The Steward's Prophet
Finance for Faith Communities
a project of Congregational Finance LLC -- Rev. Karen McArthur, editor
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© 2007-2012
Rev. Karen McArthur
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The Steward's Prophet
PO Box 80035
South Dartmouth, MA 02748
There once was a church ...
The only financial report they had was a list of how much they had paid to various vendors and members of the congregation during the previous year.
| Electric Company | $1,273.48 |
| Food pantry | 50.00 |
| Grocery store | 87.30 |
| IRS | 1,275.60 |
| Rev. Lydia Pastor | 19,750.00 |
| Petty Cash | 273.89 |
| Postmaster | 468.00 |
| David Sexton | 4,322.20 |
| Mary Smith | 46.23 |
| Our denomination | 2,000.00 |
| TOTAL | $29,546.70 |
That was the extent of the report. No income was listed, there was no indication of what types of expenses were reimbursed, and they certainly didn’t want anyone to know how much money they had in the bank!
To offer a complete picture of a congregation’s financial situation, as well as to protect those who are entrusted with the funds, church leaders need to have information about all income and expenses, as well as a listing of all of the organization’s financial assets and liabilities.
Furthermore, leaders need to share the information regularly, so that the congregation can make prayerful and informed financial decisions.
PAST EXAMPLES
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There once was a church ... |
| ...whose only financial report was a list of how much they had paid to various vendors. |