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Every organization, including the churches, needs a formal financial statement that records all of their financial activities. It will help them understand where do they need to cut down their costs to increase revenue. However, it is difficult for everyone to create a detailed financial report, especially in the church. It requires a long process of preparation and calculation to come up with the right results. Luckily, you can now make one with the help of our downloadable church financial report templates, which are very easy to edit and customize to fit your requirements and needs perfectly. Continue reading this article to learn more.

FREE 10+ Church Financial Report Samples

1. Church Financial Report Template

2. Church Report Template

3. Financial Report Template

4. Sample Financial Report Template

5. Free Church Expense Report Template

6. Church Audited Financial Statement

7. Church Annual Financial Report

8. Sample Church Annual Report

9. Annual Report and Financial Statement

10. Sample Church Annual Financial Report

11. Church Annual Report Format

What Is a Church Financial Report?

Like any other organization, churches also have financial operations. Carefully structured financial statements are best suited to all businesses, which include churches and other non-profit institutions. Financial reports are findings that reflect the financial condition of an organization. Adequate financial data is presented in a structured way and in a manner that is easily understood by others. The church’s financial reports are the representation of the church’s financial related choices. Financial reporting generates information on the financial position, productivity, and changes in the church. It helps the church to make suitable economic decisions.

How to Write a Church Financial Report?

It is crucial as a church leader to know the right financial information to understand your church’s financial status well. That is why you have to take note and keep in mind all the necessary things to include in your financial statements or reports. While there are two financial reports that most businesses and organizations can get by, there are four valuable church financial reports that every church needs to use. Here’s how to write these reports:

1. The Statement of Financial Position (SOP)

The statement of financial position is the equivalent of the balance sheet to those profitable organizations. This kind of financial report illustrates an accounting equation and shows a picture of your church’s financial status. It can also show the exact balance of your church’s funds. It will be possible only if you have been doing accurate fund accounting. The right accounting equation to get the SOP is Assets= Liability + Equity. A simple example to demonstrate this equation is by saying things you own, added to what you owe, equal your overall value. When you look at this report, it will probably show you if your church owes more than it owns.

2. The Statement of Activities

The statement of activities is the income statement equivalent to profitable institutions. The right equation to get its total amount is Income-Expense= Net Income (Increase in Net Assets). A simple illustration of this equation is that the money you get subtracted from the money you spend equals your net income. Your net income is the increase in net assets for your church. When viewing this report, it will immediately show whether your church receives more than it spends. If your church’s net income is negative, this means that you should make an effort to increase your donation or find ways to cut costs.

3. The Statement of Functional Expenses

One of the most critical church financial reports is the statement of functional expenses. It is the report where the real fund accounting starts. Not only does this report show how much money you have spent, but it also breaks down every expense by fund and category. It would also display the overall admin expenses of your entire church. You can easily create these kinds of financial reports, especially if you will affiliate them with charts with accurate data.

4. The Statement of Cash Flow

The statement of cash flow is where you can see how your funds do and where it goes. Being able to know how your funds do and how to spend them is very useful and helpful. You can see your funds’ status by tracking the starting balance, revenue, expenditures, and total funding balance. It will serve as the summary of the overall transactions of your funds.

FAQs

Creating an efficient financial report is inevitably challenging. If you are looking for a template that can help you make such reports, you can use our downloadable church financial report templates. It is already available for you. Download it to get started.