If you haven’t read the first part or second part of this series please take a moment to read them. Assumption #4 – we can use last years numbers and just increase/decrease them a little, commonly called an incremental budget. The interesting thing is that many churches do this type of budget. While it may… ⪼ Continue Reading…
budget
But I haven’t Spent my Church Budget (p2)
Here’s the second part of a three-part series. If you haven’t read the first part of this series please read it here. Budgets work on assumptions, whereas financial statements work on actuals – what really happened to the money. Let’s look at some assumptions below that arise when ministries say they still have money in… ⪼ Continue Reading…
But I haven’t Spent my Budget (part 1)
How many times have church leadership heard a similar phrase to, ‘But I haven’t spent my budget’, when discussing ministry finances? In working with churches and their accounting systems, which involves budgeting, I see a lot of focus around budgets instead of the standard financial accounting reports approved by FASB (Financial Accounting Standard Board). While… ⪼ Continue Reading…
How to Budget a Church Mortgage Payment
A church budget is important to most church organizations and is a highly-utilized feature in IconCMO. However, budgets can only be set for revenue and expense accounts, which can pose a problem if you want to budget for a liability account such as a mortgage. For example, a typical Mortgage Payment of $1,000 looks like this:… ⪼ Continue Reading…
Big Events – Small Church Budgets (pt2)
This is the second and final part of a two-part series. If you haven’t read the first part please read it here. Can your church do a Share Day (please watch the video)? No matter the size of your church any church could gather volunteers and do one event or many events. As the video… ⪼ Continue Reading…
Big Events – Small Church Budgets (pt1)
Did your church ever want to plan an event but the cost just seems outrageous? Most churches can not afford events that cost tens of thousands of dollars. There are a lot of ways a church can come along the side of other churches or non-profits and help in the community without busting the budget.… ⪼ Continue Reading…