Crisis moments nearly always impact the finances of a church or organization. If the crisis is severe enough, it can also creep into your personal finances through lay-offs and organizational downsizing. As a leader, what questions should you be asking regarding your organization’s finances in times like these? Here are ten questions to get you started. While these questions are written primarily from an organizational perspective, they can be just as relevant to your personal finances, too. 

1. Do: What priorities should we focus on? Financial stewardship during a crisis often begins with, “What can I cut?” We’ll get to that in a moment, but that’s not where you begin. Instead, focus on your highest priorities. In other words, identify what not to cut because of the critical nature it plays in your organization. If your priorities are not clear, you may unintentionally undermine the staff, programs, or products that are most essential to your ability to survive the crisis. 

2. Delete: What easy cuts can we make? Once priorities are clear, start looking at the “easy cuts” that you can make. Easy cuts usually include things that are nice to have but not essential to do business. It might include certain subscriptions, memberships, or spending decisions that are generally less disciplined.  

3. Discontinue: What services or purchases are not essential? Two services that were a regular part of our church services included our coffee service and the hiring of a police officer. When COVID-19 shut down Sunday services, there was obviously no longer a need for either service. What services can you temporarily suspend or discontinue during a crisis? Coffee and a police officer were obvious, but there may be other hidden expenses that simply aren’t needed any longer. 

4. Delay: What new initiatives should we temporarily suspend? Most churches and organizations have something in development at any given time, such as a new program, a new product, or interviewing for a new position. When a crisis hits, it’s often a good idea to delay these new initiatives. You’re not throwing them out the window, never to be seen again. Instead, you’re putting them on hold, delaying the hire or holding off on the program or product launch. 

5. Decrease: What budget lines should we reduce? Leaders will often make across the board cuts when finances are tight. For example, they might say, “Every department needs to cut 25% from their budget.” This is an easy way to get to the budget number looming over your head. While this might work, keep in mind that not every budget line is equal. Some budget lines are critical in a crisis, while you may be able to completely eliminate others. Be careful not to make equal decreases across the board. Understanding your highest priorities will help in this process. 

6. Delegate: What can we outsource for less or for free? For churches and other non-profits, take a look at the services you pay for and determine whether some of them could be delegated to a volunteer who is able and willing to volunteer their time, skill, and expertise. Not only will this save the organization money, but it will mobilize a volunteer to use their gifts and passions to make a difference.

7. Deal: What services or contracts can we renegotiate? It’s very easy to secure a contract and let years go by before we stop and evaluate if we’re getting the best deal. A crisis moment is a great time to revisit monthly and annual contracts on equipment, insurances, and other services to determine if you should renegotiate the terms of the contract or search for a better deal with a different vendor. 

8. Downsize: What services can we trim? When COVID-19 hit and our on-campus services stopped, we significantly reduced our janitorial services. With much of the building remaining empty, there was simply no need to pay for cleaning services in those areas. Downsizing can also apply to staff, but work hard to push this decision off as long as possible. If that time comes, you’ll have to determine what’s best in your situation. Different leaders take different approaches. Some lay off one person so that everybody isn’t negatively impacted. Others do across the board salary cuts—perhaps 10% or more. Others begin cuts by removing benefits such as matching retirement funds or eliminating the funding of a health savings account. Seek wisdom and perspective so you can manage these difficult decisions wisely and respectfully. 

9. Double: What should we invest in more? This probably sounds counterintuitive when finances are tight. However, depending on the situation, it may be wise to invest more money in areas that will deliver a greater return on investment. When COVID-19 hit and everything had to move online (services, groups, etc.), we had to increase our investment in technology. While it required more money, the investment was still fairly minor, but the return was well worth it. 

10. Distribute: What can we give to those in need? Finally, consider who you can help in the middle of the crisis. Generosity is not a character quality we only exhibit when times are good. Generosity is a way of life. There’s likely somebody hurting, out of work, in need of groceries, or struggling to pay their rent. What can you (personally and organizationally) do to help someone else?

These ten questions have application organizationally as well as personally. It’s a good place to start when a crisis disrupts your life, organization, or the world.