I have been the treasurer of two churches, and the policy has been to submit the accounts to the Management Meeting every month.
To each church their own! We cannot say that because your church handles money a certain way, it sets the precedent for all churches to follow suit. What one church establish as policy doesn't mean their way is the best.
However, every church should have good by-laws put in play with the handling of money or set dollar amounts. I am not against checks and balances...it is wise. Money is one of those areas that takes out a lot of pastors (along with pride and lust).
There is no Scripture that offers a clear way of handling church tithes with checks and balances.
We do see in Acts, where there was lying to the Holy Spirit in regards to the giving of tithes, like was the case with Ananias and Sapphira.
We must be very careful not to speculate, accuse, and judge another of embezzlement, fraud, or misuse of church tithes, when we have no evidence. Emotions and feelings are not good enough to say there is something wrong going on.
We should not give any place for the devil to establish a foothold.
And if there is something shady, dishonest going on, then Luke 8:17 kicks in, "For nothing is secret that will not be revealed, nor anything hidden that will not be known and come to light." The truth will find you out!
As far as the congregation knowing about where every dollar goes, I don't agree. Most churches are not congregational run. The congregation doesn't lead a church, but the Lord has appointed a shepherd and appropriate leaders and elders in a church to lead it.
I am not against churches sharing with the church where they are at financially with numbers reported. As fast as letting the church know the specifics (i.e. $5 was spent on water, $100 on a youth activity, $20 in postage stamps, $10 in light bulbs, $100 to hospitality, etc. etc. etc.), is just plain ridiculous.