Top 10 Ways to Help the Finance Office (part 2 of 3)

A colleague asked me how staff and lay members can help the church’s Finance Office. Here is my top ten list; yours may be different – let me know what I left out.

4. Paying speakers more than $600 in a year requires paperwork

  • If a person is paid $600 or more, the church must get his/her social security number and address so we can send him/her a 1099.
  • Because one person may be used by different departments in a year, anyone who is paid $300 or more in one check must complete a W-9 (which captures a person’s Social Security Number).
  • This is an IRS requirement. Don’t blame the Finance Office for this.

5. Account properly for any money you receive

  • NEVER keep money at your desk/office overnight. Please place it with the Finance Office for safekeeping and get it back the next day.
  • Use the deposit envelopes and fill them out completely.
  • Really, really, really look for ways to accept payments online (for registering for an event or payment for an activity or donations). Online payments are safer and you have a record of who paid what.

6. Fundraising is okay but there are steps

  • All fundraising must be pre-approved by the Finance Committee. NO exceptions.
  • This is to ensure coordination of fundraising, eliminate any timing conflicts, and avoid fundraising for activities not in keeping with our faith principles

7. Budget is a strategic exercise – and that is a good thing

  • ALWAYS be thinking about your budget for the next year in the current year. Ask questions such as what lines have too much or too little money; what lines can be consolidated or even eliminated.
  • Plan next year’s budget NOW (that means anytime during the year). Work with your lay leaders now asking them about their dreams and how they can be implemented.

Lead On!