Annual Church Audit

2009
Each year, the Finance Committee of Hennepin Avenue UMC contracts with an
independent, outside audit firm for an audit of the finances and financial procedures
of the Church for the prior year. The 2009 audit was conducted by Ryan Terry and
Associates, and a copy of the full audit is available by contacting the chair of the
Finance Committee, or Chris Jackson, Minister of Administration, chris@haumc.org
or 612-435-1308. The Board of Trustees (the corporate officers of the Church) and the
Finance Committee found no significant issues of Church financial management for
the prior year.

The audit examined income and expense in four funds of our Church corporation:

1. Church operating budget (the main operating fund for the ministry of the church
supported primarily by income from church member pledges)
2. The Hennepin Foundation (invested funds produce annual income for ministry
grants)
3. Board of Trustees (pledges from members and invested funds are used for capital
and major facility repairs and remodeling)
4. Koinonia Retreat Center (income from facility users and operating expense)

(The Steeple People Surplus Store is a separate non-profit corporation.)

On the next page is a summary of the income and expense statement from the audit.