Administration

Budget & Finance

Financial Reporting for First Presbyterian

Some have inquired about financial reporting to the congregation. In the past, weekly updates were included in the bulletin that reported solely on the status of total pledges versus cash collections. After some review, it was determined that these reports were not always accurate and were being reported to the congregation before bank and other reconciliations were performed at the end of the month.

This issue was taken up by the Extravagant Generosity team and the following process is now in place.

{C}·      Cash accounts are reconciled to bank statements shortly after the end of the month,

{C}·      After all other monthly journal entries are made, financial statement and budget reports are issued and submitted for review to the Extravagant Generosity Team, which meets the second Monday of every month,

{C}·      After team approval, financial information is presented to the Session which most often meets the third Sunday of the month,

{C}·      After review by both the team and the full session, a summary report of income and expenses will be issued in the bulletin. These reports will typically run about a month behind.

If you ever have questions regarding the financial status of the church, I’m happy to address those. Please know that this process and review is ongoing.  Our goal is to provide credible and accurate reporting and to improve the accounting and internal control system of the Church. Thanks for your patience.    

 

Here is a quick look at our financial standing at the end of August. Thank you for your faithful stewardship!

First Presbyterian Church-Jonesboro, AR

Statement of Activities-YTD August 31, 2014

REVENUE:

Pledges

$155,130

Non-Pledged Gifts & Other Income

27,235

Total Revenue

$182,364

EXPENSES:

Administrative Expenses

$180,040

Intentional Faith Development

4,814

Radical Hospitality

2,891

Risk Taking Mission

4,325

Passionate Worship

4,148

Total Expenses

$196,219

DEFICIT:

($13,854)

 

Personnel

Property

Stewardship


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