Ministry of the Church Treasurer
MCC Resource for Treasurers of Our Local Churches US Edition
Table of Contents
The Treasurer as a Steward ………………………………………………………….002
Core Competencies of a Treasurer …………………………………………………003
Specific Roles and Responsibilities ……………………………………………….004
Chronological List of Tasks for the Treasurer ……………………………………005
References and Resources…………………………………………………………...007
Forms ……………………………………………………………………………………..009
The Treasurer as a Steward
The ministry of the church’s Treasurer is one of Stewardship—that is, managing, safeguarding, and maintaining the financial resources entrusted to the church by the congregation and others to carry out its mission and vision.
Though the Board of Directors and others in the church—counters, budget teams, stewardship committees, etc—all share responsibility as stewards of church assets and financial operations, it is the Treasurer who has the specific responsibility of day-to-day management of the church’s financial resources by:
1)ensuring that sound fiscal practices and procedures are followed in compliance with the church’s Financial Operating Procedures (FOP)
2)providing accurate, up- to-date financial information on the church’s financial position to the congregation and to the Board for review and decision-making purposes.
Candidates for Treasurer are members of the Board of Directors, as elected by the congregation. Usually, the position of Treasurer is elected by and within the Board itself. The Treasurer is accountable to the congregation through its relationship to the Board of Directors and acts on authority granted the position by church by-laws and the Board.
Core Competencies of a Treasurer
One does not have to be an accountant or bookkeeper to be a good church treasurer. However, there are several qualities necessary to be successful in the position.
1.Honesty and trustworthiness—the congregation must have complete confidence in the one who manages their gifts to God’s church.
2.Well-organized—the Treasurer is responsible for ensuring that many tasks are completed, both accurately and in a timely manner; organization and attention to detail is critical.
3.Willingness to learn and seek guidance—those coming to the Treasurer’s position without formal accounting or bookkeeping training must become familiar with basic accounting principles, and the nuances of fund or church accounting, as well as the financial operating procedures specific to their local church. If the policies and procedures are non-existent or incomplete, it is the responsibility of the Treasurer to request that the church address such issues as soon as possible.
4.Commitment—the Treasurer’s job is time-consuming. Even though a number of tasks can and should be delegated to others, it remains the Treasurer’s responsibility to ensure that those tasks are completed in an accurate and timely fashion. This may require up to 6 hours per week.
5. Ability to work well with others—A significant part of the Treasurer’s responsibilities involves interacting with others within the church, for example, the other members of the Board, church staff, various committee members, volunteers, and individuals in the congregation. The Treasurer should be able to confidently convey information, delegate necessary tasks, and direct and empower volunteers in a courteous, agreeable manner.
Specific roles and responsibilities
The Treasurer essentially serves as the Chief Financial Officer for the church. Specific responsibilities—which should be set forth in a job description—include, but are not limited to:
- Maintaining accurate records of church finances
- Overseeingthe receipt and recording of all income
- Overseeing the Disbursementand recording of all Expenditures
- Performing or overseeing the recording of all members’ gifts into personal giving records.
- ManagingPayrollor working directly with a payroll company
- Preparing the monthly (or quarterly) financial reports for the Board of Directors
- Working with the Board of Directors to establish spending priorities
- Filing required tax forms (local, state, and federal)
- Filing required monthly, quarterly, and annual reports to MCC.
- Ensuring payment of monthly Tithe to MCC.
- Overseeing the counting and depositing of tithes and offerings.
- Providing the congregation with any requested financial information
- Assisting in the preparation of the annualBudget for the church
- Overseeinginternal controls to protect the assets of the church.
Chronological List of Tasks for the Treasurer
Weekly/Bi-weekly
1)Ensures that payroll information is submitted timely to the church’s payroll processing service, if applicable.
2)Ensures that invoices, check request forms, and checks are processed in accordance with the church’s FOP.
3)Ensure that qualified counters are available each Sunday (and for every event in which an offering is collected).
