Financial review suggests changes at MC Canada

Winnipeg, Man.

[Graph Not Transcribed]

A comprehensive review of Mennonite Church Canada's financial operations has resulted in several recommendations.

The review was conducted by Ruth Dueck Mbeba and Neil Janzen of Mennonite Economic Development Associates (MEDA). Their recommendations included:

- Hiring an interim financial consultant.

- Improving financial reporting.

- Updating policies and procedures to reflect current structures.

- Implementing a staff performance management system.

- Strengthening the responsibilities of the Financial Policy and Audit Committee.

- More clearly defining the role of the Support Services Council.

The objectives of the assessment were to review lines of reporting, flow of information, budgetary process, and determine the skills required in the finance department.

Dueck Mbeba and Janzen also observed that:

- The annual audit process has generally been well-managed.

- While accounting skills are satisfactory, more weight needs to be placed on financial management and strategic thinking in financial leadership.

- Although the organization is solvent, the re-building of cash reserves is needed.

- Staff are "committed people who love the church, the organization and its mission," and "the organization places a high value on efficient administration."

Lloyd Plett has been appointed Interim Financial Consultant. He will provide guidance, monitoring, and risk management analysis of MC Canada's financial operations.

Plett, a Certified Management Accountant with over 25 years of experience, was Vice President-Finance at Loewen Windows, a 1,200-employee manufacturer in Steinbach, Manitoba. He continues to oversee Loewen family investments. Plett attends Prairie Rose Evangelical Mennonite Church.

"When I'm done, I hope confidence will be restored in Mennonite Church Canada," says Plett. "There is good work being done here, it deserves support." Plett will work up to 7 days per month for up to 18 months.

Dan Nighswander, general secretary of MC Canada said, "The review by the MEDA Consulting Group has provided a valuable external assessment of our financial management, with commendation as well as good counsel for improvement. With the changes already implemented and now with Lloyd Plett's appointment as a consultant we want to raise the standards of our financial management."--MC Canada release