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Financial Safeguard Test

By October 31, 2017Liability


How secure are the financials at your organization?  It’s always important to keep the money your donors have entrusted to you safe, but it is especially vital this time of year, as nonprofits tend to see an increase in donations and welcome more newcomers through their doors.

This post was written by Ellen Wade for GuideOne Connections blog.

Test your financial security adeptness by answering yes or no to the questions below.

  1. Do we have clear, written procedures for collecting, counting, depositing and reporting our finances?
  2. Do we train ushers/collectors on how to take donations and then keep them safe?
  3. Are there always two unrelated adults with the money from collection to deposit?
  4. Do we keep our petty cash in a discreet location and monitor and audit its use?
  5. Do we have a separation between the ushers/collectors, counters, financial secretary and treasurer?
  6. Do we forbid anyone from taking funds home to count?
  7. Do we use a receipt or voucher system for purchases?
  8. Are our financial records safe (books or on computer)?
  9. Do we have an impartial, scheduled audit of our books?
  10. Do we keep a log of all accounts within the church?
  11. Are special event funds required to have two people present with them?
  12. Do we provide any security when large sums of cash are involved?
  13. Do we keep cash locked up?
  14. Do we use a system with transients that does not utilize cash?
  15. Are receipt and disbursement of funds reported to the membership?
  16. Do we encourage members to safeguard their personal belongings while on-site?

If you answered “no” to any of the questions above, you should consider making changes to your current financial safeguarding procedures.  A small change could make a big difference in protecting your contributions.

Thank you to GuideOne Connections Blog for partnering with us and allowing us to share this post on our blog. You can find the original post and many more awesome resources on their blog.