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Hello Reader , Many important decisions begin with trust. But when money, commitments, and professional relationships are involved, trust should be supported by clear agreements and thoughtful review. A recent lawsuit involving Rev. Delman Coates, senior pastor of Mt. Ennon Baptist Church in Maryland, brings this issue into focus. Rev. Coates has filed a lawsuit alleging he was the victim of a fraudulent scheme involving a $2.85 million personal loan to an attorney. According to the lawsuit,...
Hello Reader , You don't need a lengthy meeting to begin a useful financial checkup. Set aside ten minutes and ask: 1. Who can approve purchases and payments? 2. Who independently reviews statements and reconciliations? 3. Are reimbursement and expense rules written down? 4. Do leaders receive clear, regular financial reports? 5. Is there a process for reporting concerns without retaliation? If you discover a gap, write it down, assign an owner, and set a date to revisit it.Policies are most...
Hello Reader , Here's a quick weekend challenge for your church's leadership team. Before the year ends, review three safeguards: 1. APPROVALS: Who authorizes spending, and are the limits clear? 2. OVERSIGHT: Does someone independent review account activity? 3. RECORDS: Can your church locate the documentation behind important financial decisions? You don't need to overhaul everything at once. Start by identifying one process that could be clearer. A helpful question for your next board...