Q&A: Storing Church Funds

Can church funds and checkbooks be stored at a member’s house?

Vonna Laue, CPA
Bio
Can church funds and checkbooks be stored at a member’s house, or should they be locked in a safe at the church?

All funds received (cash and checks) should be deposited into the bank as soon as possible. If the deposit is made on Monday, it would be best to have the funds counted by least two people and then secured in a safe. The count sheet should be signed by both people and attached with the deposit ticket.

The checkbook for the church could be kept off premises. The internal control to protect the church and the individual would be that the individual with control of the checkbook either not be a check signer or that someone independent of that person receive the bank statements directly from the bank and review the statement and the canceled checks to make sure they are appropriate.

Vonna Laue has worked with ministries and churches for more than 20 years. Vonna was a partner with a national CPA firm serving not-for-profit entities through audit, review, tax, and advisory services. Most recently, she held the role of executive vice president for a Christian ministry that works to enhance trust in the church and ministry community.

This content is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. "From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers and Associations." Due to the nature of the U.S. legal system, laws and regulations constantly change. The editors encourage readers to carefully search the site for all content related to the topic of interest and consult qualified local counsel to verify the status of specific statutes, laws, regulations, and precedential court holdings.

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