Finance & Giving

Arise Church is registered under the Charities Act 2005, which outlines specific standards that need to be met, including financial requirements. Controls are in place to mitigate risks and ensure processes are outworked accordingly. These controls apply to everyone who handles finances across the organisation. We keep a risk registry with a focus on finance. This allows us to identify risks and mitigate them appropriately. We diligently adhere to policies that are based on both legal and biblical best practices. We are constantly looking to work smarter in stewarding God's finances well.

• Transactions & Payments

  • All supplier orders, credit card purchases, and reimbursements are required to be in budget with a valid purchase order number.
  • Invoices are signed off by budget owners or their delegates.
  • Reimbursements are signed off by line managers.
  • Credit card transactions are monitored by the finance team.
  • Senior leadership and high-level management credit card transactions are monitored and signed off by the General Manager.
  • All payments undergo two finance team checks and then are authorised by two additional authorities.

• Monthly Reviews

  All transactions for all budgets are reviewed in detail by the finance team each month. A profit and loss report for each budget area is then prepared and sent to the budget owner. We are developing innovative ways of reporting which empower budget owners with information to make wise and informed decisions.

• Board Oversight

  Financial oversight and responsibility sit with the board. The board reviews and approves the annual budget. The board then delegates the outworking of this budget to the finance team and budget owners.

  Each month the board receives an update on finances, including a statement of performance and position which covers all transactions. Any over-expenditure is highlighted and discussed, with actions set and communicated to minimise any variations. Expenditure outside of the budget requires prior approval according to the delegated financial authority policy. This authority primarily sits with the board, with defined levels delegated to management. The board, the leadership team and the finance team are in direct contact and communication, with any additional information or updates provided as needed.

• Annual Audit

  Each year, our financial accounts, processes, and controls are audited by an independent firm. This engagement tests and checks our systems, processes, and controls, as well as sampling transactions and key accounts. The process also examines potential risks and checks whether there are adequate controls in place to mitigate them, and the consequential impact on financial statements. These are prepared in line with the Financial Reporting Act 2013, in accordance with the NZ GAAP and comply with the PBE IPSAS, as well as other applicable standards, as appropriate for a Tier 2 not-for-profit PBE.

• Professional Standards & Code of Ethics

  The finance team is made up of highly qualified professionals. This team includes varied professional qualifications including a member of CAANZ (Chartered Accountancy Australia New Zealand). The team proudly maintains professional standards and a code of ethics.

  We have strong processes that include using a finance tool to maintain accountability and oversight of our finances. All transactions are recorded and reconciled with this tool. Our accounting software is only accessible to the finance team and auditors. Any changes made are automatically noted on the software and are included in the control and substantive testing performed as part of annual and ad-hoc audits.