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Treasurer Transition

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.