The Unit Financial Statement should be reviewed monthly by each bishop and stake president and by a clerk. It is available in LCR a few days after the end of each month. This statement displays a unit’s financial activities including donations, balances, and fast offerings. Action items listed on the statement are suggestions and reminders to the unit to help manage any outstanding financial items. These items can suggest how to bring unit records into agreement with financial records at Church headquarters.
Once the Unit Financial Statement is created, leaders will see a reminder tile on their LCR Finance Overview page. This tile will remain on the Overview screen until all of the unit’s financial statements and corresponding tabs have been verified as reviewed.
Leaders can view a list of ward or stake financial statements, review the information, and mark as completed by following these steps:
Once the Submit button has been selected, the user’s name and date submitted will appear on the Financial Statements screen.
After all tabs on all financial statements have been completed and submitted, the reminder tile on the Finance Dashboard will no longer appear.
The Unit Financial Statement consists of three sections: Donation Summary, Balances, and Fast-Offering Analysis. Each section has different elements: Information, Action Items, Comments, and a sign-off checkbox.
Donation Summary shows money donated to the different categories during the month. Each category lists donations made online and in person. The total for each category is listed along with the total for all categories (Tithing, Fast Offerings, General Missionary Fund, Ward Missionary Fund, Humanitarian Aid, General Offerings, Budget, and Local). A stake will be able to view all its units.
Action items on the Donation Summary tab emphasize possible concerns a leader may need to address: 1) Missing Deposit Reports, 2) Missing Bank Deposits, and 3) Missing Weekly Financial Reports. A stake will be able to view all the action items of its units.
Use the comments section to add comments and view comments from other leaders about information on this tab.
The Balances tab lists the budget categories (Ward Missionary Fund, Budget, and Local). The beginning balances, financial activity, and ending balances are displayed. The Ward Missionary Fund and Local categories can be expanded to show subcategories. A stake will be able to view the Ward Missionary Fund, Budget, and Local categories for each of its units.
Action items on the Balances tab emphasize possible concerns a leader may need to address: 1) Outstanding Expenses, 2) Unreported Expenses, 3) Ward Missionary Overdrawn, 4) Budget Overdrawn, and 5) Local Overdrawn. A stake will be able to view all action items of its units.
Use the comments section to add comments and view comments from other leaders about information on this tab.
Fast-Offering Analysis shows fast-offering assistance (Monetary and Bishops’ Orders) provided during the month and a list of assistance recipients have received over the last 12 months. (By default, the “Include ‘Out of Unit’ Participants” box is enabled; a leader may choose to deselect the box to view only current ward members.) The stake can view each of its unit’s fast-offering assistance.
Action items on the Fast-Offering Analysis tab emphasize possible concerns a leader may need to address: 1) Recipients without Membership Number, 2) Payee and Recipient Are the Same, 3) Outstanding Expense (fast offerings only), and 4) Payee or Recipient Is Also the Unit Leader (stake view only). A stake will be able to view all action items of its units.
Use the comments section to add comments and view comments from other leaders about information on this report.
Priesthood leaders have a responsibility to shepherd both members and the sacred funds of the Church.