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September 17, 2020

Five Barriers to Overcome for Financial Accountability

Category: Administration, Fraud Prevention | Tags: , ,

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Most churches keep financial records, but not all ministries protect and steward their funds effectively from the ravages of fraud. Stewardship includes more than just keeping records, it requires that one takes proper care in the receiving and spending of His resources.

The Barriers

What churches and non-profits should be saying about their finances are:

  1. Financial health is important.
  2. Our ministry will take the necessary time to get it right.
  3. We will get the money.
  4. Our hiring or recruiting will be the right people.
  5. We will obtain the knowledge necessary.
5 Barriers to Overcome for Financial Accountability

Digging Deeper

It is important to educate the constituents and committees involved of the importance of financial accountability. Yes, it will take time, but that time will be well spent. It will be important to set benchmarks for reportable progress. If the funds are not currently available to take care of any issues, ask for the money, and set aside designated funds towards your goal.

Another important aspect on the road to financial integrity is to have the right people on the committee and leading the charge. Sometimes this requires an outside look. Gaining the knowledge necessary can be the biggest step of all; but you are already off to a great start by getting this far in this article!

Advantages of Financial Integrity

Just in case you need more convincing news – for you or your team – here are five advantages once you reach financial health:

  1. Sleep. You will be able to rest and serve more effectively.
  2. Never have to make excuses for how your finances are handled.
  3. Increases credibility of leadership.
  4. Encourages people to trust the ministry with their hard earned money.
  5. Sets a Godly example for others to follow: in business, community, and at home.

Even More

If you are still wanting more information, we’ve linked a few articles below. Miller Management can also provide more training on this valuable subject. Or, our team of staff accountants and Certified Fraud Examiners can take a look at your finances with our Administrative Audit.