Coming from the Banking Industry, You Understand the Need for Accurate and up to Date Accounting

March 2007

Dear Friend,

Coming from the banking industry, you understand the need for accurate and up to date accounting principles. Early in 2006, Young Life reviewed its accounting principles and found that our system of electronic green sheets was not giving us the accuracy and accountability we needed. During this review we also found some new systems that would provide not only the accuracy and accountability we needed, but would also provide a significant yearly financial savings on the cost of the system.

Starting the summer of 2007 Young Life will be replacing a manual expense reporting system with an online banking solution incorporating a purchasing card as the primary payment method for area expenses. This new system will be single platform across the mission so that all of our staff are using the same system for managing their area finances. We expect this change to be much more efficient than the current system that is manual and paper based. This will allow our staff to spend more time caring for kids in your community. And, as I noted earlier, this new system will provide a significant savings that will be passed on directly to the local area via a 1% reduction in service charge.

This new system will eliminate local area checking accounts, and that is why I’ve written you today. Many of our areas and Young Life Staff have developed long standing relationships with local banks, and I want to be sensitive to these relationships. We are not asking our areas to move from one bank to another, but rather from one system to another which requires eliminating the use of a local bank.

Thank you for your partnership over the years. Your support of the local Young Life Area does not go unnoticed. I also know that your partnership will continue to be key to areas throughout the mission. I encourage you to continue your support of Young Life, in the same way that our new accounting system will free up more dollars for local ministry and more time to be given to kids; your support also provides the funding and the freedom to minister to kids that local areas so desperately need.

In Christ,

Denny Rydberg