Finance

Governance Finance Independent Examination Buildings Health & Safety

Good finance is about planning, transparency and control

Planning helps the church manage its finances consistently. Planning manifests itself in the setting and implementation of agreed financial policies (for example on reserves, investments, building maintenance and grant making). The objective being that there are no unwelcome financial surprises.

Transparency promotes accountability and confidence in donors. Transparency manifests itself in timely and fully explained budgets, well presented management information, and detailed SORP-compliant* annual financial statements.

Control ensures that financial assets are preserved and also enhanced, and are available for their intended use.

*SORP 2005 is the abbreviation for: Statement of Recommended Accounting Practice: Accounting for Charities 2005. This was issued by the Charity Commission and is the standard applied to all charity accounts required to produce accruals based accounts.

Some Questions

Does the church have financial policies in place? If so, are they being implemented as envisaged?

Does the church have a statement of internal financial control? If so, are controls being implemented as agreed?

Does the church understand the costs which are being incurred, and is it maximising its income?

Are there measures in place to ensure the retention and preservation of the church's accounting records?

Does the church's accounting system enable the efficient disclosure of the church's financial position, including restricted funds?

Do the church's management accounts present the information required for managing the church's finances?

Is the church seeking to set up a trading subsidiary?

How Simply Churches Can Help

Simply Churches can help by undertaking a financial/business review, drafting financial policy documents, helping you choose and implement accounting software, prepaing financial and management accounts, bookkeeping, payroll etc. We can act as your outsourced finance function, providing a highly responsive and professional service. Please see our case studies.

ü Financial Statements	ü Financial reviews	ü Accounting systems	ü Bookkeeping
ü Funding	ü Restrcted funds	ü Investment policies	ü Ministerial retirement
ü Reserve policies	ü Taxation	ü Minister self assessment	ü Financial Planning
ü Trading (subsidiaries)	ü Corporate structure	ü Record retention	ü Payroll
ü Financial controls	ü Management Accounts	ü Cost control/cost review	ü Gift Aid

Please contact John Helm on 07963 003199

Simply Churches

Helping churches achieve the highest standards in governance, finance, buildings and health & safety