Finance Team 101 Course
Finance Team 101 is a course designed for pastors and finance team leaders to enhance their understanding of financial management within the local church context. The course covers essential topics such as budget creation and adoption, financial processes and controls, risk management, and financial planning. Its aim is to equip participants with the knowledge and skills necessary to make informed financial decisions for their congregation and to competently engage in the church's financial team.
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Unit 1 - A Vision for Faithful Stewardship
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Lesson 1: A Vision for Faithful Church Stewardship
In this lesson, Chris and Josh outline the vision for faithful church stewardship and various governance models, emphasizing God as the owner of resources and the role of stewards.
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Lesson 2: Aligning the Finance Team With Your Church's Mission
Lesson 2 focuses on aligning the finance team with the mission and vision of the church. It emphasizes the importance of defining the purpose and roles of the finance team within the larger purpose of the church. The lesson warns against being overly pragmatic and losing sight of the spiritual purpose behind the work of the finance team.
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Unit 2 - The Budgeting Process
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Lesson 3: Creating A Budget
In this lesson, Josh and Chris discuss the importance of budgeting in church finance. They emphasize the spiritual aspect of budgeting, highlighting the need to align the budget with the mission and vision of the church.
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Lesson 4: Adopting A Budget
Lesson four focuses on the budget adoption and approval process. It emphasizes the importance of planning and coordination in creating a healthy budget. The timeline for the approval process is discussed, along with the key stakeholders who need to be involved.
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Unit 3 - Processes and Controls
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Lesson 5: Stewardship Processes
In Unit 3 of FT 101, we discuss processes and controls in financial stewardship. Processes are defined as the bookkeeping, accounting, payroll, and purchasing workflows, while controls refer to internal controls over financial reporting.
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Lesson 6: Stewardship Controls & Payroll
In this lesson, we walk-through authorizing, approving, and reconciling are key aspects of financial controls. We also discuss the importance of controls in payroll and the distinction between employees and contractors.
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Unit 3 Q&A
The live Q&A for Unit 3 is posted above.
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Unit 4 - Understanding Financial Reporting
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Lesson 7: Financial Reports & Risk Management
In this lesson, Chris and Josh discuss the importance of financial reporting for church finance teams. They explain that financial reports, such as the balance sheet and profit and loss statement, provide a snapshot of the church's financial health and help identify areas that need attention.
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Lesson 8: Closing Q&A
In this final lesson of the course, we recap the key topics covered in each unit and answer questions related to finance team positions, setting a church planter's salary, purchasing a building, housing allowance, payroll deductions, and financial reporting.
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Unit 4 Q&A
The live Q&A for Unit 4 is posted above.
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