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!