WAIAPU PARISH ACCOUNTING

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Transcript WAIAPU PARISH ACCOUNTING

WAIAPU
PARISH
ACCOUNTING
SCHEME
Revised August 2014
What do we do?
We Offer Accounting and Payroll Services to:
• 33 Parishes
• Waiapu Board of Diocesan Trustees (the banker and
property owner)
• Diocese of Waiapu (administration centre)
• Bishopric Endowment Trust (Bishop)
• 3 Hospital Chaplaincies (Hawkes Bay, Tauranga, Gisborne)
• Gisborne Bible in Schools
• Anglican School (St Matthews, Hastings)
Who are we?
Tracey O’Shaughnessy:
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Finance Manager - with oversight of the Parish Accounting Scheme
Full Time
Email: [email protected]
Lesley Thomas:
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Parish Administrator
Full Time
Responsible for Financial Reports & General Ledger Journals, Parish Bank Transactions,
Payroll, Aps, Direct Debits.
Email: parish. [email protected]
Robyn Owen:
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Accounts Payable Clerk
Full Time
8.30am till 3.00pm
Responsible for all Accounts Payable
Email: [email protected]
How Much do we Process?
Every month we process:
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Over 1200 bank statement entries
Over 1300 creditors settled
Over 100 employees paid
Over 40 monthly reports issued
Over 200 phone calls answered
Over 600 emails received
What does this mean…
• Your instructions need to be timely, clear, and right first time
Monthly Timeline
• 11th – Start processing bank statements and accounts payable for
the month
• 16th – All payroll changes, timesheets must be received
• 18th – All Invoices for payment at 20th to be received by mid-day
• 19th – Payroll sent to Bank
• 20th – 20th creditors are paid
• 30th – Last creditors are paid
• 2nd – Last bank entries processed and bank reconciled (if all
documentation has been received)
• 4th – Imprest statements to be received
• 9th – All Imprest statements to be processed
• 10th – Monthly Reports finalised and issued to vestry
How can you help us
• By using the correct paperwork, completing it correctly,
and sending it to us on a timely basis
o within 24 hours of deposit
o direct debits sent to us as soon as you receive them
(these can be ratified by vestry later)
• Ensuring you remember our monthly timeline
• Blank forms can be downloaded at
http://www.waiapu.com/resources/managementinformation/parish-accounting/forms
Deposits
• Did you know that all 33 Parishes in the accounting scheme
share the same bank account, meaning the source of all
deposits must be identified otherwise some other Parish might
get credited your income !!!
Parish Admin
Deposits
• All deposits made at the bank must be made using the special
deposit book containing your Parish name and number
• When you start your last deposit book please contact the
Parish Administrator and she will organise for new deposits
books to be sent to you. Do not go to the bank direct.
Parish Admin
Deposits cont’d
• Followed up with a coded banking summary
(preferably emailed – faxes are unreliable and mail is too slow)
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To be received within 24 hours of the deposit
Only need to make 1 deposit per day
1 deposit per summary
Enter actual date of deposit
Name of Parish
Number of parish in top right hand corner
Enter Code for each line (refer to code list – if in doubt – call us)
•
If deposit is for Diocese Bank account (ie.Marsden Cross/ Top Parish) use seperate
Deposit Summary and cross out Parish Accounting Scheme at top of form and email
information to Robyn [email protected]
Deposit analysis form
Parish Administrator
Deposits cont’d
• If you transfer any money into our account by internet
banking please indentify your Parish in the reference field and
the code ‘1124’.
(and don’t forget to send us a transfer form)
• If you are expecting a third party to deposit into our account
please let us know (eg cattle sales, cottage rentals).
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Send us details:
Parish Admin
- Who the funds are from
- What Parish they relate to
- What Code to enter them to
- Any Paperwork you have received from the supplier
Deposits - codes
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In the Parish Chart of Accounts Income should normally be
coded to:
2000-2499 Offerings & Donations of various kinds
2500-4200 All other income including Rent, Interest & Grants
9000-9099 Op Shop Income
9300
Ezee Meal Sales
9800-9899 Capital Projects and items outside budget (ie
Grants)
• Income should not be coded against any expense codes
Parish Admin
Payables – Accounts for payment
• All Invoices are paid on the 20th and should be passed as approved
at vestry and sent to Diocesan Office by mid-day on the 18th.
