First National Bank is our bank of record, with the closest branch located in the plaza at the northwest corner of Drake and Taft Hill.
Bank Deposits are made on a weekly by our offsite Bookkeeper who is also responsible for recording source of deposits, pledges, donations, building use, etc. Staff or lay leaders wanting to designate a deposit should complete and sign a Deposit Tally Sheet located in the church office. The Tally Sheet is important for identifying the source of the money (e.g., ff registration fees, pizza lunch etc.), the total amount enclosed, a breakdown of cash and checks and, the account number. The Tally Sheet and funds can be placed in the safe drop or given directly to a staff member.
II. Check Writing
Checks are written on a weekly basis or as needed for emergency/special occurrence. Checks are written in response to invoices, billing statements, and payment requests approved by a team member, staff member, or minister.
Our offsite Bookkeeper picks up check requests and drops off checks weekly. Checks will be signed by one of our ministers or the church administrator.
Request can also be submitted by email by the church administrator only.
III. Account Reconciliation
The bookkeeper is responsible for reconciling all bank accounts each month, utilizing the reconciliation tool in Quickbooks, and ensuring that all activity reflected in the bank statements are accurately reflected in the books and vice versa. The Administrator reviews and approves the reconciliations each month when the month-end reports are submitted by the bookkeeper.
Investment accounts are reconciled quarterly and reviewed by the Administrator. Reconciliations are sampled for accuracy as part of the annual audit conducted by the Board’s Finance Committee.
B. Automatic Payment of Pledges
Automatic fund transfers are an easy way to honor pledges. They help the church by providing regular and predictable monthly income. Automatic pledge payments can be initiated by the congregant by providing a voided check to the administrator or initiated themselves through our Planning Center Online (PCO) database. Each congregant can choose which date their withdrawal will take place.
PCO automatically applies the transfer to the congregants pledge account.
C. Petty Cash
A petty cash fund of $250 is held in the church safe. All expenditures from the fund must be properly documented as to the nature of the expense and accompanied by a receipt. As necessary, the bookkeeper will request replenishment for the total of all receipts to return the total cash to the approved fund balance. At all times the cash plus receipts will equal $250 The petty cash fund is subject to review by the administrator or bookkeeper at any time.