4)Ensure that deposits are made or properly secured in accordance with FOP.
Monthly
1)Ensures that bank statements are reconciled.
2)Ensures that an up to date analysis of the current financial position of the church is available for review at each Board meeting, including bank account balances, fundbalances, and detailed actual versus budgeted income/expense analysis of the Operating Fund.
3)Oversees the preparation and submission of the monthly Tithe and Tithereport to the UFMCC.
Quarterly
1)In the event that payroll is handled within the church, the Treasurer shall ensure the following items are completed in a timely basis:
a)Submits quarterly withholding taxes to the IRS or an approved agent
b)Submits quarterly941 report to the IRS of payroll and deductions
2)Oversees the preparation and submission of quarterly Pension Fund reportsto UFMCC Board of Pensions (USA only).
Annually
1) Develops or works in conjunction with a budget committee to develop the proposed operating fund budget for submission to the Board and approval by the congregation.
2)Oversees preparation of financial reports for presentation at congregational meetings and forums.
3)In the event that payroll is handled within the church, the Treasurer shall ensure the following items are completed in a timely basis:
a)Prepares year end W-2's for employees
b)Prepares year end 1099's for miscellaneous income of anyone who received over $600 for providing services to the church
c)Prepares 1099-Ifor individuals who received interest from the church on monies borrowed or held by the church. Note: This is uncommon.
d)Prepares and files year end W3 and 1096.
4)Submits sales tax statement and/or pay applicable sales tax to the local jurisdiction, for any items sold during the year, in accordance with the jurisdiction’s time frames.
5)Ensures that annualgiving statements are provided to all donors in accordance with the church’s FOP.
6) Ensure that banksignature cards are updated to be in alignment with current Board membership.
7) Arrange for audit or reviewof church financial records and practices.
8)Prepare financial statements (per instructions) for annual submission to MCC Headquarters or Regional Office.
Regularly
1)In the event that payroll is handled within the church, the Treasurer shall ensure the following items are completed in a timely basis:
a)Processing of payroll payments.
b)Ensure that an IRS Form W-4 is on file for each employee for tax withholding purposes.
2)Conducts official business with the church’s financial institution(s).
3)Maintains a positive working relationship with the Bookkeeper, if applicable.
4)Provides the Board and the Congregation with periodic status reports on the operating fund’s status. Makes recommendation regarding options for addressing potential budget shortfalls and recommendations for addressing unexpected expenses.
WEB REFERENCES & RESOURCES
Websites
MCC Treasurer Facebook Forum
MCC Local Church Resources
Background Checks
References
Resources
Episcopal Fond Du Lac
Free Church Accounting
Sermon Logos
FORMS
Treasurer Job Description……………………………………………………………..011
Monthly Tithe Form ……………………………………………………………………017
Board of Pensions Election Form ……………………………………………………018
Board of PensionsTransmittal Form ……………………………………………...... 019
Risk Management Audit ………………………………………………………………020
Check Request Forms …………………………………………………………………026
Financial Operating Procedures ………………………………………………………028
Church Treasurer Job Description (Sample 1 of 4)
Position: Church Treasurer.
Purpose: Manage the financial activities of the congregation including income and revenue, expenses and disbursements, payroll, assets and investments.
Selection: Elected annually by the Board and accountable to the Congregation
Responsibilities and Duties
General
• Have a love of God and demonstrate a commitment to following the way of Christ.
• Be knowledgeable or obtain knowledge about church finance and accountability.
• Oversee and account for assets and liabilities, according to decisions of the congregation, Board and Denomination, in a reasonable, ethical and legal manner.
Weekly/Semi-Monthly
• Supervise collection, counting and deposit of contributions; ensuring at least two persons are present during collection and counting.
• Supervise timely payment of ordinary operating expenditures, including payroll. For irregular or non-operating expenditures, obtain permission or approval of the appropriate authority.
