ACAT is delighted to announce that places can now be booked on our first ever online training sessions.
Our popular Being a Treasurer: The Basics will become the first course to be available via webinar from September 12.
Limited places are now available and treasurers are asked to book times and dates convenient for them at the earliest opportunity.
ACAT has split the course – which is equally relevant to new and experienced treasurers – into three two hour-long sessions.
We’re advising treasurers to book all three sessions to ensure that they’re appraised of the entire course.
Each session – costing just £10 – will be led by ACAT’s highly experienced trainer, Manny Kemp.
The first Being a Treasurer: The Basics session will cover charity law and the role of trustees and the bookkeeping and finance processes in a church.
This first session be available on:
Saturday, September 12 – between 10am and 12noon
Saturday, September 12 – between 2pm and 4pm
Tuesday, September 15 – between 6pm and 8pm
The second Being a Treasurer: The Basics session will cover the topics of budgeting, risk and Gift Aid.
Delegates will learn about the planning activities of budgeting and risk management, and Gift Aid and other tax subjects
The second session will be available on:
Saturday, September 19 – between 10am and 12noon
Saturday, September 19 – between 2pm and 4pm
Tuesday, September 22 – between 6pm and 8pm
The third Being a Treasurer: The Basics session will delve into the topic of year-end reporting.
It will cover the year-end reporting and independent examination routines required by law.
This third session will take place on:
Saturday, September 26 – between 10am and 12noon
Saturday, September 26 – between 2pm and 4pm
Tuesday, September 29 – between 6pm and 8pm
ACAT Executive Officer Ashley Ellis said: “We’ve listened to feedback from ACAT members and are now launching our Basics course online for the first time.
“It will enable church treasurers to train in the comfort of their own home or office regardless of where they live in the country.
“Once a booking has been made, a member of ACAT’s team will be in touch with details of how to log-in.”
The training will be provided by Zoom.
If delegates don’t have an existing Zoom account, you will be prompted to download the free software once you’ve clicked on the link that we’ll provide you with.
Ashley adds: “I’d like to take this opportunity to thank Manny Kemp for his outstanding work developing these sessions in conjunction with ACAT’s team.
“We hope to launch even more online courses in the near future.”
To book a session either click on the dates above or go to ACAT’s training page here.
ACAT is urging church treasurers to book places for our 2020 Virtual Conference “at the earliest opportunity” to avoid disappointment following the great success of our first online courses.
These online courses are now practically fully booked – a little over a fortnight after they were launched.
ACAT’s Executive Officer Ashley Ellis is calling on members to book places on those webinars that form part of this year’s conference, entitled: “The Challenge of Change – Securing Your Church’s Financial Future” as early as possible due to limited spaces being available.
The event will take place entirely online between Monday, October 5, and Thursday, October 15.
Ashley explained: “The entire ACAT team has been absolutely delighted that so many of you have booked a place on our first ever online training courses.
“We’re now asking you to book your places at this year’s virtual conference at the earliest opportunity to avoid disappointment, as we’re only able to make limited places available.
“We’ve arranged for a host of truly outstanding speakers from the worlds of faith, finance, law and digital to lend church treasurers their expertise – and we don’t want you to miss out.”
The events which form part of this year’s conference are:
Monday, October 5, 2020 at 7.30pm – The Ecumenical Council for Corporate Responsibility (ECCR): “Money Makes Change – How do we connect our faith and finances to create a fairer, more sustainable world?“ Tuesday, October 6, 2020 at 7.30pm – Diocese of York Generous Giving Team: “Communication – Top Tips for Encouraging Generosity.” Wednesday, October 7, 2020 at 7.30pm – The Association of Charity Independent Examiners (ACIE): “Independent Examination – The Independent Examiner Calls” Thursday, October 8, 2020 at 4pm – easyfundraising: “A guide to generating free income online using easyfundraising” Thursday, October 8, 2020 at 7.30pm – Giving in Grace: “The Heart and the How of a Stewardship Programme” Monday, October 12, 2020 at 7.30pm – CCLA: “Investing, before during and after a pandemic – CCLA’s Response to Covid-19” Tuesday, October 13, 2020 at 7.30pm – The Charity Commission: “Treasurers – Making a Difference“ Wednesday, October 14, 2020 at 7.30pm – Data Developments: “Re-defining accounts and giving in a digital world” Thursday, October 15, 2020 at 4pm – Creative Stream: “WWW: Which Websites Work – A snapshot of what works for Churches today“ Thursday, October 15, 2020 at 7.30pm – Anthony Collins: “Employment Law, the Treasurer and the post-pandemic environment“ To discover more – or to book places – please click on the above links. Alternatively, if you wish to book all 10 webinars at the reduced price of £75 please click here.ACAT is truly delighted that CCLA has returned as our headline sponsor for this year’s conference. CCLA is the UK’s leading fund manager for Christian churches and charities with 60 years’ experience providing competitive and attractive investment management services.”
