Grade Report re M-Agency Fiscal Matters, Sample of  8128-77   ZZmis

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                             TO:  Interested Mission Agencies                                                                    FROM: Jim Bramer, Retired CPA-Auditor
                                                                                                                                                                FILE: 8128-77/mis 

                             RE:  Grade Report re M-Agency Fiscal Matters,  Sample of                      Originated on:  July 1997


           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.  The Auditor's poor grades need to be clear to all.

S U B J E C T

Strong

OK

Weak

Fiscal Overview:

A>

Apparent fiscal stability

______

______

______

B>

Debt Management

______

______

______

C>

Realistic Fund Raising

______

______

______

D>

Staffer Funding

______

______

______

Board Matters

E>

"Independent" nature

______

______

______

F>

Board is properly fulfilling its

responsibilities re finances

______

______

______

G>

A functioning Board non-staff

Treasurer

______

______

______

H>

A properly functioning Board

Finance Committee (FinCom)

______

______

______

I>

Ministry financial planning and

projections.

______

______

______

J>

Overall protection of Ministry

tangible assets.

______

______

______

REPORTING AND MANAGEMENT

K>

Adequacy of financial reporting

including actual to budget

reporting system.

______

______

______

L>

Overall management of accounting

system.

______

______

______

M>

Adequacy of restricted funds

accounting and reporting

______

______

______

N>

Adequacy re use of computer

for finances.

_____

_____

_____

O>

Attention to cash flow management

_____

_____

_____

TRANX PROCESSING SYSTEM:

P>

Receipts

______

______

______

Q>

Purchases and/or Payables

Disbursements

______

______

______

R>

Payroll

______

______

______

S>

Journal Entries

______

______

______

T>

Bank Reconciliation

______

______

______

U>

Accts Receivable-if applic

______

______

______

V>

Inventory

______

______

______

X>

Fixed Assets

______

______

______

Y>

Restricted Funds

______

______

______

Z>

Overall distribution of work functions

to insure good "Internal

Financial

Controls"

______

______

______

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 .

Medical Insur 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


    Please Click Here for a list having to do with Mission Agencies topics here on www.bcidot.org.    The bulk of this Publication originated in July 1997 and was UPTD: April 20, 2010

ABOUT  US   |  OUR PURPOSE   |  TABLE OF CONTENTS   |  SEARCH  MATTERS  |  HELP DETAILS   |  FUND ACCTG VIA COMPUTERS   |  GLOSSARY