2037-07 Building Fund Accounting and Reporting ZZeod

TO Bcidot.org:

        Our Church needs to provide/expand our facility. Or we need to raise funds/borrow money and obtain/improve/build on our real property. Please share with us what you have on www.bcidot.org about such related finance and/or accounting topics as: Building Funds, Pledges, Construction and the overall issues of Land, Buildings and Equipment.

TO Onliner:

       First, I am convinced that such activity should be handled in such a way as to not clutter up your accounting system needed for your normal operations as you continue to carefully report authorized expenditures (Budget) to what has been spent to date --- plus activity/status of Spoken for Monies. We recommend a separate set of books for Building/Construction Activity and periodically bring it all together and provide a one page report, like that shown in 0786,

TO Bcidot.org:

        That must mean that we have a separate Building Fund checking account.

TO Onliner:

      Not really ---- please see the comments that Brad has shared in 3333 that might help you grasp what is normally needed.

TO Bcidot.org:

        OK --- please list below the title and location of any other pages on www.bcidot.org that would help us on this overall topic.

TO Onliner:

                OK - here goes:

           >   Pledges                                                        http://www.bcidot.org/all/0061-01.html

            >   Fixed Assets/LB&Equipment Fund      http://www.bcidot.org/all/0018-09.html

            >   Church Building and New
                      Construction Issues                            http://www.bcidot.org/chu/5024-02.html



            >   LB&E Set of Books                                  http://www.bcidot.org/all/0124-02.html

            >   Church fixed Assets                               http://www.bcidot.org/eod/2007-07.html

            >   Virtual Debt Servicing                             http://www.bcidot.org/chu/5019-02.html

            >    Land Building & Equipment (LB&E)

                   info at Fiscal Year end                          http://www.bcidot.org/qbsam/0767-07.html

            >    Memo Accounting for

                   LB&E                                                          http://www.bcidot.org/all/0102-02.html

            >    Ministry New Facility Dialog                   http://www.bcidot.org/eod/2008-07.html



TO Bcidot.org:

            Do you have a view on borrowing money to build. Some believe it is appropriate to have your money first before you begin a building project.

TO Onliner:

            Well that is ideal, but what if we had that philosophy before we bought our own homes? Just be sure you are not penalized if you can pay off any mortgage before it is due, etc.