• They are then sent to Accounts Payable with a coded covering sheet
authorising the listed accounts for payment.
• All reimbursements should be on the appropriate claim form and
should include the supplier’s name, postal address, email address
and bank account for payment. Don’t forget to get these authorised
by an approved person.
• Reimbursements and urgent invoices are to be into the Diocesan
Office by 11am Wednesday for payment on Thursday.
• Any Accounts being paid by Direct Debit should be clearly separated
from those requiring a cheque to be raised. Do not hold these
invoices but send these in before their due date for payment.
(Remember - You are responsible for coding – please refer to your budget)
Payables
Payables Schedule of
accounts payable
Urgent Payments
• Urgent Payments can be forwarded to us by 11am on
Wednesday for payment each Thursday. Please ensure all
documentation is included and contains the correct
authorisation.
Payables
Payables cont’d
• GST will only be claimed (reducing the cost to the Parish)
where a valid invoice supplied (incl reimbursements)
• Payments will not be made on statements, only on invoices.
• Where possible supply details of the creditors email address
and bank account details (so payment and remittances can be
electronic –saving money).
Payables – using investment funds
• Occasionally Parishes require payments to be made
from investments funds rather than the cheque
account.
• Code the invoice and submit the invoice for
payment as normal (if it’s a repair code it to repairs,
do not code it to the investment code).
• Send through a separate request to action a funds
transfer from investment account to the cheque
account to cover the payment. (the form is on our
website)
• We suggest you send us a copy of your vestry
minutes approving this transfer.
Payables - Codes
• All payables should be coded to an expense code.
These are typically:
• 5000-5999 Personnel Expenses
• 6000-6999 Parish Operating Costs
• 7000-7999 Assessments & Levies
• 8000-8999 Property Costs
• 9100-9299 Op Shop Expenses
• 9300-9399 Ezee Meal Expenses
• 9800-9899 Capital Projects and items outside of
budget (they may be moved at year end)
Petty Cash – Accounts
Payable
• Most Parishes have a petty cash float
• When the float needs topping up send us the petty cash
reimbursement form setting out what has been spent (coded
and authorised) and copies of the receipts
• We will send you an open cheque to cash to reimburse the
float
Payables
Petty Cash
Imprest Account
• Why do we have them:
o Allow parishioners to pay offerings by automatic
payments
o To manage debtors invoices sent – i.e. hall hire,
wedding/funeral charges
o To isolate fund-raising etc. for major long term
capital works
o To pay small local payments (ie. catering
/supermarket purchases)
• What you can’t do with an imprest account:
o Have an eftpos/debit card on this account
o Have a credit card attached
Imprest Account
• Authority on payments:
All payments must be authorised by 2 appointed
members of your Vestry. Your Administrator should
not have signing authority on this account.
• How many imprest accounts do you really need? One?
o You are missing out on interest (Why not place the
funds in a call account with WBDT?)
o Your Parish Accounting Scheme Bank account may
be in overdraft costing you interest.
Imprest Account - Transfers
• No need to maintain a fixed dollar balance in your Imprest
Account anymore. You manage the balance
• If you have surplus money write out a cheque and deposit
it into the Parish Accounting Bank and send us an Imprest
Funds Transfer Form. This gets coded to 1124.
• If you need the account funded send us a Imprest Funds
Transfer Form stating the account number to be funded
and the amount to fund. This gets coded to 1124.
Imprest Account
Parish Admin
Imprest Account - Process
• By the 4th of the month you should send us your imprest bank
statements for the previous month . We suggest you use the
imprest account analysis form
- contact us if you are going to be late
• Attach copies of all invoices paid through the account
(otherwise we won’t claim GST).
• If your Parish financial statements have a balance in 1124 at
month end your Imprest Account and Parish Bank Account are
not processed to same date.
Suspense Account - 1125
• If your Parish has a balance in account 1125 at the end of the
month this is because we have identified a transaction
belonging to your Parish but we do not know what it relates
to. Please advise us before the next month end so this
account can be cleared. (normally un-identified Deposits and
Direct Debits)
• Contact us if there is a balance in this code brought forward
from a previous month which has not cleared.
Cash Management - Parish
• It is important than you manage the cash balance of your
Parish Bank Account. This is your Vestry’s responsibility!
