Managing Money

Each YWAM base will have different ways of managing money. Handling finances wisely and well is vital and important to our organisation. Here are some topics and examples of things we need to consider.

General Principles

 * Integrity - transparency on right financial actions
 * Accountability - having others examine our actions
 * Good accounts - keeping a good record
 * Traceability - making sure that we can trace the flow of money through the organisation. From receipts to auditors' reports
 * Designated Gifts - not changing the purpose they were given for
 * Generosity and giving - our values and core
 * Approval, permission and submission of a purchase
 * Double signatures, prevent combination of financial functions (e.g. paying & entering invoices)
 * Counting cash
 * Security and safety
 * Thanking donors

Various Topics

 * Safes
 * Managing a Cashbox
 * Budgets and business plans
 * Mortgages and Loans
 * Contracts and liabilities
 * Accounting codes and cost centres
 * Ministry Fundraising
 * Receipts
 * Bookkeeping systems and terms and help
 * Value Added Tax (Sales Tax)
 * Other taxes
 * Insurances
 * Spending levels and limits for financial accountability
 * Money pots - stamps, postage etc.
 * Staff Fees - general principles including sliding scales of fees for developing nations
 * YWAM Tithes or cutting the cake finely upstream
 * Theft Prevention
 * Dealing with Theft (internal or external)
 * Avoiding financial scams
 * Accounting Software

Resources

 * Any good books?