Keep track of your church’s equipment and property – how and why

(cross-posted from my other blog, Nonprofit Update.)

A local church should keep track of its equipment, improvements to property, and building.

You will definitely need that information if you have an audit, review, or compilation of your financial statements.

A far more common reason to accumulate that information is for insurance purposes. In the event of a tragedy such as earthquake, tornado, or hurricane, you will need to have some detail records to present to you insurance company to get full recovery for your loss.

Delton de Armas has a good background post at Faith-Based Accounting, titled Making a List and Checking it Twice (Unsolicited Accounting Advice from Santa Claus).

The post gives several ideas on how to maintain the detailed inventory of property and equipment.  Check out the article.

One great suggestion – make a video recording of the property. Slowly scan the rooms on campus to show what equipment and furnishings are around.  This would also show the condition of the property.  Store the tape off-site.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: