Best Practices: Financial Management

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Note to Readers: Please be aware that certain words have particular meanings in this document:

  • “Must” is used to describe practices required by state or federal law.
  • “Should” is used to describe highly recommended practices.
  • “Constituents” describes people with a stake in the success of the mission, and may include members, neighbors, clients, board, staff, volunteers, and contributors.

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Role in Society   |   Governance   |   Planning   |   Transparency and Accountability   |   Financial Management   |   Fundraising

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Financial Management

Gospel rescue missions recognize that all resources come from God, and that He requires missions to be good stewards. Missions have an obligation to act responsibly in managing their financial resources. They must comply with all legal financial requirements and should adhere to sound accounting principles that produce reliable financial information, ensure fiscal responsibility, and build public trust. They should use their financial resources to accomplish their goals in an effective and efficient manner and should establish clear policies and practices to regularly monitor how funds and gifts made in kind are used.

"Now it is required that those who have been given a trust must prove faithful," (I Corinthians 4:2).
     

    Resources for Financial Management

    Sample mission statements
      |  Strategic Plan  |  Org chart 1  |  Org chart 2  |  Internal controls checklist  |  Emergency plan  | Sample Risk Management Policies & Procedures  |  Infrastructure Checklist  |  Emergency Succession Plan  | Succession Planning Toolkit  |  Sample Plans Library