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). There are no 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 agreed?

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

Is the church able to account for its various restricted funds?

Does the church understand the costs which it is incurring, 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?

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

How Simply Churches Can Help

Simply Churches can help by drafting financial policy documents, helping you choose and implement accounting software, prepaing financial and management accounts, bookkeeping, payroll etc. Please see our case studies.

ü Financial Statements	ü Management Accounts	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	ü Corporate structure	ü Record retention	ü Payroll
ü Financial controls	ü Gift Aid	ü Cost control/cost review

Please contact us on 020 7272 2504

Simply Churches

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