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Budgeting for New Congregations The Five Laws of Financial Sanity

Budgeting for New Congregations The Five Laws of Financial Sanity. Wolfgang D. Herz-Lane Mission Director Delaware-Maryland & Metro Washington DC Synods. Mission Developer Training Conference, Chicago IL February 14, 2008. 1. Have One!!.

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Budgeting for New Congregations The Five Laws of Financial Sanity

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  1. Budgeting for New CongregationsThe Five Laws of Financial Sanity Wolfgang D. Herz-Lane Mission Director Delaware-Maryland & Metro Washington DC Synods Mission Developer Training Conference, Chicago IL February 14, 2008

  2. 1. Have One!! • Budgets are guides for developer, treasurer and finance team • Budgets are management tools • Budgets build leadership and ownership of ministry • Caution: People give to mission, not to the budget!

  3. 2. Show ALL Income & Expense • Always include an income budget • Show income from all sources (synod grant, EOCM grant, EOCM salary payments) • Anticipate Mission Partners gifts • Include Mission Support to Synod (15%+) • Budget for local benevolences • Include salary reimbursements to EOCM • Show reserves and savings to capital fund

  4. 3. Keep It Simple! • Show major budget categories, not every single expense • Use an annualized budget or a program year budget that makes sense • Caution: If you use computer software, beware of the TMI Syndrome! • Run a separate capital budget

  5. 4. Change Is Good! • Don’t be afraid to change the budget to incorporate new realities. After all, it’s just a piece of paper. • Budget is a tool … sharpen it when needed! • Always keep your leadership in the loop

  6. 5. Budgeting 2.0: A Programmatic Budget • Showing expenses by cost centers • Allocating staffing and overhead costs to cost centers • Read pp. 73 – 80 in Mission Developer Training Manual, Volume III

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