ROL, like other churches, rely on the generous contribution of its members to support ministry programs and fixed operating costs among them, General expenses, Evangelistic activities, Upkeep of buildings and necessary contents, Capital development, Benevolence.

» The financial viability of any church rests on its ability to manage its finances. This created the need for ROL to figure out the best way to manage its limited financial resources. Being alive to this fact, the church has embraced the following programs to manage its finances;

Responsibilities of the Finance team:

» 1. Strategic Planning: A well thought out Strategic Plan takes into consideration financial policies and reporting measures that are necessary for prudent financial management. ROL employs strategic planning to commit and designate resources toward those critical areas that will sustain and grow the ministry.

» 2. Realistic Revenue Projections: ROL ensures that its operations are guided by certain revenues by making realistic projections of contributions that are used to fund the budget. This is achieved by conducting monthly review of projections to compare them against the actual to ensure accurate financial targets for the year.

» 3. Budgeting: Budgeting is quite crucial for successful financial management and church budgets are tools that help to achieve objectives. ROL makes use of the budget as the financial tool to restrict spending to budgeted obligations.

» 4. Oversight and Accountability: ROL has heavily invested in oversight and accountability for the purpose of adhering to the budget. These functions have helped to ensure that church resources are spent as allocated. The church has an active Finance Committee and a structured performance management process charged with ensuring accountability for budget oversight and spending.

» 5. Communication: ROL is committed to financial transparency and solicits feedback from church members on cost-saving ideas, strategies for raising funds, and make them aware of financial challenges.

» 6.Financial Emergency Preparedness: When you budget for an emergency you create a financial buffer that buys you the time needed to make adjustments and spending changes in the event of a true financial emergency. To align ourselves with this fact, ROL deemed it reasonably fair to establish a reserve fund as the structured plan to ensure that resources are available to keep the organization in the black and moving forward, regardless of the hard economic climate.

» We uphold Godly financial integrity by handling church finances in the best optimal way.