SEVERAL chapters of ACAT’s handbook have been updated to ensure that church treasurers of all denominations remain fully briefed.
The handbook is written to provide guidance for treasurers and others concerned with the financial and legislative affairs of their church, on a wide range of financial matters.
The updating has been overseen by ACAT’s Treasurer Greyham Dawes.
The new chapters include:
– Chapter Six: Basic Accruals Accounts
– Chapter Nine: Reserves
– Chapter Ten: Annual Report
– Chapter Eleven: Independent Examination
– Chapter Twenty Five: Charities in Scotland
ACAT Executive Officer Ashley Ellis said: “We recognise that our Handbook is a truly essential resource for members and we’re constantly checking to ensure that it is as up to date as possible.
“I’d like to take this opportunity to thank Greyham for his outstanding work on this project.
“Earlier this year, we also worked with data protection specialist Kate Grimley Evans to update Chapter 21 on Data Protection.
“We will always let you know when these updates occur.”
The Handbook section on ACAT’s website – which is only accessible to members – can be accessed by clicking HERE.
Whilst Environmental, Social and Governance (ESG) considerations have become part of the established lexicon in the corporate world, it’s only relatively recently they have been discussed by charities. Against a backdrop of increased scrutiny by the public and the media, a greater acknowledgement of reputational risk, and pressure from stakeholders for charities to live by their values, there is a renewed focus on ESG investing in the third sector.
Charities and churches consider doing the right thing and making a difference to be at the core of their purpose. The social strand of ESG is central to what they do every day. Several charities pursue ethical investing, for instance, choosing not to invest in companies where their activities conflict with the charity’s values, without even acknowledging it as an investment strategy. Charities and churches alike are becoming more aware of the role they want to play in preventing any further damage to the environment. This means taking steps to avoid certain investments and considering how they can have a positive impact on people and the planet. Trustees and church leaders recognise a need to balance this with their duty to manage their charity’s resources with care, skill, and prudence.
The legal aspects of charities adopting ESG-focused investment policies are complex and centred around the 1992 Bishop of Oxford case. This case was perceived to have established a false distinction between responsible investment and financial return, but a landmark ruling on 29 April 2022 has changed the landscape. It approved the proposed investment policies of two charitable trusts which were designed specifically to align with the goals of the Paris Climate Agreement, even where this involves financial risk by excluding investments in a large part of the market. This judgement effectively clarified that trustees can prioritise ESG credentials over financial returns. The Charity Commission is due to publish updated guidance on this matter in the near future.
At the Charities Aid Foundation (CAF), we recognise that ESG issues are critical to the charities and communities we serve. Our aim is to ensure that charities and social purpose enterprises have a choice of financial services that meet their needs. Through CAF’s subsidiary, CAF Financial Solutions Limited (CFSL), we offer access to an investment service designed specifically for UK-based charities and not-for-profit organisations. CFSL has recently launched a new range of ESG-focused funds in partnership with global investment firm abrdn and Investment Fund Services Limited (IFSL).
Neil Poynton, Head of Charities, Charities Aid Foundation, explains
“The launch of these funds reflects our commitment to helping our clients achieve their social and sustainable objectives. Hard work has gone into making sure this group of products meets the requirements of the charity sector. This means balancing the sometimes competing needs for robust investment returns, cost efficiency and investing integrity. Charities are at the heart of what we do, so we wanted to make sure we got these products right. These new funds align with CAF’s wider purpose: to accelerate progress in society towards a fair and sustainable future for all.”
Find out more about the IFSL CAF ESG Fund range at www.abrdn.com/ifsl-caf-esg
Liberty Accounts has launched a new tool called ‘Prepayments Scheduler’ which is intended to make the lives of church treasurers even more straightforward.
