Three Important Financial Realities Facing Churches Today

Episode #369
October 6, 2017
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Podcast Episode #369

LifeWay research recently released a study of financial issues in the church. Today, we discuss these three issues and ways churches can better prepare themselves financially.

Some highlights from today’s episode include:

  • 26% of churches have cash reserves of seven weeks or less.
  • Those who give faithfully typically budget their tithe.
  • Churches need both a facility reserve fund and a cash reserve fund.
  • Too many churches live for the day financially and do not plan for the future.
  • The two greatest legal dangers for churches today are child abuse and financial impropriety.
  • Having an external bookkeeper helps safeguard certain financial liabilities in a church.

The three financial realities we cover in this episode are:

  1. The need for cash reserves
  2. The potential for embezzlement
  3. The need for annual audits

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Resources Mentioned in Today’s Podcast