Our department is responsible for the financial transactions of the Mississippi Baptist Convention Board (MBCB). During 2015 Mississippi Baptists continued their historical pattern of generosity in financial support of missions as evidenced by our processing over $55 million given for mission efforts around the world.
We have internal controls in place to insure that each gift is properly recorded and appropriately distributed. Among the controls related to the receipt of gifts are separation of duties of the personnel handling cash, verification of gift amounts and gift designations, and monthly acknowledgements to donors. Also, a listing of gifts from each church is published semi-annually in The Baptist Record and made available monthly on our web site (www.mbcb.org).
Distribution of funds is determined by the type of gift received. Designated gifts are distributed according to the instructions of the donor. Cooperative Program (CP) gifts are distributed according to the CP budget. Approximately 15,000 checks were written to disburse mission funds, pay vendors, and provide the services necessary to carry out the ministries of the MBCB. Each year the financial records of the MBCB are audited and a copy of the audited financial statements are included in both the Book of Reports and the Mississippi Baptist Convention Annual.
Arriving at an approved CP budget is a lengthy process. Each MBCB department submits their budget requests to Financial Services. We compile the requests and provide to MBCB administration for review. Once approved by administration, those requests are included in a comprehensive presentation to the Board’s Budget Committee that also receives budget requests from our institutions and agencies. A recommended budget from the Budget Committee must be approved by the Executive Committee, the full 100 member Board, and then be voted on by messengers to the annual convention.
Personnel responsibilities involve the coordination of salary and benefits for employees and benefits for retirees. There are approximately 100 full-time employees, 120 part-time employees (including summer staff at our camps), and 105 retirees. We maintain employee records in compliance with government regulations, distribute payroll, and insure the timely payment of payroll taxes and filing of payroll tax forms.
This department also has responsibility for general business operations. These include the maintenance of property and casualty insurance coverage, financial reporting, and our telecommunications systems.
Tim Ruth is our representative who is available to assist churches with planning of staff compensation packages as well as to provide information on employee insurance and retirement benefits offered by GuideStone Financial Resources. Those employee benefits coordinated through GuideStone include provisions for matching contributions from the MBCB. We encourage any church to contact Tim with any question on how to best use the church’s resources to provide staff with insurance and retirement benefits.
A resource now available to your church is the 2014 Compensation Study. State conventions participated in providing information concerning staff salaries, benefits, and reimbursements. LifeWay Christian Resources and GuideStone Financial Resources compiled the data that provides an insight to assist churches in maintaining adequate compensation.
You may view the results of the 2014 SBC Compensation Study. In order to get the most accurate data, choose the “Customized Report” option.