The company – which is one of ACAT’s Partners in Ministry – provides cloud accounting and payroll software and specialises in supporting the not-for-profit sector.
Its software has been designed to address the specific recording and reporting requirements of charities and faith-based organisations.
Neil Chadwick, director of Liberty Accounts, said: “We are continually looking to help improve user productivity and to simplify tasks that, for some, can seem daunting.
“Consequently, we’ve just released our ‘Prepayments Scheduler’.
“Using the feature, users can schedule their income/expenditure transactions – like local council bills – over a number of months and the system will then do the hard work of analysing the prepayment/accrual for you and apply the income/expenditure to the accounts based on the scheduling.”
Liberty Accounts’ software simplifies the accounting process by providing tools to automate processes and make the user more productive.
A small sample of the tools it makes available are:
– Integrated payroll – automate the submission of payroll RTI to HMRC; emailing of payslips to employees, updating of the accounts;
– Fixed asset ledger – automated depreciation calculation monthly or annually on assets held;
– Bank import – quickly and easily process transactions and set rules for recurring ones.
Liberty Accounts is offering ACAT’s members a FREE TRIAL by clicking HERE. Alternatively, email Liberty Accounts on sales@libertyaccounts.com for a no obligation demonstration.
At whatever point your church has reached in its financial year, a fundamental issue should be in the minds of the governing body. For most, if not all churches, the demands made upon them from the various internal activities and missional requirements will exceed the resources available.
This begs the question, to what extent are the available resources being used as effectively as they should? The underlying issue, which trustees frequently forget is that the charitable status of their churches requires them to be managed in a businesslike manner.
For business-like read efficiently and effectively. The use of the word “business” in a church context can be controversial. However, the importance of good management within our churches should be a priority. In this respect, borrowing a phrase from St Paul, we should always “strive for excellence.”
The brief article seeks to question whether the resources which are available within our various churches, irrespective of size, are working as effectively as perhaps they could.
The first question to ask is what are the priorities of your church and the resources needed to support them? All churches should have a plan, however simple, identifying its priority present and future objectives, and how it is proposed to achieve them.
Larger churches with a more vibrant membership may have a more detailed strategic vision embracing development and growth in addition to missional objectives for the local community and beyond.
These priorities may be as uncomplicated as being to:
The resources available will probably fall into several obvious categories. Financial, People, Suppliers, Buildings. The effective use of these resources will depend on the needs of the church.
The internal needs of your church may be summarised as those which enable it to continue as a place of worship, encouraging, and growing its membership.
These could be viewed in very simple terms as being to fulfil the “great commission” “Therefore go and make disciples of all nations, baptizing them in the name of the Father and of the Son and of the Holy Spirit,” Matt 28:19. As I’m sure we are all too aware, the expectations of our churches in the twenty first century by a secular society are perhaps not as high as they once were. That is not to say that the expectations aren’t there.
It’s not always easy to evaluate the effectiveness of the resources which a church has at its disposal. At one level judgements might be purely subjective. One person’s view may be very different to that of another.
A central theme of the parable of the talents in Matthew 25 is that the skills (or resources) God gives us, prayerfully used, can and should yield substantial results. In fact, there is a divine expectation that such resources are used for the mission and ministry of our churches. How else will we see growth and development?
Effective use of church resources could be demonstrated as noted in Acts 2:47, that the church was added to daily.
Evaluating the effective use of our resources, can be a challenge. A few thoughts,
The Church is arguably not very good at “telling the story.” We live in a digital, media focused world. It has never been easier to demonstrate our churches are committed to transforming our communities, by who we are and what we offer.
A church, seeking to use all the God given resources it has, should have a story to tell.
The secular world is all too aware of the benefits of advertising and promotion of products and services. There is no suggestion that promoting the Christian gospel and the work of our churches is to be equated with adverts for electric cars or fabric conditioners.
However, the early church provides an excellent example. Acts and the Epistles are evidence that the Church flourished because it built up its members spiritually and was totally committed to the transformation of the communities where it was located and beyond.
First-century Christians were not afraid to tell the known world the “Good News” and in so doing the church grew. Two thousand years on we have untold resources to continue that work. How effectively are we using them?
This article was kindly written for us by Kingdom Bank.