• Any overdrafts will be charged interest on a daily basis and
the interest will be shared out between the Parishes in funds.
• It is not worth holding large investment accounts or imprest
balances if your Parish bank account is in overdraft.
How to read financials
Statement of Financial Operations for Period ending 31 August 2011
Note MTD Actual YTD Actual YTD Budget
Var to YTD
Budget
Last Year
Budget
FY Budget Remaining YTD Actual
Parish Income
2000-2499
Offerings/Donations
1
6,361
2500-3999
Other Receipts
2
15,209
4000-4999
Mission Giving
3
Total Parish Income
-
33,124
37,280
160,507
32,950
45
480
(4,156)
127,557
(435)
89,476
56,352
29,214
79,079
(81,428)
26,620
1,150
1,105
501
21,569
193,676
70,710
122,966
169,705
(23,971)
56,334
45,655
1,064
109,570
64,979
35,795
Parish Expenditure
5000-5999
Personnel Costs
4
9,782
44,591
6000-6999
Parish Operating Costs
5
3,076
14,897
8,955
(5,942)
21,493
6,596
11,036
7000-7999
Assessments/Levies
6
3,322
15,355
11,835
(3,520)
28,400
13,045
12,121
8000-8999
Property Costs
7
4,320
15,220
11,390
(3,830)
27,350
12,130
17,618
20,500
90,063
77,835
(12,228)
186,813
96,750
76,570
1,070
103,613
(7,125)
110,738
(17,108)
120,721
(20,235)
(13,971)
(113,521)
(2,085)
(111,436)
(5,000)
108,521
(31,967)
Total Other Activities
(13,971)
(113,520)
(2,085)
(111,435)
(5,000)
108,520
(31,967)
TOTAL SURPLUS/(DEFICIT)
(12,902)
(9,906)
(9,210)
(696)
(22,108)
229,241
(52,202)
Total Parish Expenditure
Parish Operating Surplus/(Deficit)
Other Activities
9800-9900
Capital Projects
Parish Accountant
11
How to read financials
Gisborne - Holy Trinity
Statement of Financial Position as at 31 August 2011
This Year
Equity
9905Retained Earnings Brought Forward
Net Surplus/(Deficit) this Year
Total Retained Earnings
3,675,740
(9,906)
3,665,834
Reserves
9980Revaluation Perm Fund Units
9999Revaluation Land & Buildings
Total Reserves
98,371
-
Total Equity
0420
0421
Assets
Current Assets
1000ANZ Cheque Account - Parish Accounting
042 - BNZ Imprest A/C - Gisborne
042 - Petty Cash Balance
1123Interest Accrual
1125Suspense Account
1130Goods & Services Tax
Total Current Assets
INVESTMENTS
WBDT Income Fund
WBDT Permanent Fund
Other
Total Investments
1200-1699
1700-1849
1850-1999
1180,1186,1192
1182,1188,1194
1184,1190,1196
Fixed Assets
Church Land & Buildings
Furniture & Equipment
Vicarage Land & Buildings
Total Fixed Assets
Liabilities
Current Liabilities
1145PAYE
1150Creditors
1155Grants In Advance
1040Funds on Behalf - Missions
1045Funds on Behalf - Centre Group
1050Funds on Behalf - Wholeness Donations
1055Funds on Behalf - Interfaith Group
1060Vicars Discretionary Fund
1065Missions Group Holy Trinity
1095MBTI Workshop
1100Vicars Discretionary Fund
3,646,439
84,956
(22,187)
34
15,220
1,125
3,353
(2,454)
842,252
221,869
652,824
874,693
2,839,261
2,350,000
15,854
471,808
2,837,662
2,350,000
16,818
472,443
3,766,469
782
(737)
49
891
46
0
400
402
431
-
3,709,901
538
60,829
0
791
(0)
288
284
431
300
Total Current Liabilities
2,264
63,462
Total Liabilities
2,264
63,462
3,764,204
3,646,439
Net Assets
Parish Accountant
98,371
3,764,205
171,542
670,710
-
Total Assets
3,618,156
(52,202)
3,565,954
80,485
80,485
