Church Auditing Department Report, 2017
Open talk in Gospel LibraryContents
Before Reading
Before reading or listening to the talk, consider the following questions:
- What is the role of the Council on the Disposition of the Tithes?
- How does Church Auditing ensure the proper use of Church funds?
- What principles of financial management does the Church follow?
Topics
Authorizing Expenditure of Church Funds
The Council on the Disposition of the Tithes, composed of the First Presidency, the Quorum of the Twelve Apostles, and the Presiding Bishopric, is responsible for authorizing the expenditure of Church funds. This process is guided by revelation and ensures that funds are used appropriately and in accordance with Church priorities.
As directed by revelation in section 120 of the Doctrine and Covenants, the Council on the Disposition of the Tithes—composed of the First Presidency, the Quorum of the Twelve Apostles, and the Presiding Bishopric—authorizes the expenditure of Church funds.
- Who composes the Council on the Disposition of the Tithes?
- What guides the Council in authorizing the expenditure of Church funds?
- How can understanding the role of the Council on the Disposition of the Tithes increase your trust in the Church's financial management?
- What can you do to ensure your personal finances align with principles of revelation and wise stewardship?
Ensuring Financial Accountability
Church Auditing, an independent body of credentialed professionals, is tasked with performing audits to provide reasonable assurance regarding contributions, expenditures, and the safeguarding of Church assets. This independence ensures objective and thorough reviews of financial practices.
Church Auditing, which consists of credentialed professionals and is independent of all other Church departments, has responsibility to perform audits for the purpose of providing reasonable assurance regarding contributions received, expenditures made, and safeguarding of Church assets.
- What is the primary responsibility of Church Auditing?
- Why is it important for Church Auditing to be independent of other Church departments?
- In what ways can you apply principles of accountability and transparency in your own financial practices?
- How does knowing about the Church's auditing processes affect your perception of Church leadership and financial management?
Audit Findings and Financial Practices
The audit findings for the year 2017 indicate that Church contributions, expenditures, and assets have been managed in accordance with approved budgets, policies, and accounting practices. The Church's financial practices reflect the principles taught to its members, such as living within a budget, avoiding debt, and saving for future needs.
Based upon audits performed, Church Auditing is of the opinion that, in all material respects, contributions received, expenditures made, and assets of the Church for the year 2017 have been recorded and administered in accordance with approved Church budgets, policies, and accounting practices.
- What were the findings of the Church Auditing Department for the year 2017?
- What financial principles does the Church follow in its practices?
- How can you implement the principles of living within a budget, avoiding debt, and saving for future needs in your own life?
- What steps can you take to ensure that your financial practices align with those taught by the Church?
Living Within a Budget
The Church emphasizes the importance of living within a budget as a core financial principle. This practice helps ensure that resources are used wisely and that there is provision for future needs.
The Church follows the practices taught to its members of living within a budget, avoiding debt, and saving against a time of need.
- Why is living within a budget important?
- How does living within a budget help in managing resources wisely?
- What are some strategies you can use to create and stick to a budget?
- How has living within a budget benefited you or your family?
Avoiding Debt and Saving for Future Needs
In addition to budgeting, the Church teaches the principles of avoiding debt and saving for future needs. These practices help individuals and families achieve financial stability and prepare for unforeseen circumstances.
The Church follows the practices taught to its members of living within a budget, avoiding debt, and saving against a time of need.
- What are the benefits of avoiding debt?
- Why is it important to save for future needs?
- What steps can you take to reduce or eliminate debt in your life?
- How can you start or improve your savings plan to prepare for future needs?
