Regardless of the size of your church or how many people frequent there, note that preparing a church budget will always be essential. It enables the organization to prepare for what the future may bring in terms of finances. Also, remember that the right budgeting skills will keep the church’s doors open to the faithful. So if you are one of the church’s staff and are entrusted to do the budgeting, see to it that you have the right tools with you. On this page, we have compiled the best church budget templates, which are available in several formats, such as MS Word, Excel, and Google Sheets. There are different types of templates and samples made available on this website.
FREE 19+ Church Budget Samples
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18. Sample Church Budget Template
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20. Church Budget Planning Template
What Is a Church Budget?
A church budget is an essential tool for those who manage the church’s finances. It is a document detailing the church’s income, projected income, and forecasted expenses. Most importantly, this spreadsheet helps the organization prevent falling into the debt hole.
The Importance of Creating a Church Budget
“Why have a church budget?” you may ask. Have you ever experienced borrowing money from your friend, because your expenses exceeded the cash you have at hand? Well, just like in our personal lives, these organizations should manage their finances and start budgeting for a healthy church. Aside from that, here are other reasons why you should consider having a church budget proposal and a church budget spreadsheet.
- It enables you to keep track of the money that goes into and out of your organization.
- It helps protect the church ministries.
- It ensures transparency among the church members and leaders in terms of finances.
- It builds trust and eliminates skepticism regarding the church and its financial resources.
- It fosters a good relationship among those involved in the organization.
How Do You Create a Budget for a Church?
When budgeting for your organization, downloading a church budget template will make the process a whole lot easier for you. Professionally designed templates already contain a list of the church budget categories, so all you have to do is to input the figures. However, if you want to learn the process from start to finish, we have listed down the steps on how to create a church budget and some church budgeting tips you may need.
1. Audit Sources of Income
Although making use of budget software for churches will get the job done for you, it may be hard to find the best software that will best suit your needs. Nevertheless, utilizing a church budget template in Excel will help you accomplish the task quickly. Presuming that you’ve already launched an application to use where you will record your financial activities, the first thing you have to do is to take a look at your past income and determine where your money comes from. It may include donations, facility rentals, and investments.
2. Determine Projected Income
As you take a look at your church’s historical financial statements, try to identify if there is an upward or downward trend in the organization’s revenue. Doing so enables you to have a more accurate projection of your income.
3. List Expenses
For this step, you may also want to check your past expenses to remind you of the things you may overlook. Aside from the funding of church-related activities, bear in mind that you still have to pay for the building’s maintenance, taxes (if applicable), debt, and your staff’s salary.
4. Compare the Figures
Now that you have estimated your future income and list down possible expenses, it is time to compare the figures. Just like in a church income and expense statement template, you need to have a table with columns dedicated to the income and expenses. Remember that your expenditures should not be more than your income, or else you will end up having a negative balance. One tip to successfully manage your finances is to overestimate your expenses and underestimate your income.
5. Adjust When Necessary
After completing your document, make sure that you give the people involved a copy of the church budget. This way, they can raise their suggestions on how to increase income and decrease expenses. Moreover, it is equally important to monitor your finances.
What is meant by budget?
A budget is an individual or an organization’s plan as to where they will allocate their finances for a specific period. In accounting, it is a formal statement that contains the list of estimated income and expenses of a company.
What are the three types of budgets?
The three types of government budgets are as follows:
- Balanced Budget – There will only be a balanced budget if the forecasted expenditure equates with the actual amount.
- Surplus Budget – As the name suggests, a budget is a surplus if there is an excess in the revenue.
- Deficit Budget – A deficit budget is when the expenses are exceeding the revenue or income.
What is the average salary of a pastor at a small church?
According to Indeed.com, the average salary for pastors in the United States would amount to $40 992 per year.
Churches have always been the religious’ place of praise and worship. Since the building of what archaeologists believed as the first Christian church during 230 AD, there are now over 2 billion Christians in the world. Muslims then follow with 1.8 billion believers of Islam. These people play a crucial role in keeping their respective churches running through the ages. Most of the believers make offerings or donate to churches, which would ultimately help the church fund their religious activities. However, having enough finances is not true to all churches. So, how do they manage to fit their financial resources with their current needs? Budgeting.
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