The Unitarian Universalist Community Church of Santa Monica

Audit Policies and Procedures

Approved by the Finance Committee 12-01

Article XI.C of the Church Bylaws as amended May 21, 2000, calls for an audit each year of the Church’s financial records. This audit shall be reported to the Board of Directors no later than 90 days after the end of the fiscal year.

To accomplish this goal, there shall be an Audit Committee that shall annually review the Church’s past year’s financial transactions. The Audit Committee shall promptly report its findings to the Board of Directors.

The Audit Committee shall consist of no fewer than three standing members, including a chairperson who, if possible, shall have a professional financial background. The committee members shall serve under the guidance and direction of the chairperson.

The following procedures shall be implemented to facilitate the work of the Audit Committee:

1. The Church Treasurer shall present to the Finance Committee a monthly compilation of checks issued the previous month, indicating check number, payee and amount.

2. The Finance Committee shall review and retroactively approve the expenditures.

3. A copy of the approved compiled list shall then be given to the Audit Committee chairperson, to be used as the source document for the annual audit.

The Audit Committee shall also review office procedures related to Church accounting to ensure that there is a division of duties to safeguard Church assets. The Audit Committee shall make recommendations in its annual report to correct or strengthen existing office financial-related procedures.

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