Finance First Year

3.�� First year

Weekly Tasks

Receive and count the offerings
Prepare a Cash Receipts Summary for each offering
Prepare the bank deposit and take it to the bank
Transfer the offering information to the Individual Donor Records and Cash Receipts Journal
Prepare a weekly financial report for the steering committee
Write checks as necessary and record them in the Cash Disbursements Journal

�Monthly Tasks

Prepare the bank reconciliation
Total columns in Cash Receipts and Cash Disbursements Journals, and prepare financial reports for the steering committee and congregation

*Inexpensive software is readily available to automate these records.

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Prepare Form 941 and send it to the IRS
Review comparison of actual versus budgeted receipts and disbursements with the Governing Board, noting especially any significant variations from the budget.

Order offering envelopes
Prepare the budget
The steering committee should appoint a committee to audit the financial records and prepare an audit report for the Annual Meeting.
Personnel Committees designates a portion of the pastor�s salary as a housing allowance.
Prepare all necessary financial reports to be included in the Annual Report to the church.
Prepare 1099-Misc and 1096 forms for payments in excess of $600 made to independent contractors.
Complete the Annual Report and send a copy to the Presbytery.

Last Modified 5/26/05 11:07 AM