32,147
2,306
215
15,190
138
34,960
12
13
14
Last Year
How to read financials
Statement of Financial Operations for Period ending 31 August 2011
Note 1 - Offerings/Donations
2000Offerings - Envelopes
2027Offerings - Envelopes Te Hapara
2100Offerings - Cash
2153Offerings - Cash - Te Hapara
2160Annual Giving
2200Offerings Donations
2205Offerings - Special Events
Note 2 - Other Receipts
2500Fair/Gala
2530Fundraising
2600Parish Function/Special Event
2640Catering Income
2700Weddings/Funerals/Baptisms/Blessings
2800Interest/Dividends
2900Rent - Church
2910Rent - Church Te Hapara
2940Rent - Commercial/Office
2960Rent - Cottage
2970Rent - Childcare/School
3000Rent - Hall
3002Rent - Hall Te Hapara
3100Magazine/Publication Income
3200Other Receipts
3230Community Projects
3600Special Project
3700Endowments/Bequests Received
3843Adult Activities
3950Grants - Foster Trust
Parish Accountant
MTD Actual YTD Actual
5,136
24,778
571
1,759
568
2,568
86
267
3,630
122
6,361
33,124
MTD Actual YTD Actual
89
8,901
8,901
1,508
43
478
3,038
15,190
522
522
170
170
770
2,311
2,000
711
2,133
139
2,628
814
2,064
4
210
100
150
121,617
30
500
15,209
160,507
YTD
Budget
28,875
4,450
1,040
2,915
37,280
YTD
Budget
2,085
415
250
2,500
19,635
3,900
4,165
32,950
Var to YTD
Budget
Budget
FY Budget Remaining
(4,097)
69,302
44,524
1,759
(1,759)
(1,882)
10,674
8,106
267
(267)
(1,040)
2,500
2,500
715
7,000
3,370
122
(122)
(4,156)
89,476
56,352
Last Year
YTD Actual
22,440
4,124
2,650
29,214
Var to YTD
Budget
Budget
FY Budget Remaining
(1,996)
5,000
4,911
8,901
(8,901)
1,093
1,000
(508)
(250)
600
600
(2,022)
6,000
5,522
(4,445)
47,119
31,929
(3,378)
9,360
8,838
170
(170)
2,311
(2,311)
2,000
(2,000)
2,133
(2,133)
(1,537)
10,000
7,372
2,064
(2,064)
4
(4)
210
(210)
150
(150)
121,617
(121,617)
30
(30)
500
(500)
127,557
79,079
(81,428)
Last Year
YTD Actual
1
99
693
15,220
3,570
2,160
4,866
11
26,620
How to read financials
Note 3 - Mission Giving
4000Anglican Missions
MTD Actual YTD Actual
45
45
Note 4 - Personnel Costs
5000Clergy Stipends
5050Clergy Service Fees
5100Travel Reimbursement
5200Travel - Car Depreciation
5300Clergy - Hospitality
5320Clergy - Phone & Broadband
5400Clergy - Books
5450Clergy Supervision
5460Clergy Conference
5510Wages - Parish Secretary/Administrator
5530Wages - Cleaner/Caretaker
5580Wages - Family/Youth Worker
5620Wages - Supervisor
5650Wages - Other
5750ACC Premiums
MTD Actual YTD Actual
4,179
20,828
99
130
835
126
629
(738)
145
780
800
800
1,963
7,989
1,105
5,475
1,335
7,893
9,782
44,591
Parish Accountant
YTD
Budget
480
480
Var to YTD
Budget
Last Year
Budget FY Budget Remaining YTD Actual
(435)
1,150
1,105
501
(435)
1,150
1,105
501
YTD
Budget
20,635
Var to YTD
Budget
Last Year
Budget FY Budget Remaining YTD Actual
(193)
49,520
28,692
20,523
(99)
(99)
(0)
2,000
1,165
650
105
250
250
(4)
1,500
871
677
738
738
415
1,000
1,000
446
(365)
1,000
220
280
(800)
(800)
(904)
17,000
9,011
8,029
(475)
12,000
6,525
4,416
4,165
10,000
10,000
544
(1,643)
15,000
7,107
125
300
300
231
1,064
109,570
64,979
35,795
835
105
625
415
415
7,085
5,000
4,165
6,250
125
45,655
How to read financials
Statement of Financial Operations for Period ending 31 August 2011
