Treasurers Training

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Treasurers Training
August 2008
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Treasurers Training 2008 Overview
Section 1 A Summary of the Role
(BPS) - Key Responsibilities - Other
Areas
Section 2 Cashbook Introduction
(MB)
Section 3 Current Topics
(BPS)
Section 4 Questions and Answers (All)
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Treasurers update 2008
Section 1 A Summary of the Role
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Treasurers Training 2008 A Summary of the Role

• Key Responsibilities (Things you have to
  do)
• Keep accurate books and records for the PCC
• Prepare statutory accounts for the PCC

• Other Areas (Things you will probably end
  up doing)
• Fees
• Parish Share
• Parish Finance Return
• Parish Trusts
• Grants and Loans

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Treasurers Training 2008 Books and records
The books and records you maintain must

• Show all money received and spent, with
  explanations
• Include a record of assets and liabilities
• Enable the current financial position to be shown
  at any time
• Enable statutory accounts to be prepared
• Be kept for 6 years

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Treasurers Training 2008 Books and records
Typically books and records will include

• An analysed cash book (DBF can provide an Excel
  version)
• Cheque stubs
• Paying-in books
• Bank statements
• Weekly/daily parish collection summaries
• Invoices and other supporting documentation for
  payments
• Correspondence file
• Copies of historic statutory accounts and budgets

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Treasurers Training 2008 Preparing accounts
Context

• PCCs are charities
• They are excepted from registration which is
  why they do not have a charity number
• However they must still comply with relevant
  charity law
• In accounting terms this means SORP 2005

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Treasurers Training 2008 Preparing accounts
Which accounts?
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Treasurers Training 2008 Preparing accounts
Fund Accounting

• There are four types of fund
• Endowment cannot be spent (but income can)
• Restricted must be used for particular purpose
• Designated Earmarked by the PCC
• Unrestricted for any purpose of the PCC

• NB
• Designated funds have no legal status and can, in
  fact, be used by the PCC for any purpose
• The PCC cannot restrict funds

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Treasurers Training 2008 Preparing accounts
Year end process

• Prepare accounts
• Have independent examination done
• Accounts to PCC for approval and signature
• Independent examiner signs report
• Display accounts for 7 days prior to APCM
• Accounts received by APCM
• Send accounts to Church House within 28 days of
  APCM

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Treasurers Training 2008 Preparing accounts
Tips

• Use few, meaningful headings
• Keep it simple - put any detail in the notes
• Dont use pence
• Use columnar format
• Show previous year for comparison
• Keep each statement to one side of A4

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Treasurers Training 2008 Other Areas Fees
Parochial Fees

• Fees due for weddings and funerals
• Rates set by Archbishops Council
• Extras may be set by the PCC (e.g. organist/bells
  etc)
• Most incumbents have assigned their fees to the
  DBF

Casual duty fees

• Fees for services taken by casual clergy
• Rates set by combination of national and diocesan
  policy

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Treasurers Training 2008 Other Areas Parish
Share
Our system

• Cost/Mutual Support
• We advise your deanery of your cost
• You commit to pay what you can
• The difference between the two is Mutual Support

Timetable

• Cost advice initially late July, final by early
  August
• Commitments agreed by the end of October

Everything goes through the deaneries
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Treasurers Training 2008 Other Areas Finance
Returns

• Issued by
• Archbishops Council
• Used for
• Collection of nationwide statistics
• Press stories
• NB
• Include all funds
• Splits restricted/unrestricted and
  recurring/non-recurring
• Should agree to your statutory accounts

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Treasurers Training 2008 Other Areas Parish
Trusts

• Permanent trust monies and land legally must be
  vested in the Diocesan Trust
• The Diocesan Trust is custodian trustee only
• If the Diocesan Trust has PCC funds which are not
  permanent endowment, apply to have them returned
• If your trust is very small it may be possible to
  wind it up. New legislation has simplified the
  process contact Joan if you parish has
  endowment funds you wish to access.

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Treasurers Training 2008 Other Areas Grants
and Loans
Grants

• Listed Places of Worship Scheme VAT
  back on most repairs to listed Churches
• Adams Organ Fund/Table Tomb fund For
  organs/tombs respectively, apply to JM-J
• Grace Anne Poole Charity Small grants for
  working with vulnerable children

Loans

• Recent changes now for mission and
  buildings application form
  available soon from BPS

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Treasurers update 2008
Section 2 Cashbook Introduction
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Treasurers Training 2008
Section 3 Current Topics
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Treasurers Training 2008 Current Topics

• Parish Share Leaflets
• Open Day
• Direct Debit Scheme
• Registration of Charities
• Energy Savings

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Treasurers Training 2008
Section 4 Questions Answers