For many church treasurers and trustees, securing funding for church projects can be one of the most challenging aspects of ministry. Whether it’s acquiring a new building, renovating an existing space, or expanding ministry outreach, raising finances can often feel like a burden—and let’s face it, us Brits hate asking for money. Even when it’s for a good cause like gospel ministry.
So how can churches think more creatively about their funding needs? The good news is that there is another way, but it requires a mindset shift.
Relationships not fundraising
I remember, many years ago, I met a chap called Jerry Twombly. Jerry was a dear Christian brother and an experienced fundraiser. He challenged me to move away from thinking about ‘fundraising’ and to think instead about relationship development. He shared three important lessons:
Lead with vision
Your ‘mission’ is what you do. It appeals to the intellect, providing necessary information. But ‘vision’ speaks to the heart and is far more compelling. Vision is about painting a picture of what the world will look like when your mission is successful.
For example, at Kingdom Bank, our mission is to provide financial services for churches, Christian charities, and ministry workers. But our vision is to help churches secure a gospel witness in their local communities for generations to come by enabling them to own their own, permanent home. Which one sounds more exciting?
Go on dates
People may not be willing to set up a regular monthly gift the first time they hear about you. They may want to travel with you for a bit first. As my dear friend Jerry Twombly would say, ‘you’ve got to take them out on a few dates before they agree to ‘go steady’ (he was American).
What does that look like for you? Ask them to sign up for a newsletter, join the Facebook or WhatsApp group. Or better yet, invite them to an event—a vision evening dinner, or a vision-casting prayer event. Whatever you do, provide food! Fill their hearts with a vision for what could be. And, fill their bellies with some treats. It doesn’t have to be a three-course dinner, but sweet treats at vision-casting events are like motherhood and apple pie—everyone loves them. Remember, ‘the Son of Man came eating and drinking’ (Luke 7:34), so don’t be a bad host.
Make the ask
Churches have historically relied on tithes and offerings to support their financial needs. While these remain essential, a broader perspective on funding can unlock new opportunities:
Partnering with a bank that shares your vision
One of the biggest hurdles churches face when seeking funding is the reluctance of mainstream banks to provide support. Many churches struggle to secure mortgages or loans due to financial models that don’t fit conventional banking criteria.
This is where Kingdom Bank stands apart. We specialise in providing tailored mortgage solutions designed specifically for churches, Christian charities and ministry workers. With a deep understanding of church finances and a shared commitment to the gospel, we offer:
Thinking Differently About Stewardship
In 2020, Kingdom Bank lent £5 million to churches, charities, and ministry workers. By 2024, that figure has grown to over £26 million.
This demand for lending is being driven by:
Our pledge to savers
To meet this demand, we need more savings customers—both Christian organisations and individuals —to partner with us and help strengthen and secure gospel witness in local communities for generations to come.
When our customers deposit with us, they are not just earning a return but are actively participating in gospel growth. Here are some reasons we’re different to other banks:
To find out more about how Kingdom Bank can support your church, visit www.kingdom.bank or get in touch with our team today.
Pod Bhogal
Chief Market Officer, Kingdom Bank
This article was kindly written for us by Kingdom Bank.
Being a key decision maker in wisely stewarding your church’s reserves is a great responsibility. Whether you have a few hundred pounds or tens of thousands, your role is most likely to assist your fellow elders or trustees in shaping a policy which demonstrates that you’ve given the matter appropriate, careful thought. We asked the head of the Kingdom Bank savings team, Garry Chulan, for his two-step advice on how to make wise decisions about the use of your church’s finances...
Whatever your church funds currently look like, having a cash deposits policy is really important.
At times a church will have more money than it needs simply to run its day-to-day activities, for example when it receives a legacy.
So, even if you currently feel you’re just living hand-to-mouth, it’s good stewardship to be prepared.
Step 1 – Plan ahead…
Having ‘a policy’ sounds very formal, but in reality simply means having a plan which sets out what you will do in different situations. For most churches this is quite simple, for example:
So, for a church with annual expenditure of £60,000, you might expect to have a base reserves level of £12,000, a reserves policy threshold of £30,000, and so running reserves of £18,000.
The numbers above are indicative and you should determine your own thresholds. You may also want the policy to cover ‘project reserves’ – money set aside, often in a restricted fund, for a specific, future project such as building development.
Step 2: Consider Access, Interest, Risk and Ethics
Having broken down your cash reserves into their constituent elements, you now need to consider your priorities for where these reserves should be kept.
