Grade Report re Church Fiscal Matters, Sample of  5128-77   ZZChu

                                                                           - - - Rejoice in the Lord always ... again I say Rejoice !!! - - -

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                              TO:  Interested Churches                                                                               FROM: Jim Bramer, Retired CPA-Auditor
                                                                                                                                                             FILE: 5128-77/chu 

                               RE:  Grade Report re Church Fiscal Matters,  Sample of                       Originated:  April 2001


           We suggest that during your annual session with the Auditor that each one in attendance independently fill out the following grade report -- be sure everyone understands the terms used.  Any poor grades via the Auditor need to be clear to all at this meeting.

- - - - S U B J E C T- - - -

Strong

OK

Weak

Fiscal Overview:

A>

Apparent fiscal stability

______

______

______

B>

Debt management

______

______

______

Board/Governing Matters

C>

Board is properly fulfilling its

responsibilities re finances

______

______

______

D>

Current/articulated and understood

Finance Policies

______

______

_______

E>

A functioning Board non-staff

Treasurer

______

______

______

F>

A properly functioning Board

Finance Committee (FinCom)

______

______

______

G>

Church does financial planning and

projections.

______

______

______

H>

Overall protection of Church's

tangible assets-Insurance Issues.

______

______

______

Reporting and Management

I>

Adequacy of financial reporting

including actual to budget

reporting system.

______

______

______

J>

Overall management of accounting

system.

______

______

______

K>

Adequacy of restricted funds

accounting and reporting

______

______

______

L>

Adequacy re use of computer

for finances.

_______

_______

______

M>

Attention to cash flow management

_______

_______

_______

Tranx Processing Systems:

N>

Sunday Counting and Receipts-to Bank

______

______

______

O>

Donation Acctg System

_______

_______

_______

P>

Non Sunday Receipts

_______

_______

_______

Q>

Purchases/Payables and

Disbursements-signatures

______

______

______

R>

Payroll

______

______

______

S>

Journal Entries

______

______

______

T>

Bank Reconciliation

______

______

______

U>

Accts Receivable-if applicable

______

______

______

V>

Fixed Assets Accountability

______

______

______

W>

Restricted Funds

______

______

______

Y>

Overall distribution of work functions

to insure adequate financial

controls.

______

______

______

Z>

Other Issues

_________________________

______

______

______

IS THERE A TAX ISSUE?

T O P I C:

NO

IFFY

YES

1

Personalized Giving Concerns.

______

______

______

2

Unrelated Business Income

______

______

______

3

Personal Use of Ministry

Vehicles

______

______

______

4

Expense Reimbursements

______

______

______

5

Employee vs Sub-contractor

______

______

______

6

Staff Insurance and other fringe

benefits

______

______

______

Social Security matters below:

7

---- Ministry itself

______

______

______

8

---- Clergy

______

______

______

9

Scholarship Issues

______

______

______

10

State Unemployment

______

______

______

Overall Exempt Status Issues:

11

Federal (IRS)

______

______

______

12

State

______

______

______

Other Taxing Authorities

13

County Exemption

______

______

______

14

Other Tax Issues

_________________________

______

______

______

  Click here for samples of other Ministry Grade Reports


     The bulk of this Publication originated in April 2001 and was . Updated: March 09, 2012

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