Protect Church Funds with this Helpful Tip for Pastors, Finance Chairs and Trustees!
You’ve heard it said that an ounce of prevention is worth a pound of cure. Nowhere is this truer than in our stewardship of church funds. It is rare, but when embezzlement hits a local church it can be devastating. One sound practice is to annually review who can write checks and make investments for your church. As your charge conference approaches include the Georgia United Methodist Foundation’s Certificate of Incumbency and Resolution of Governing Body forms which affirm who may sign documents for your church. Banks and other fiduciaries have these forms that specify who can authorize transfers and withdrawals by position and incumbent. An incumbent is one who occupies a position. It’s a good idea to review these forms annually or to submit a new form whenever an incumbent changes. This won’t prevent all possibility of embezzlement, but it gives clear instruction to your fiduciaries regarding who has your authority to make changes on your accounts!