When it comes to managing the financials of a religious institution, the key factors are organization and trust. Like any organization, it’s unwise to assume that everyone can always be trusted.
Be highly organized and leave a traceable path for every move you make so that all of your financials can be accounted for. All too often, ministry processes are antiquated and involve a lot of paper and work that’s “in the heads” of those involved, instead of tracked and backed up as it should be.
A large piece of that vital organization is budgeting. If your church group is not putting together budgets on a monthly, quarterly, bi-annual or annual basis, it’s time to start. Just like a business, your nonprofit organization has to be able to manage its financials in order to stay afloat.
“By committing these numbers to paper, your chances of succeeding with your business are helped by anticipating future needs, spending, profits and cash flow. It also may let you spot problems before they mushroom, so that you can switch gears.” – Inc.com
The best way to create a church budget is using a budget software. These are simple, secure tools, often based online, that allow prompt you to plug in numbers for various categories. This can be a real timesaver and ensure you aren’t missing any aspects of your budget.
MoneyMinder offers a free budget software and we invite you to try it. Hundreds of nonprofit organizations have benefitted from our web-based software tools.