Balancing Access and Interest
Cash accessibility is vitally important for day-to-day running of the church, and this is almost always achieved via the church’s current account, typically with a high street bank.
No notice will be required to pay bills, but it’s unlikely that you will receive any interest.
You will need your base level reserves in this current account, but leaving your running reserves and excess reserves in an account providing no interest is not great stewardship.
By tying up your funds in an account with a longer notice period, you are enabling a bank to use that money for other purposes and so, in return, the bank will pay you interest.
You clearly need to consider how much notice you might need to withdraw the funds.
Typically, you might decide that you can tie up the church’s running reserves with a notice period of a month, and your excess reserves with a notice period of three months.
For this reason, at Kingdom Bank we offer a ‘Gospel Partner’ account with 32 days’ notice and a ‘Church & Charity Reserve’ account with 90 days’ notice.
Each is designed to receive money from and return money to your regular bank current account.
For your project reserves you may be in a position to tie up the funds for longer – at Kingdom Bank we find that churches often use our ‘Church & Charity Reserve’ account or a ‘Savings Bond’ – our bonds have fixed terms of 6, 12, 24 or 36 months.
Risk
Most UK churches do not need to be overly concerned about the risk of holding cash in a bank.
The Financial Services Compensation Scheme (‘FSCS’) guarantees deposits for individuals and small organisations up to £85k each, paying out should the bank fail.
However, if you have more than £85k in a single bank, you should consider reducing your risk exposure by spreading the cash to other banks, benefitting from the guarantee provided on each account.
Some churches with long-term substantial reserves consider non-cash investments, however this enters a whole different area of risk and should be given careful thought.
Ethics
Finally, as a decision maker with regards to funds, you will need to consider the ethics of the institution holding your money.
Much has been written over the past few years on the ethics of various banks, and at the heart of this is where a bank will invest the cash you place with them on deposit.
This is often neglected by churches, and a number of treasurers have been caught out by challenges raised by astute members at the annual church meeting!
The Bible speaks of wisdom and generosity when stewarding finances, and at Kingdom Bank the concept of ethical banking and gospel partnership is at the heart of our vision.
The vast majority of the money placed with us provides churches and Christian ministers with mortgages for property projects.
Our aim is to be facilitating gospel partnership as the deposits entrusted to us help churches grow and develop at the heart of their communities.
Indeed, we’re so committed to this concept that our Gospel Partner account explicitly sets out to offer a slightly lower interest rate than similar notice accounts in order that we can lend as affordably as we can to local churches, helping them plant, refurbish and provide housing for their ministers.
For more information about Kingdom Bank’s deposit accounts click HERE.
Are you looking for a guide through the minefield that is being a church treasurer?
Navigate the complexities of being a church treasurer with confidence through our comprehensive three-session course covering legal duties, financial processes, budgeting, gift aid, and more – all presented by experienced trainers in a live Zoom webinar setting tailored for both new and seasoned treasurers.
Session one is entitled: “Charity Law, Finance Processes and Bookkeeping” and covers the following topics:
Please note: this is the first session in a series of three. ACAT strongly advises delegates to book sessions 1, 2 and 3 to ensure that they’re appraised of the entire course.
This course is designed for all those who are church treasurers whether new to the role or just needing a refresher. It is also for those who support church treasurers and would like to know what is involved.
As a church treasurer, this course will equip you, whether you are a new or an experience treasurer, with the core knowledge needed to carry out your role.
By the end of this course (all three sessions), you will have been introduced to, and explored, the legal duties of trustees, day to day finance processes, budgeting and planning, gift aid and tax and year end reporting. You will be signposted to helpful resources and you will have had the opportunity to ask questions relevant to your context and about the areas covered.
The course comprises practical and theoretical information, insights and guidance on many aspects of the role of church treasurer. It is delivered by knowledgeable and experienced trainers, who have firsthand experience as church treasurers. They can answer your questions and concerns, enabling you to manage your church finances with greater confidence.
The course is typically delivered through a live Zoom webinar. You’ll have the opportunity to interact with the speakers and get answers to your specific questions. Each delegate will be sent pre-course materials in advance of the sessions.
No prior knowledge is required. This course is designed to accommodate individuals with various levels of knowledge of church finance. It may be helpful to have some knowledge of the financial arrangements and processes in your own context.
