Ex-Pastor Found Guilty In Embezzling $1M From Chur - Page 3

Praxeas · #21 10-01-2010, 12:58 PM

And the City of Bell proves that even if a pastor has checks and balances, ie other signers or a board, they can all be corrupt

coadie · #22 10-01-2010, 01:46 PM

Quote:

Originally Posted by Praxeas

And the City of Bell proves that even if a pastor has checks and balances, ie other signers or a board, they can all be corrupt

That is why we require CPA audits and publish financial statements.

TJJJ · #23 10-01-2010, 01:51 PM

Gotta be a UPCI problem, just ask DA1/2.

Praxeas · #24 10-01-2010, 01:57 PM

Quote:

Originally Posted by coadie

That is why we require CPA audits and publish financial statements.

That should be the rule for all churches

coadie · #25 10-01-2010, 02:06 PM

Quote:

Originally Posted by Praxeas

That should be the rule for all churches

In my state is was a law for all S& L's but not for banks.

If a church has debt, the banks often requires an audit.

The average american church is 65 people. Our church has 7 bus routes that large. 65 folks are not enough to pay for an audit.

Margies3 · #26 10-01-2010, 02:44 PM

I've wondered how this has turned out. Thanks for keeping track of it and letting us know, MOW. I know this is difficult for anyone who knows this man.

Sam · #27 10-01-2010, 05:48 PM

Quote:

Originally Posted by coadie

Our church requires 2 signatures on checks. There may be a minimum on this. ... .

I am treasurer for our local FGBMFI chapter.
I count the offerings then have someone else verify the amount.

We have two signatures on each check but the President usually just signs several at a time and I fill them out and sign them as needed. When I present him the checks to sign I have them filled out as much as possible but some are blank (so that would be an opportunity for me to skim some off the account). I am not bonded. Each year I file an electronic tax form as a non profit organization.

Each month (calendar month) I provide a written report to all who attend our breakfast/business meeting of:
--beginning balance
--all money received by which category i.e. breakfast offering, banquet receipts, dues, banquet offering, any other offering, stamps donated
--all money spent (checks written) by amount and to whom written
--ending balance

At the end of the year I provide a yearly report broken down like that above for all who are at the January breakfast meeting plus a copy to FGBMFI headquarters.

One of the expense categories is "Officer Compensation" which is always zero

last month we had about $4 left at the end of the month.
this month it is over $200

Cindy · #28 10-01-2010, 06:03 PM

How big was this church?

coadie · #29 10-01-2010, 06:15 PM

Quote:

Originally Posted by Sam

I am treasurer for our local FGBMFI chapter.
I count the offerings then have someone else verify the amount.

We have two signatures on each check but the President usually just signs several at a time and I fill them out and sign them as needed. When I present him the checks to sign I have them filled out as much as possible but some are blank (so that would be an opportunity for me to skim some off the account). I am not bonded. Each year I file an electronic tax form as a non profit organization.

Each month (calendar month) I provide a written report to all who attend our breakfast/business meeting of:
--beginning balance
--all money received by which category i.e. breakfast offering, banquet receipts, dues, banquet offering, any other offering, stamps donated
--all money spent (checks written) by amount and to whom written
--ending balance

At the end of the year I provide a yearly report broken down like that above for all who are at the January breakfast meeting plus a copy to FGBMFI headquarters.

One of the expense categories is "Officer Compensation" which is always zero

last month we had about $4 left at the end of the month.
this month it is over $200

I don't see any problems here but in doing an audit I would have some more questions. They are routine, like who opens the mail, sees and reviews bank statements and who does bank reconciliations.

A signature on a blank check actually is a theft risk. If someone stole the check, it could be submitted and clear.

Sam · #30 10-01-2010, 06:52 PM

Quote:

Originally Posted by coadie

I don't see any problems here but in doing an audit I would have some more questions. They are routine, like who opens the mail, sees and reviews bank statements and who does bank reconciliations.

A signature on a blank check actually is a theft risk. If someone stole the check, it could be submitted and clear.

We don't get much mail, just a monthly bill from the printer, a monthly bill from the banquet facility, and thank you's from FGBMFI HQ and from Operation Serve (to whom we give a monthly offering).

I review and reconcile the bank statements. I have several years worth but nobody has ever asked to see one.

I realize a signature on a blank check is risky. It could be stolen. We require two signatures on our checks and I add my signature when I fill in the check.

Our total yearly income for 2009 was $16,115.63 and total expenses were $16,139.76. Our total receipts for 2008 were $14,409.11 and total expenditures were $14,763.33. Our total receipts for 2007 were $14,187.96 and total expenditures were $14,396.20. So, there is not much money there for the treasurer to get rich from.