Budgeting is important for any church as it allows you to see where your money is and where it should go. It builds up ministries. It supports causes. It can be a forerunner in making a difference for the kingdom. Since having a church budget is so vital, we’ve gathered the top 10 budgeting tips along with key questions and statements to consider before your next budget meeting.
Start with Prayer
Ask for wisdom and clarity when setting your next church budget.
Make a list of accountants, financial advisors, or other financially savvy individuals in your church. Ask them to join you in the budget process.
Address with Your Debt
What debt does your church currently owe?
How quickly are you progressing with eliminating that debt?
Determine Where You Currently Stand
What are your current expenses?
What is your current monthly revenue?
What is your monthly cash flow?
Examine Last Year’s Goals and Objectives
Did you achieve these goals and objectives financially?
What could you have done differently to make a bigger impact?
Estimate Your Future Budget
What is your projected income?
What are your projected expenses?
Set Goals and Objectives
What are your goals and objectives for the upcoming year?
Rank your ministries from most impactful to least impactful.
Monitor Your Progress
Evaluate your budget monthly.
Check in on the various ministries receiving funds from your budget to make sure they have what they need.
Keep the Big Picture in Mind
Don’t get so focused on making a budget that you forget there are things that pop up randomly that will not be budgeted for but will make a huge impact for the kingdom. Rely on the wisdom God is giving you through scripture and through your financial advisors so that your church can serve God to the best of your abilities.
End with Prayer
Ask God to continue moving in your church financially.
Ask God for wisdom to continue to be a good steward of what He has given your church.
To learn more about how to track all these budgeting tips in your church management software, check out how Elexio integrates with church accounting software. We have a free trial that’s easy to use and user-friendly so matter who is in charge of your next budget, they will be equipped with the best resources.