1. MCFNC Presentation
November 2017
Long Beach, CA

2. The Church
Treasurer’s Manual

3. Computer – for ease of navigation Printable – for a hard copy
104 pages of manual & …
Two Formats
Computer – for ease of navigation
Printable – for a hard copy

4. https://app.box.com/ s/5ecuytpbu4o1plbqz 1sb38i26s9ou6hf
How can I get one?
s/5ecuytpbu4o1plbqz 1sb38i26s9ou6hf

5. Table of Contents Chapter 1 Introduction.
Chapter 2 Functions of a Church Treasurer.
Chapter 3 Internal Controls and Record Keeping.
Chapter 4 Investments and Endowment Funds.
Chapter 5 Audit or Financial Review.
Chapter 6 Insurance and Bonding.
Chapter 7 Personnel.
Chapter 8 Stewardship and Budgeting.

6. Resources. General Resources Insurance Carriers Personnel Resources
Stewardship Resources

7. Appendices. 20 plus Apendices covering topics like:
Financial Review Checklist
Job Descriptions for Treasurers, Financial Secretary, and Finance Committee
Policies on cash disbursements, conflict of interest, endowment and gift plans, ethics, reimbursement plans, gift acceptance, investment, and records retention.
Sample leases for long and short term use of church property

8. Important Disclaimer.
While this manual is provided in the hope it will assist you generally in answering questions, this document does not attempt to render legal, accounting, or other professional advice or services to you.
If legal advice or other expert assistance is required, the services of a competent professional advisor should be sought.
Indeed, before relying on information contained in this manual or any resource, including web sites, please consult with an attorney or other appropriate professional advisor licensed in your state.

9. Corrections & Additions.
Available, no cost, through Diane, or me,
Send all issues with content or grammar to me.
If you think of something that would be helpful to include, let me know.
If you have some “nit-picky” wording, spelling, grammar issue, send me the info.
I want this doc to be useful and would like to keep it updated.

10. FASB AND GAAP
The Financial Accounting Standards Board (FASB) is a private, non-profit organization, standard setting body whose primary purpose is to establish and improve generally accepted accounting principles (GAAP) within the United States in the public's interest.

11. FASB AND GAAP
Generally accepted accounting principles (GAAP) are a common set of accounting principles, standards and procedures that companies must follow when they compile their financial statements to distribute outside of the company.

12. FASB AND GAAP
GAAP is meant to ensure a minimum level of consistency in a company's financial statements, which makes it easier for investors to analyze and extract useful information.
GAAP is only a set of standards. Although these principles work to improve the transparency in financial statements, they do not provide any guarantee that a company's financial statements are free from errors or omissions that are intended to mislead investors.

13. NEW FASB GUIDELINES
While not directly impacting the Church reporting some concepts can be helpful.

14. NEW FASB GUIDELINES Two classes instead of three.
Assets with Donor Restrictions,
(Permanently and Temporarily Restricted)
Donor imposed restrictions
Assets without Donor Restrictions,
Unrestricted
Self imposed restrictions

15. NEW FASB GUIDELINES Expiration of Donor-imposed Restrictions
The end of the stipulated time period.
The fulfillment of the purpose.
Clarify Time Periods
in your Gift Acceptance Policy.
Before you accept the gift/restriction.
Report gift, purpose, time-period & activity, annually.

16. NEW FASB GUIDELINES Presentation of Investment Returns
Can present net return after expenses
Accrual vs Cash

17. NEW FASB GUIDELINES
Ability to meet cash needs for general expenditures within one year from balance sheet date
Projecting the function of the organization without the threat of liquidation in the next 12 months

18. Reporting to the council/church
Statement of Activity (Profit and Loss)
Income and Expense
Statement of Financial Position (Balance Sheet)
Assets and Liabilities
Notes:

19. Unrelated business income
Filing a 990
NOT HOW YOU USE the money BUT HOW YOU ACQUIRE it.

20. ROI, return on investment Dividends, Interest What about Growth?
INVESTMENT INCOME
ROI, return on investment
Dividends, Interest
What about Growth?

21. Leasing church property
WHY A LEASE
READ the policy statement BEFORE you let others use your building

22. INTERNAL CONTROLS
CHECKLIST INCLUDED

23. TREASURER’S TRAINING EVERY OTHER YEAR POWER POINT PRESENTATION
COVERING ALL TOPICS

24. Questions. Edd Breeden, Treasurer, San Jose Presbytery.
Facebook, Financial Network Group
Phone, text, .

25. correct & adjust.
If at any time you find an error in spelling, grammar, content, or if you have thoughts on something that should be included in this manual, you have another way to do something and want to share it with others, etc. please with what you have found so that we can keep the Manual as current, accurate, complete and helpful as possible.