Operations 103 Finances: Class 1. Level 1: Certificate in Operations . Operations 101—Staffing Operations 102—Communications Operations 103—Finances Operations 104—Finances Operations 105—Facilities . Operations 103—Finances. Cash & Fungible Assets Income Expenses Budgets Reporting.
This topic sounds simple until you begin to define it. Churches need great cash flow management. They often handle a significant amount of cash on Sundays and during the week. There must be adequate procedures in counting the offering, as well as security of offerings and offering boxes. Churches must handle cash advances and cash for youth trips.
There are often cash surpluses and cash reserves. If stock is given, the church must decide to sell or hold it. This class will define cash and fungible assets, giving policy and practices on cash management. Along the way, we will examine the cash practices of a large church.
Chris is the Chief Operations Officer at the Lutheran Church of Hope in West Des Moines, Iowa. The church has 9,500 in worship and Chris has come out of the business community to his present position. Through this leadership role in the church, he provides guidance to the following ministries: worship, production, fellowship, administration, finance, hospitality, facilities, communications and Café Hope.
Chief Operating Officer
Lutheran Church of Hope
West Des Moines, Iowa
The American Institute of Certified Public Accountants defines it as all the coordinate methods and measures adopted within an organization to safeguard its assets…
Internal controls are a set of policies and procedures to prevent deliberate or misguided use of funds for unauthorized purposes.
A pastor of a Lakeland church is accused of stealing more than $5,000 from the church, according to an investigation by the State Attorney's Office in Bartow.
Priest stole $1.3 million in church money
The former St. Matthew Parish secretary who embezzled more than $200,000 from the church has been sentenced to prison
Aug. 24, 2012 - PHILADELPHIA — A former executive of the Philadelphia archdiocese is due in court Friday to be sentenced for stealing more than $900,000 from the church.
CLEVELAND, Ohio -- A longtime priest at St. Helena Church on Cleveland's West Side has pleaded guilty to stealing $176,000 from the Romanian Catholic institution, a prosecutor said.
The former bookkeeper of a South Jersey parish has been charged with stealing more than $245,000 from his employer.
SHELBY TOWNSHIP, Mich. (WJBK) - St. Therese of Lisieux Catholic Church in Shelby Township was robbed of tens of thousands of dollars after Easter Sunday services. They drilled through the safe and got away with almost $50,000.
Safe, money stolen from church in Dixfield, Maine
JOHNSON CITY, Tenn. - According to police, the person or persons got into the church by kicking in an air vent in the back of the building and then went on a destructive spree, looking for valuables along the way.
Johnson City Police say all locked doors inside were kicked in and the rooms ransacked. A safe was ripped off the floor and the offering box was torn off the wall.
Authorities are searching for the person took a safe from a Concord church.
GULFPORT, MS (WLOX) - Burglars broke into a Gulfport church and went away with a safe and hundreds of dollars in cash.
May 13, 2013 – Stillwater Okla. - Dana Sue Eckhart 43 years of age, has been arrested and charged with embezzling more than $141,000 from the UMC Stillwater, since 2009. According to authorities, UMC Stillwater informed police that Eckhart had written unauthorized checks to herself, her husband and others from 2009 through 2012. The church also questions hundreds of purchases by Eckhart utilizing church-issued credit card. Dana Eckhart pleaded not guilty and is free on $50,000 bond and due in court for preliminary hearing sometime in June 2013.
A Granger woman pleaded guilty Tuesday to using the postal service to help embezzle $119,000 from a South Bend church she worked at for eight years.
Loprest worked as a secretary at Hilltop Lutheran Church from 2001-2009.
When the church’s bank contacted leaders about an overdraft fee in 2009, they found out they were nearly bankrupt.
For several years, Loprest had been transferring money out of the bank’s investment account. She would have the checks delivered to the church, then deposit them into their spend account and use the money for personal expenses.
VIOLET, La. —A church secretary in St. Bernard Parish was arrested for what authorities said was systematic embezzlement of more than $100,000 from her church.
JANESVILLE — The former secretary of a Janesville church wrote nearly $90,000 in forged checks to herself over 10 months last year… An accountant uncovered 70 checks forged for herself from First Congregational United Church of Christ between January and October of 2012.
Since cash flow describes how and when money comes into the church and is spent, cash-flow management involves projecting income and expenses with the goal of paying bills on time and creating a surplus for growth.
Liquidity simply means available funds. The goal of liquidity management is to have enough funds available for current expenses and new ministry opportunities. Managing liquidity is tougher than it seems because income doesn’t always come in when expenses need to be paid. And we always have unexpected expenses.
Cash Flow Fluctuation + Unplanned Events + Potential Opportunities =
Operating Liquidity Balance Target
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Malphurs, Aubrey & Steve Stroope. Money Matters in Church: A Practical Guide for Leaders. Grand Rapids: Baker Books, 2007. Read Chapters 1 & 2: “Developing and Communicating Your Theology of Financial Stewardship” & “Developing Donors.”
From Chapter 1: “The New Testament Greek word for steward is oikonomos… “manager.” Read the passages that deal with this word (page 23)
From Chapter 2: Where does your church teach about money? Sermons, adult classes, small groups, fund-raising drives? Some or all of these? (page 31)