American churches tend to operate with the mindset that budgeting is a formal, annual process that must be performed in a manner and time frame that aligns with the church's fiscal year. In reality, there is no legal requirement for such a formal or annual process.
Caution. Consideration must be made, however, of an individual church's governing documents (articles of incorporation, constitution, bylaws, etc.) and polity, including denominational books of order or other similar authoritative sources that may impose specific, formal, annual budgeting requirements.
Fluid, dynamic alternatives
With improved technologies and availability of more timely financial information on a regular basis, churches are able to monitor and forecast activities and costs on a more dynamic basis than has been the case in the past. As a result, some churches have adopted alternatives to (either as a supplement ...