by Jac La Tour
Question: What is one way to make it easier for someone to cover up fraudulent activity with your church’s finances?
Answer: Create too many church bank accounts.
According to a recent Managing Your Church blog by Matt Branaugh, this is one of five reasons church treasurers should keep accounts to a minimum. In Q&A: Limit the Number of Church Bank Accounts, Branaugh writes that “conventional wisdom in the church finance world is for churches to limit the number of bank accounts the church uses. Ideally, a church should use only one or two.”
The five reasons underscore the importance of accountability and internal controls.
Does your church limit the number of bank accounts? Why or why not?