Supplement to the Fund Balance Report

By Ricardo Ellis,2014-04-05 21:58
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Supplement to the Fund Balance Report

    Audit Report Supplement

    Oklahoma Conference of The United Methodist Church

    Answer the following questions and explain in adequate detail

    any “No” answers? Use the tab key to move through the fields. Church:

    For the period beginning January 1, and ending December 31, Please answer the following questions and explain in adequate detail any “No” answers.

     Yes No If no, explain 1. Is counting of funds received

     performed by at least two people not

    of the same household?

    Has the Committee on Finance 2. established procedures for depositing

    funds received?

    Are the funds deposited promptly in 3. accordance with the procedures

    established by the Committee on


    Does the Financial Secretary keep 4. records of the contributors and


    Are bank accounts reconciled 5. monthly by someone who does not

    write checks?

    Are the Church depositories 6. approved by the Church Council?

    Is the person who writes the checks 7. different from the person who signs

    the checks?

    Are budgets prepared by the 8. Committee on Finance?

    Are budgets approved by the Church 9. Council?

    Are changes to the budget approved 10. by the Church Council?

    Did the Treasurer disburse all money 11. contributed to causes represented in

    the budget, and such other funds and

    contributions as determined by the

    Church Council?

    Updated July 2010

Did the Treasurer remit, each month, 12. to the conference treasurer all World

    Service and conference benevolence funds on hand?

    Were contributions to benevolence 13. used for the cause to which they were given?

    Were contributions designated for 14. specific causes and objects promptly

    forwarded according to the intent of the donor?

    Were contributions designated for 15. specific causes and objects used for

    the purpose to which they were given?

    Did the Treasurer make regular and 16. detailed reports on funds received and expended to the Committee on Finance and the Church Council?

    Did the Committee on Finance 17. prepare an annual report to the

    Church Council of all designated

    funds that are separate from the

    current expense budget?

    Is the Treasurer adequately bonded? 18.

    Are payroll taxes paid on a monthly 19. basis?

    Have you received any 20. communication from the IRS

    regarding unpaid taxes?

If yes, explain

    Is the information provided on the 21. Financial Summary accurate and complete?

    Has the Financial Summary been 22. approved by the Finance Committee and the Administrative Council?

    a. Do you have written internal 23. accounting control policies and procedures?

    Updated July 2010

    b. Have the policies and procedures been reviewed this year?

    Are the above procedures adequate 24. to ensure the appropriate safekeeping

    and accuracy of the finances of the


    Was the GCFA Local Church Audit 25. Guide followed in conducting this


    Were there recommendations for 26. improvement as a result of the audit?

    If yes, list recommendations.

    Who performed the audit? 27. External Auditors Church Auditing Committee (check one)

    Provide the name of the external auditors or the names and positions in the church of members of the Church Auditing Committee.

Signed: Date:

     Chair of Finance Committee

    Signed: Date:


Copies of this report and Audit Report Financial Summary should be provided to the district

    superintendent by August 1 and copies included with Charge Conference reports.

Churches/ministries receiving funds from the Oklahoma Annual Conference should also provide

    copies of this report and the Audit Report Financial Summary to the conference treasurer by

    August 1.

Updated July 2010

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