Basic Checklist for Church Treasurers

RECEIVING GIFTS

  • offerings counted and deposited*
  • gifts recorded to ledger
    • general funds - loose and receipted
    • designated funds - loose and receipted
  • receipts balanced to ledger
    • general
    • designated

DISBURSING FUNDS

  • bills paid as authorized
    • by budget
    • by specific instruction from church
  • designated funds reconciled and disbursed as specified
  • payroll
  • CRA remittance (CP/EI/tax withheld)

REPORTING

  • Revenue and Expense Statement (monthly)
    • comprehensive and informative
  • Designated Funds Statement (monthly)
    • comprehensive and informative
  • Bank Reconciliation (monthly)
  • Official Donation Receipts (annually)
    • totals balance to ledger
    • prepared, signed and distributed
  • T4's issued (annually by end of February)
  • new T1223 Clergy Residence Deduction form completed (annually)
  • Annual Return T3010a completed
    • deadline for completion is 6 months after fiscal year end

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