Financial Best Practices October 5th, 2013
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ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA Financial Best Practices October 5th, 2013 Clergy – Laity Conference
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Clergy – Laity Conference. Financial Best Practices October 5th, 2013. ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA. Overview. Challenges - Need for Change Team Commitment Best Practices Recommendations – Next Steps. ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA. - PowerPoint PPT Presentation
Transcript of Financial Best Practices October 5th, 2013
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
Financial Best PracticesOctober 5th, 2013
Clergy – Laity Conference
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
Overview
• Challenges - Need for Change• Team Commitment• Best Practices• Recommendations – Next Steps
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
Parish Goals• Excellent Attendance and
Participation in Sacraments• Enthusiastic Participation in Activities
and Ministries of the Parish• Enthusiastic volunteering of time and
talents• Number and spiritual growth of the
parish
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
Parish Committees• Stewardship• House and Grounds• Finance• Food Festival• Technology
Website
• Ecclesiastical• Book Store• Youth Support• Greek School• Contracts / Legal /
Church by Laws
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
Financial Systems• Transparency• Outsource Financials • Basic Accounting Principles• YoY/ QoQ /MoM/ Reporting• Financial Organization and Roles• Financial System – QuickBooks Non
Profit• Audit Procedures
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
Finance Committee• Examine systems for
efficiencies/Modifications• Solicit expert opinion regarding money
market funds • Examine cost cutting strategies • Establish Financial Guidelines/Protocols• Give Guidance for Church Ministry
Accounts• Establish Checks and Balances• Perform Audit Procedures• Provide updates to General Assembly
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
2012 Stewardship
7%11%
16%
35%
25%
6%
400 Total Families
Under $100 (28)$100 to $149 (44)$150 to $249 (64)$250 to 499 (140)$500 to $999 (100)$1000 + (24)
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
2011 Stewardship Goals
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
Snow Removal Fund
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
Sample Food Festival
Revenue
Costs
Profit
$- $50,000 $100,000 $150,000 $200,000
Food Festival 3 Years
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
Profit &Loss2012
Revenue $550,859
Expenses $592,661
Net Income ($41,792)______
Stewardship $110,625
2010Revenue $488,589
Expenses $477,135
Net Income $11,454______
Stewardship $126,180
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
Fundraisers2010Revenue $41,616
Expenses $16,265_____
Profit $25,351
* Excludes Food Festival
2012Revenue $48,912
Expenses $21,301______
Profit $27,611
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
House and Grounds Improvement
* Full Time Janitor** To Date*** Ending 10/31/11
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
House and Grounds
ANNUNCIATION GREEK ORTHODOX CHURCH BROCKTON MA
Projected Savings Energy Plan
• $25,000 value of fixtures, lightings, Motion Sensors (interior and exterior)
• $6,500 cost to the church – Payable in 24 months interest fee.
• Annual Savings of $3,500. • 2 Years the program will pay for
itself!
