Highlighting a great tool: The Bill Pay Sheet

From my course, The Many Roles of the Executive Pastor, Module 3 – Chief Financial Officer:

Cash flow management in a church involves overseeing the inflow and outflow of financial resources to ensure financial stability and support the church's mission.

This function includes:

1. Budgeting: Developing a budget to plan and allocate financial resources for various church activities and expenses, such as utilities, staff salaries, and outreach programs.
2. Monitoring Income: Tracking donations, tithes, and other sources of income to ensure they meet budgeted expectations and cover expenses.
3. Expense Management: Controlling spending by prioritizing expenses, negotiating contracts, and seeking cost-saving opportunities without compromising the church's mission.
4. Cash Reserves: Building and maintaining cash reserves to cover unexpected expenses or income fluctuations, providing financial stability during lean periods.
5. Financial Reporting: Generating regular financial reports to communicate the church's financial health to leadership, stakeholders, and regulatory authorities.

Overall, effective cash flow management ensures that the church can fulfill its mission, support its ministries, and sustain its operations while maintaining financial health and integrity.

This is only one of many aspects of the Executive Pastor’s role as Chief Financial Officer (CFO) that I cover in Module 3 of my course, The Many Roles of the Executive Pastor.

There are 21 downloadable resources included in the course! The one I highlight and use for Cash Flow Management is the Bill Pay Sheet.

Learn more about the course HERE.