This is the time of year when many congregations hold their annual meetings and elect new officers and leadership. What are the elements of a smooth transition to a new financial leader of your congregation? From bank signatures, usernames and logins to folders, computer files, personnel files and insurance, here is a list to guide you through the transition. Some tasks are immediate (changing authorized banking signatures), while others may be a part of a long-term financial organization project.
- Document election of new officers in official minutes
- Change Bank Account signatures and online banking access for every account
- Transfer Bookkeeping and Contributions software files, usernames and passwords
- Collect Payroll Records, including IRS and state filings, usernames, and passwords
- File change of responsible party with IRS Form 8822-B, and complete any required state notification
- Verify liability insurance coverage, including bonding for Treasurers, staff, and volunteers
A full list is available for subscribers here.