Improving Cash Flow for Churches: Money and Ministry
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This PowerPoint was created by an XP with a ministerial background and a business mind, as well as a CPA/CFO with a business background and a ministerial mind who have found a way to make the marriage of money and ministry a happy one (most of the time.) This presentation will include ministry evaluation that leads to excellent audit preparation, strategic decisions that leads to strategic spending and savings, and simple changes that can lead to big "cha-ching" for improved cash-flow.
Improving Cash Flow for Churches: Money and Ministry
- 1. Money & Ministry 3 Steps to Improving Cash Flow Tim Samuel, CFO & Dave Michener, XP Bridgeway Community Church Columbia, MD www.bridgewayonline.org
- 2. Money & Ministry 3 Steps to Improving Cash Flow IntroductionWho? What? Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org
- 3. Money & Ministry: 3 Steps to Improving Cash Flow IntroductionWho? What? Tims Professional Mission Statement: To use numbers combined with business knowledge to change lives by the grace of God. Michs Professional Mission Statement: To help others maximize their Kingdom potential in the context of Bridgeway Community Church. Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org
- 4. Money & Ministry 3 Steps to Improving Cash Flow You would think some things are obvious, however
- 5. Money & Ministry 3 Steps to Improving Cash Flow The Cash Flow Equation Money @ beginning of point in time + Money collected - Money spent __________________________________ = Cash Flow Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org
- 6. Money & Ministry 3 Steps to Improving Cash Flow 1. Evaluate current cash position & processes. (1) Organize Data (2) Acquire Knowledge (3) Communicate Info Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org
- 7. Money & Ministry 3 Steps to Improving Cash Flow 2. Decide on what cash will (and therefore, will not ) be spent. (1) Collect Info (2) Prioritize Proposals (3) Communicate Decisions (4) Commission Leaders Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org
- 8. Money & Ministry 3 Steps to Improving Cash Flow 3. Create future opportunities (CFO). (1) Explore Options Call vendors. Buy in bulk. Double check bills. Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org
- 9. Money & Ministry 3 Steps to Improving Cash Flow 3. Create future opportunities (CFO). (1) Explore Options (2) Encourage Giving Provide Information: Sharing Sensitivity Provide Inspiration: Stories Say Thank You Spirit-led Situations Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org
- 10. Money & Ministry 3 Steps to Improving Cash Flow Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org
- 11. Money & Ministry 3 Steps to Improving Cash Flow ConclusionSo what? Now what? Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org
- 12. Money & Ministry 3 Steps to Improving Cash Flow IntroductionWho? What? 1. Evaluate current cash position & processes. (1) Organize Data (2) Acquire Knowledge (3) Communicate Info 2. Decide what cash will (and therefore, will not) be spent on. (1) Collect Info (2) Prioritize Proposals (3) Communicate Decisions (4) Commission Leaders 3. Create future opportunities (CFO). (1) Explore Options (Call vendors. Buy in bulk. Double check bills.) (2) Encourage Giving Information: Sharing & Sensitivity. Inspiration: Stories. Say Thank You. Spirit-led Situations. ConclusionSo what? Now what? Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org