Header Finances

"We want to avoid any criticism of the way we administer this liberal gift." 2Co 8:20 

 

Although we rarely speak of money issues publicly at Cowboy Church, we nevertheless believe that financial integrity and accountability are of utmost importance. Toward that end, we employ some of the strictest accounting and financial oversight procedures used anywhere.

 

How Does It Work?

 

Budgeting

  • Once a year, each of our ministry teams is asked to submit in writing an explanation of the activities they would like to do over the next 12 months along with a request for the amount of money they believe they will need to carry out those activities successfully.
  • These requests are then assembled by the Audit Team and sent to the Elders for final review and approval.
  • Once approved by the Elders, the requests are put in the form of a Budget and placed before the church for a vote. If the budget is approved, these funds become available to the Ministry Teams for the carrying out of their ministry.

 

Oversight

  • To ensure that Ministry Teams operate within their budget, every spending request must be reviewed by the Finance Secretary and approved in writing by the Pastor before a check is issued.
  • To further ensure that the Team Leaders, Finance Secretary, and Pastor have operated ethically and within the budget, every single expenditure is reviewed once a month by a 6 member Audit Team composed of church members familiar with accounting and sound financial practices. If any irregularity is found, all Elders are immediately notified in writing.
  • To even further ensure the overall integrity of our accounting and other financial procedures, a complete audit is performed every year by a fully credentialed outside audit firm. The auditor's report is then submitted in writing to the Audit Team.

 

Additional Safeguards

  • All financial transactions at Cowboy Church are to be accompanied by a receipt or other written document to ensure the transaction can be traced and audited.
  • All administrative staff is required to undergo training annually in order to be familiar with church accounting procedures and tax law.
  • Funds are always to be counted in the presence of at least three individuals who must submit a signed counting sheet along with their deposit.
  • Large sums of money are not to be held at Cowboy Church, but deposited as soon as possible in the night deposit of the local bank.

 

Financial Statements