The Four Elements of a Financial Picture

There are four elements of a congregation's financial picture and these are the elements a Treasurer is responsible for monitoring. Classifying financial items as assets in, assets out, assets sitting around or payroll often helps determine what should be done and who needs to act/approve.

Assets In - contributions, gifts (e.g., Memorials, honorariums), grants, endowment/investment income, insurance receipts (if you had a loss and got paid), reimbursements, income from sale of property or fundraising events, etc.

Assets Out - bill payments, loan payments, contributions (e.g., to agencies/non-profits), assessment paid to the diocese.

Assets Sitting Around - checking accounts, endowment/investment/savings accounts, petty cash