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November 2011

Issue 19

 

Administration Matters addresses common, practical issues including finance, governance, risk management, tax, legal concerns and other topics of interest about day-to-day operations and management in church settings.
 

Accounting Methods -- Cash Basis and Accrual Basis
How does a congregation decide on a way to record transactions? Learn more about the advantages and disadvantages of cash vs. accrual methods of accounting. >more
Insurance class action settlement -- Charity First
The ELCA was awarded a net amount of $57,648.97 in a settlement of a class-action suit involving Charity First, former administrator of the ELCA-endorsed insurance program from 1994 through 2005. The ELCA Office of the Treasurer and Office of the Secretary are to distribute settlement proceeds to eligible congregations and synods. >more
 

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Pre-tax retirement savings opportunities
The ELCA Retirement Plan offers members additional pre-tax savings opportunities. Help your employees who have ELCA benefits achieve financial security -- encourage them to make or increase member pretax contributions to their ELCA retirement accounts. Contributions and earnings from member pretax contributions are tax-free until your employee receives retirement payments. >more
Safety and loss prevention
Safety first! An ounce of prevention is worth a pound of cure! These well-known slogans not only apply to businesses, but also are equally important to your worship facility. Awareness, preventive maintenance and effective risk management will prepare your congregation to deal with the unexpected. >more
Flexible spending accounts enrollment
The ELCA Board of Pensions offers a flexible spending account as part of the ELCA benefits program -- saving you the time and expense of being an official FSA administrator. In 2012, sponsored members with ELCA-primary coverage, Medicare-primary coverage and those waiving ELCA health coverage are eligible for the benefit. They’ll receive their 2012 FSA enrollment kits in November. >more
Congregational reports
Forms A and C are used to compile data on membership, Christian education and financial information, among other things. The resulting trend reports can be a useful tool for congregations, synods and the whole ELCA. >more

DISCLAIMER - It is important for visitors to this Web site to understand that information on this site does not constitute legal, accounting or professional advice to anyone. People should always consult their own attorneys, accountants or similar professionals whenever legal, risk management or financial issues or problems arise.

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