WAYS TO GIVE TO CABC
•Check and cash are accepted each week during the worship service or Bible study.
•Electronic checks from on-line bill pay providers are accepted and processed like checks.
•EGIVING is available on our web site using ACH for processing. You may enter a one-time gift or setup a recurring amount to deduct from your checking account for your convenience.
•Stock donations are accepted and can be transferred to our account. We have accounts established with several well known financial firms such as Merrill Lynch and UBS. Regardless of where your stock is held, it can be electronically transferred to the church. Our policy is to sell stock donations upon receipt. Please call the church office for further questions on how to donate stocks.
•Bill Pay is another popular method through your local bank. You can have your bill pay provider send a paper check directly to CABC.
CONTRIBUTIONS TO CABC
All contributions you make to CABC are recorded in the financial books. We use software designed especially for church accounting called Shelby Systems. Fund accounting is the method we use for recording all contributions whose use may be temporarily restricted and limited by donors. Examples would be Building Fund, Benevolence Fund, and Mission Fund.
By using a fund accounting system it allows the church to separate contributions to the general budget fund from restricted funds to be used later for specific purposes as mentioned above. It also gives an audit trail to ensure those dollars are spent for the intended purpose.
CABC uses an outside CPA firm to audit the books on an annual basis while adhering to Generally Accepted Procedures (GAP) in all aspects of our accounting system. Audit reports and management letters are presented to the Finance Committee and staff for review and implementation.
The Finance Committee reviews monthly financial reports presented by the Administrative Pastor each month and approves those for presentation to the congregation at regular Business Meetings held monthly.
All contributions are held in strict confidence and not published in detail. Contribution statements are mailed to individual donors in July and Jan each year for tax purposes.
We have a Finance Committee comprised of church leaders and Staff members that meet monthly to review the financial reports of the church. One of the primary functions of the Committee is to oversee the preparation of an annual budget which they approve and present to both the Deacon and Staff for final approval. Financial Statements are prepared on a monthly basis and reviewed at the Committee meetings. At the end of the year, an independent audit of our financial records is done by an outside CPA firm.
Full financial reports are not published but are available for review at any time by church members by appointment with the Administrative Pastor.
Unless specifically noted otherwise, all contributions are deposited into the general fund for on going operations and budget expenditures. Our 2009/2010 annual budget incorporates 9 major categories to allocate expenditures.
Properties, Administration, Personnel, Education, Worship/Music, Recreation, Missions, Evangelism, Reserve
Donations made to the Building Fund go directly to reducing our mortgage debt. Any gifts over and above the monthly loan note required is paid in addition and applied to the principle.