If the pastor purchases a computer and it stays in the church office all of the time, and all of the departments in the church use the computer, it is NOT the church s asset. It must have monetary value. Any organization owns many things, from buildings and vehicles, to copy machines and computers, to Sunday School quarterlies and supplies. Not all of them have monetary value. We own all of the deluxe pencils that many of you are using today, but they are not our assets because they have no monetary value.
Cash is an asset.
So they don t walk off. Improves your balance sheet position. Establish a minimum asset value policy. Reduces time and paperwork. Establish a project policy.