Board of Pensions

by Carol
(SC)

Where is the money paid by the church on behalf of the pastor to the Board of Pensions shown?

Comments for Board of Pensions

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Jan 05, 2014

Board of Pensions (line on budget?)
by: Anonymous in NC

At our church for years it was shown with the other pastor's benefits. A couple of pastors back it was moved to the office section of the church expenses/other administrative cost section, and it is not as clear to readers of our financial records that way. So to answer your question, it can be placed where the financial secretary and the administrative board gives approval for it to be placed, depending on how clear one wants to be on financial reporting.

This church member's opinion (we all have one) is that financial records should be transparent for all members and outsiders to understand.

Jan 05, 2014

Comments for Board of Pensions
by: Keneb

I agree that the funds paid out for Pension can be recorded where ever the Financial Chair, who does the recording, and the Board agree is the proper place/ line item.

I have chosen with the concurrence of the Board to place all items related to our Staff's income and benefits under a main category of Salary & Benefits and have a sub-category for Salary & each Benefit.

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Join in and write your own page! It's easy to do. How? Simply click here to return to Minister's W-2.

If you want to DIY your payroll, I highly recommend you look at using Gusto! It is very user friendly and their support is awesome! Plus they know how to set up and maintain payrolls for churches and nonprofit organizations.

Note: I am a "partner" of Gusto, but as I have told you before ... I never recommend anything that we or our clients have not tried and love =)

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