The MET has in place many accounting and financial controls that assist in the prevention of impropriety of assets of any kind. This area of the church is supervised by the Administration/Operations Pastor and the Business Administrator. No other ministry has controlling supervision in this area—including the Lead Pastor.
First, the church is audited by an independent, outside CPA firm annually (which must be completed within 120 days of the fiscal year's closing). This information is not only used for internal controls—but is required by our banking relationship as a normal course of business. The annual audit is sent to the church financial office, the church's bank, the church Treasurer, and the Stewardship Team. It complies with the entire Local, State, and Federal regulations as required, and as requested by our church (This is a Bylaw requirement).
Second, the assets of the church are of the church alone. Before any asset of significance can be disposed of, purchased, sold, transferred, or other similar action— there must be church action. At a minimum two elected Trustees must sign the official legal documents for said action. The assets do not belong to any certain segment of the church but to the church and its active body (This is a Bylaw requirement).
Third, any expense by any ministry, or Staff person, of the church must have approval of a superior prior to being turned into Finance for payment or reimbursement. Once payment is approved and entered into the church Financial System—it is accounted for by Ministry, by month and year, within the church financials. Once checks are printed for expenses, there must be two signatures placed on the check by certified check signers within the church office in which a review is performed by those individuals before signature is applied. There are appropriate general accepted accounting principles (GAAP) practices in place that include Purchase Order processes, Invoice approval processes, approved vendors, and the like.
Finally, the Stewardship Team and Treasurer meet regularly to discuss the Monthly and Year to Date financial results with the church Finance and Administrative staff. Any and all concerns are reviewed during these meetings. This review includes the development, tracking, and accountability to the Annual Budget (Accounting Policies and Bylaw requirement).
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