Finance Meeting Thots 0027-01 ZZall

Finance Meeting Thots             0027-01          ZZall
                                              - - - Rejoice in the Lord always ... again I say Rejoice !!! - - -

                        TO: Interested Ministries                                                                     FROM: Jim Bramer, Retired CPA-Auditor
                                                                                                                                              FILE: 0027-01/all

                       RE: Finance Meeting Thots                                                               Originated; March 1988

        Committee meetings do not have a good reputation -- especially in a volunteer setting -- so make every effort to make your Finance meetings productive

BEFORE MEETING

        Schedule such meetings during a specific day of the 2nd week of a month. This allows time for month end completion; especially bank reconciliation. The leader should determine agenda - after reviewing the minutes of the previous meeting -- and distribute during the first week of the month. Be sure and leave time for thinking of the financial future; DO NOT spend all of your meeting time analyzing the past or present situation.
        Members should come informed and prepared; so "likely asked questions" can be answered. Explanations of unusual fiscal activity will be needed. During the month, each Member captures issues so Leader Member can include in agenda. Be sure and include issues around Financial Policies ( Please Go Here for info about an initial Financial Policy effort); new ones may be needed or old ones may need updating. As much as practical, be provided with the following types of historical financial information: Cash/bank balances and who belongs thereto (Fund Balances); applicable aged listing of both money owed you and money you owe; and departmental operational/activity budgets, or budget equivalent data -- plus major budget deviation explanations.
        Since it is "far" easier to articulate a proposed action before the meeting itself, members could come to the meeting with a proposed action in writing, subject to reading aloud, re-writing and ultimate finalization during the meeting.
        Concentrate on declared Most Important Financial Issues - MIFIs. Please Click here and read about this topic.

DURING MEETING

            It is essential that each committee member:

Thoroughly understand the issues to be resolved;

Has reliable financial information, or facts ;

Understands the financial data presented to them;

Fully express their views;

Understand their issue assignments

    Please resolve unclear financial policy applications. Sometimes staffers are unclear just how to handle a situation within existing financial polices and issues can unproductively be left "dangling," every agenda item is clearly either:

Acted upon -- the issue has been resolved and assigned to someone for consummation

Abandoned --- one reason; it is a non-issue

Deferred -- an issue resolution is delayed -- not abandoned -- for reasons that include not having enough information for good decision-making

            Issue resolution actions are captured in writing and repeated aloud during the meeting for clarity and finalization. Part of complete issue resolution might require final authorization by the Ministry's governing body. The meeting needs to have structure and the Member Leader moves it right along !!!!!
         An ideal Finance or Ministry Finance Team time meeting is as follows:

A: VISION = Anticipate future needs; look ahead;

10%

    visualize something big for the Lord; new idea sharing

B: PLANNING/GOAL EVALUATION = Recognize/

25%

    define needs; establish goals; know when goals

    are reached.

C: ORGANIZATIONAL MAINTENANCE = Routine

40%

    matters; minor problem-solving and decision-making;

   reports from staff; information-gathering and sharing

D: POLICY MAKING = Determining policy needs;

10%

    developing criteria and setting forth policies;

    insuring that policies are current/viable.

E: SOCIAL = necessary for board members to

10%

    understand and minister to one another in

    a controlled setting.

F: FIRE FIGHTING = Crisis decision-making;

5%

    urgent problem-solving; resolve stressful

    issues often with limited facts or resources.

0

Total

100%

AFTER MEETING

        The committee member who recorded the actions taken finishes the job right away while the meeting content is fresh in mind. Often this member is called the "Secretary," but the essence is to, not only record issue resolutions, but to clearly indicate member assignment. Then distribute to all ASAP.

       This bulk of this publication originated in March 1988 and UPTD: May 23, 2010

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*A: VISION* = Anticipate future needs; look ahead;**		10%
visualize something big for the Lord; new idea sharing
*B: PLANNING/GOAL EVALUATION* = Recognize/**		25%
define needs; establish goals; know when goals
are reached.
*C: ORGANIZATIONAL MAINTENANCE* = Routine**		40%
matters; minor problem-solving and decision-making;
reports from staff; information-gathering and sharing
*D: POLICY MAKING* = Determining policy needs;**		10%
developing criteria and setting forth policies;
insuring that policies are current/viable.
*E: SOCIAL* = necessary for board members to**		10%
understand and minister to one another in
a controlled setting.
*F: FIRE FIGHTING* = Crisis decision-making;**		5%
urgent problem-solving; resolve stressful
issues often with limited facts or resources.		0
	Total	100%