• Supervise and/or post transactions to the church ledger or provide for same.
Monthly
• Attend Board Meetings.
• Reconcile bank account statements to church ledger.
• Maintain records of all income, revenue, receipts, expenses, disbursements, assets and liabilities, especially documents related to loans, mortgages, investments and payroll taxes.
• Provide financial reports to the Board and Denomination on operating funds, non-operating funds, and cash balances / investments.
• Provide a summary of financial reports for the bulletin and/or newsletter.
Quarterly
• Provide a statement of giving to contributors following appropriate IRS regulations for tax deductibility.
• Prepare and report tax information, meeting IRS requirements.
• Supervise treasurers of all other congregational accounts, ensuring they follow appropriate procedures and safeguards.
Annually
• Arrange for an audit/review of financial records and processes, sending a copy of results to UFMCC.
• Oversee the financial planning including preparation of the annual budget.
•Ensure the preparation of financial sections of the Annual Report.
• Ensure the preparation of the yearend tax information including 1099-Misc and W-2 forms.
•Ensure processing of the commitments to the annual giving campaign or other campaigns of the congregation.
• Provide a detailed financial report for all Congregational Meetings.
• Report to the Denominational Pension Fund any changes in clergy compensation. The arrival or departure of clergy should also be reported
Adapted from the Episcopal Fond Du Lac
Church Treasurer Job Description (Sample 2 of 4)
Job Title: CHURCH TREASURER
General Qualifications:
The Church Treasurer must be experienced in general office skills and demonstrate proficiency in general bookkeeping practices and be proficient in operating office and printing equipment of the Church.
Principal Functions:
The Church Treasurer is responsible to the pastor and the church for performing her/his duties related to the ministries of the Church. The Church Treasurer should radiate a personality that reflects Christ’s concern for people; demonstrate technical competencies required of the position; and be of such Christian maturity and stability to be able to maintain composure and confidentiality in all situations. S/He shall be responsible for managing her/his work efficiently, coordinating with the events of the church office; and maintaining a professional personal appearance while representing the Church.
Working Relationships:
The Church Treasurer shall be evaluated annually by the Board, with the assistance of the Pastor.
It is understood that the Pastor and the Board have the authority (as authorized by the church) to request the Church Treasurer to perform various tasks related to her/his job as needed in the church ministries.
Responsibilities:
The Church Treasurer is responsible for the following:
- Maintaining the church financial records; preparing and issuing checks for invoices and payroll in accordance with church policy; preparing periodic financial reports for the finance committee and church business meetings; making all deposits of all church tithes and offerings including all monies collected by the church staff for various church functions; maintaining church records of contributions (contribution records must be maintained with strict confidence); and keeping records of all expenses for all church sponsored trips (i.e., retreats, mission trips, camp, etc.).
- Preparation of the financial portion of the annual church letter.
- Maintaining all social security, medicare, and withholding records, and filing proper forms as prescribed by the Internal Revenue Service.
- Performing other miscellaneous duties as are appropriate to the office of treasurer.
The Church Treasurer shall be a member of the Board, the finance committee, and building committee on new construction.
The staff of theChurch is expected to be dedicated to the cause of Christ, to work with each other to promote a harmonious working environment, and to demonstrate concern for the needs and problems of the church body and the community.
Adapted from the Sermon Logos
Church Treasurer Job Description (Sample 3 of 4)
Requirements: Shall be elected from the Board of Directors
Responsibilities:
- Process all checks, recording them in the appropriate accounting software program.
- Process all payroll checks, Tax Form 941’s, W-2’s and other government records required in a timely fashion.
- Insure that computer files are backed up weekly, at a minimum monthly, and the back-ups are stored off premises.
- Prepares the monthly and annual finance report.
- Supervise daily cash balances to insure sufficient funds are maintained.
- Maintains filing system and storage system for all financial records and banking records for easy retrieval.
