Annual Financial Report - When should you give it out?

My husband and I are the Youth Pastor's at our church and we just had our Annual Review meeting for our church (Febuary 2010). We were given the Annual Financial Report for 2008 (not 2009). The lady handling our books advised us that legally she cannot give out the 2009 report until next February.

It didn't make sense that we would have to wait 2 years to see an annual review. I have never encountered this in any other church either.

In the past we always received the prior year’s report and we were allowed to take home a copy. However, she made us turn the papers back in and would not allow us to have a copy.

This just seemed a little off. Can you advise as to when we should be receiving the previous year’s report and if we are allowed to keep a copy?

Thank you.

Answer

I have never heard of any law that would prevent you from giving out an annual review until 2 years later. I am not saying she is wrong...just that I have never heard of it before.

I do my church's annual review in Feb. or March of the following year.

As far as not letting you keep your copy...maybe she was worried about confidentiality. Just guessing???

I would feel very uncomfortable with her method myself. Do you have internal controls in place?

Have you spoken to the pastor and the board about your concerns?

You could consult a CPA regarding her methods to be completely sure. Also...it might be good to have an external audit done by a CPA.



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