuracy and that transactions are properly documented.


V. MONTHLY FINANCAIL STATEMENT

During quarterly business meetings, the Church Treasurer presents the Monthly Financial Statement to the Church for its review and approval.

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