- Prepares records for annual audit
- Maintain historical data, and establish a retention system for old financial records in accordance with government requirements (minimum of 5 years).
- Files all the required federal, state, and local tax forms.
- Assists in the preparation of the annual budget.
Adapted from the Free Church Accounting
Church Treasurer Job Description (Sample 4 of 4)
Term of Position: The church treasurer is elected by the congregation. The term is three years coinciding with the fiscal year of church business, January 1 to December 31
Supervised by: Board of Directors with congregational approval
Coordinates with: Pastor, Board of Directors and Staff
Supervises: All church finances—receipts and disbursements
Responsibilities:
1. To be accountable for all church finances
2. To keep complete records of receipts and expenditures
3. To provide an itemized report of funds at the annual church meeting
4. To provide for preparation of the budget through the Board
5. To present current financial report to the Board at their meetings
6. To present all financial reports to the Board upon request of the Moderator or to legal successor at expiration of term
7. To oversee collection of offering each Sunday
Figure 1 2011 MCC Monthly Tithe Form English USD
2011 MCC BOP Quarterly Payment Form 1
2011 MCC BOP Transmittal Form 1
RISK MANAGEMENT AUDIT 2012UNITED STATES EDITION
Employment (Paid and Volunteer)
Yes / No / Don’t Know / CommentDoes each Clergyperson (paid or volunteer) who is doing an active, authorized and accountable ministry in your church have a current employment contract/covenant?
Do you have a sexual harassment policy?
Have background checks been done on all persons (paid or volunteer) who are involved in children, youth or counseling ministries?
Do you have personnel policies concerning the handling of employee records that address the privacy issues involved?
Do you have personnel policies approved by the Board to promptly and thoroughly investigate allegations of misconduct by employees?
Do you adequately orient new employees/ volunteers concerning employer policies and procedures?
What ongoing training is provided by church employees/volunteers to help them perform their duties in light of changing national and local laws?
Are all employees and volunteers supervised to reduce their risk of negligence and misconduct?
Does the church issue the appropriate Internal Revenue Serviceforms to all church staff and others who have been receiving financial compensation from the church during the previous year?
Financial Management
Yes / No / Don’t Know / CommentAre all signature authorities reviewed and updated at least annually and are all checks and other bank instructions signed by two signatories?
Are at least two persons present during the counting of church offerings and are these persons rotated periodically?
Are offerings promptly deposited in a church bank account?
Are monthly bank statements reconciled with recorded income and expenses?
Are monthly written financial reports provided promptly to Board members?
Does the congregation approve your annual budget prior to the beginning of the new financial year?
Does the Board keep to the budget approved by the congregation and is there a procedure in place for reporting exceptions?
Do you comply with all donor restrictions on designated contributions?
Insurance
Yes / No / Don’t Know / CommentDo you provide Worker’s Compensation Insurance for all paid staff?
Do you have general liability insurance with minimum coverage of $1 million and director’s insurance? Please submit a copy of the declaration page indicating the amounts.
Do you annually review your insurance policies and other possible coverage and is this documented in your Board of Directors’ minutes?
Do you have proper documentation of church assets?
Do you contact your insurance agent as soon as a loss occurs or an allegation of negligence or misconduct is made?
Do you comply with all conditions specified in your insurance policies?
Who annually inspects your properties and grounds to identify risk areas that require correction? / ------/ ------
Church Records
Yes / No / Don’t Know / CommentDo you have a copy of your bylaws kept in a safe place outside of the church/pastor’s office?
Is your church incorporated?
Have you filed all annual reports required by the State?
Have all changes to your bylaws been approved by the Network Elder?
Do you have a records retention policy that specifies how long church records are to be kept?
Are legal documents such as Board of Directors Meetings Minutes and Congregational Meeting Minutes kept readily available?
Where do you maintain your important legal records such as deeds, rent agreements, etc.?
Are Minutes and financial reports posted so that church members can view them?
Copyright and Publications