1. Help! I’m a church Treasurer By Richard Lim FCPA Finance Manager Baptist Union of Victoria

2. Workshop Title: Help! I’m a church Treasurer Workshop Facilitator: Richard Lim Session 1

3. Workshop Title: Help! I’m a church Treasurer “Keep it Simple” Accounting Records What is bookkeeping? the recording of financial transactions an accounting process transactions include purchases, sales, receipts and payments

4. Workshop Title: Help! I’m a church Treasurer “Keep it Simple” Accounting Records What is bookkeeping? basic system of double entry bookkeeping introduced in 1494 by a Cistercian monk called Luca Pacioli Luca Pacioli a system that still endures today and is used throughout the world, making bookkeeping a truly international profession

5. Workshop Title: Help! I’m a church Treasurer “Keep it Simple” Accounting Records Bookkeeping Transactions Sales, receipts, purchases and payments are recorded Become income or expenses and summarise in a report to determine profit or loss.

6. Workshop Title: Help! I’m a church Treasurer “Keep it Simple” Accounting Records Types of Bookkeeping Tools  Software (for e.g. MYOB, Reckon, QuickBooks, etc.)  Excel  Manual (multi column cash book)

7. Workshop Title: Help! I’m a church Treasurer “Basic” Financial Reporting Financial Reporting audience The amount of data transacted grows as a church expands; as does the number of interested parties who will be interested on reports. They are usually, the church oversight or management team any member of the church assembly or external parties (for e.g. banks)

8. Workshop Title: Help! I’m a church Treasurer “Basic” Financial Reporting Financial Report presentation Presentation as simple as a cash surplus/deficit statement to a profit & loss statement & balance sheet. Reporting periods can be Annually Quarterly Monthly

9. Workshop Title: Help! I’m a church Treasurer “Elementary” Financial Planning “Fail to plan, plan to fail” Purpose of Budgeting to control resources, to communicate plans to church and leadership team, to motivate support leaders

10. Workshop Title: Help! I’m a church Treasurer “Elementary” Financial Planning Common types of budgeting activities Revenue & expenses budget Capital budgets Cash flow forecasting

11. Discussion & Questions 1 “Keep it Simple” Accounting Records “Basic” Financial Reporting “Elementary” Financial Planning

12. Workshop Title: Help! I’m a church Treasurer Workshop Facilitator: Richard Lim Session 2

13. Workshop Title: Help! I’m a church Treasurer Healthy governance Some attributes of church governance Doing ministry in Teams Duty of Care – Church as a safe place Transparency & Accountability Annual Report Annual Financial Statements

14. Workshop Title: Help! I’m a church Treasurer Church & Taxes Federal and State taxes State of Victoria – State Revenue Office Payroll Tax $550,000 p.a. 4.9% Federal – ATO, ASIC & ACNC - ABN Income Tax, Exemptions, DGR (limited), PAYG, GST ACNC registration

15. Workshop Title: Help! I’m a church Treasurer Church & Taxes State of Victoria State of Victoria – State Revenue Office Exempt from payroll tax for wages paid by non-profit organisations and religious and public benevolent institutions.for wages paid by non-profit organisations and religious and public benevolent institutions

16. Workshop Title: Help! I’m a church Treasurer Church & Taxes Federal taxes BAS (GST) IAS (PAYG) Income Tax Exemptions, Building fund raising (DGRs) ACNC registration

17. Discussion & Questions 2 Healthy governance Church & Taxes

18. Workshop Title: Help! I’m a church Treasurer Workshop Facilitator: Richard Lim Session 3

19. Workshop Title: Help! I’m a church Treasurer Spirituality & Team Work Good financial practices that build trust in leadership Selection and appointment of capable financial stewards (…entrust to reliable people who will also be qualified to teach others. 2 Tim 2:2)

20. Workshop Title: Help! I’m a church Treasurer Relationships Human Resource Pastor advisory (@the BUV) Job descriptions For pastors and, other church employees for clarification of role and performance expectations

21. Workshop Title: Help! I’m a church Treasurer Relationships Role & Remuneration Regular payment in recognition of pastor’s work (Stipend) Exempt Benefits (TR92/17 & FBT Act s57) Payroll package (recommends software) Ministerial Long service Leave Fund (MLSLF)

22. Discussion & Questions 3 Spirituality & Team Work Relationships

23. THANK YOU