The Seven Deadly Sins
The Seven Deadly Sins of Reserve Fund Stewardship
Sum of the Sins
R Recklessness in planning
E Entanglement of operating and reserve funds
S Self-will in spending
E Ego that rejects professional advice
R Runaway project costs
V Vanishing records
E Erosion of stewardship
1. The Sin of Slothful Foresight
Thou shalt not sleep concerning the days to come, nor leave the kingdom without gold against the time of reckoning. [King James Style]
Do not neglect long-term planning or fail to set aside adequate reserves for future needs. [New English Version]
2. The Sin of Confusion
Thou shalt not mingle the daily needs of the kingdom with the gold appointed for works yet to come. [King James Style]
Do not use reserve funds for ordinary operating needs or confuse operating funds with reserves. [New English Version]
3. The Sin of Presumption
Thou shalt not expend the gold of the treasury according to thine own will, without the authority of the elders or a memorial thereof. [King James Style]
Do not spend reserve funds without proper Board authorization, deliberation, and documentation. [New English Version]
4. The Sin of Pride
Thou shalt not trust in thine own understanding, nor proceed without the oversight or counsel of people skilled in their professions. [King James Style]
Do not attempt to manage complex reserve matters by yourself without the oversight or advice of qualified professionals. [New English Version]
5. The Sin of Excess
Thou shalt not go beyond the bounds set forth in the prophecy, nor exceed the expenditure of gold appointed for the work. [King James Style]
Do not allow a project to exceed its approved scope, budget, or authority without an approved change. [New English Version]
6. The Sin of Forgetfulness
Thou shalt not suffer the testimony of thy works and thy outlays of gold to perish from the books of the kingdom. [King James Style]
Do not fail to record expenditures, decisions, project results, and the information future Boards will need. [New English Version]
7. The Sin of Unfaithful Stewardship
Thou shalt not neglect the reckoning of thy books, nor withhold gold from the mending, renewing, and replacing of the works of the kingdom. [King James Style]
Do not fail to reconcile the accounts, fund needed repairs, or improve the reserve-management process for those who follow. [New English Version]