Last month I was invited to provide training on finance to the leaders of St. James' Episcopal Church (Elmhurst, Queens) during the retreat. Given the tight schedule and limited time, I summarized my past experience from work and church service into a 2-page handout--Best Practices for Church Financial Controls. The goal is to build trust, which is crucial to churches and other nonprofits relying on contributions. These practices on cash disbursement, petty cash, offering, accounting, budget, and audit would cover most of the major aspects of church finance. At the end of the presentation, I highlighted 3 tools for safeguarding valuable assets: physical control, segregation of duty, and oversight. I believe St. James' leaders could build and enhance the church financial controls successfully by adopting these best practices and tools. The handout could be downloaded by the clicking the button below:
 


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    Author

    Adam Cheung has over 17 years of auditing and accounting  experience with extensive background in the not-for-profit sector and New York State government entities. He is a CPA and holds an MBA from Baruch College. If you would like to reach him, send him an email to acheung@acaciaaccounting.com.

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