Note 5 - Parish Operating Costs
6000Advertising
6020Church Stores/Supplies
6030Cleaning
6050Audit Fees
6080Fair Expenses
6100Kitchen & Cleaning
6210Bank Charges
6230Catering Expenses
6250Choir & Music
6280Flowers
6290Worship Resources
6300Communion Supplies
6500Printing Stationery
6510Computer Expenses
6520Photocopying Charges & Rental
6530Subscriptions/Copyright
6540Library
6550Postage
6600Telephone - Church
6605Telephone - Clergy/Vicarage
6610Telephone - Mobile
6620Telephone - Yellow Pages
6650Community Projects
6695Alpha & Discipleship Courses
6700Christian Education
6710School Aged Activities
6712Kids Church Expenditure
6715Youth Activities
6720Adult Activities
6721Divorce Care
6725Evangelism & Outreach
6735Pastoral Care/Hospitality
6750Conferences/Seminars/Training
6790Volunteer Expenses
6800Sundry Expenses
6820Drop In Centre Expenses
6850Parish Functions
6860Synod Expenses
6900Weddings/Funerals Costs
6920Special Events
Parish Accountant
MTD Actual YTD Actual
(41)
15
23
48
705
49
49
192
8
80
236
85
685
33
39
467
45
187
417
1,725
434
918
918
289
297
1,407
168
1,013
1,253
150
(35)
91
80
80
3
114
150
1,031
106
144
111
379
88
219
325
398
300
665
(43)
1,015
223
223
21
331
62
3,076
14,897
YTD
Budget
415
85
165
210
65
125
250
250
40
125
835
210
625
315
1,165
1,000
835
415
415
85
415
40
415
40
415
8,955
Var to YTD
Budget
Budget
FY Budget Remaining
456
1,000
1,041
62
200
177
(540)
400
(305)
210
500
500
(49)
(49)
(127)
143
(49)
45
300
220
14
600
364
(435)
600
(85)
7
100
67
(39)
(39)
(342)
300
(167)
648
2,000
1,813
210
500
500
(1,100)
1,500
(225)
(434)
(434)
(918)
(918)
26
750
461
(242)
2,800
1,393
1,000
2,400
2,400
(1,013)
(1,013)
(1,253)
(1,253)
685
2,000
1,850
(91)
(91)
335
1,000
920
(3)
(3)
301
1,000
886
(946)
200
(831)
(144)
(144)
415
1,000
1,000
(379)
(379)
(219)
(219)
(358)
100
(298)
(300)
(300)
415
1,000
1,000
(665)
(665)
(975)
100
(915)
(223)
(223)
84
1,000
669
(62)
(62)
(5,942)
21,493
6,596
Last Year
YTD Actual
1,417
513
220
70
383
271
856
368
178
1,996
1,242
789
86
40
516
794
200
218
878
11,036
How to read financials
Note 6 - Assessments/Levies
7000Parish Assessment
7100Anglican Missions Board
7400Donations
MTD Actual YTD Actual
2,379
10,638
943
4,217
500
3,322
15,355
YTD
Budget
8,750
3,000
85
11,835
Note 7 - Property Costs
8000R & M - Church Buildings
8020R & M - Hall
8050R & M - Organ/Piano
8100R & M - Vicarage
8150R & M - Cottage
8200R & M - Equipment
8270R & M - Grounds
8300Insurance - Church
8350Security/Fire Alarm
8400Power/Gas - Church
8404Power/Gas - St Nicolas
8405Power/Gas - Te Hapara
8420Power/Gas - Hall
8440Power/Gas - Cottage
8600Rates - Church
8610Rates - Vicarage
8620Rates - Cottage
8660Rates - Hall
8661Rates - Hall Te Hapara
8700Rent
MTD Actual YTD Actual
115
340
69
13
87
275
1,272
1,008
4,353
121
332
484
1,267
41
400
(23)
616
1,432
49
444
790
1,003
709
1,414
1,177
508
554
345
345
4,320
15,220
YTD
Var to YTD
Budget
Last Year
Budget
Budget FY Budget Remaining YTD Actual
415
300
1,000
885
263
415
75
1,000
660
2,661
250
250
600
600
317
210
141
500
431
668
1,540
40
(47)
100
13
625
(1,272)
(1,272)
1,388
5,000
647
12,000
7,647
3,245
145
(187)
350
19
55
835
(432)
2,000
733
880
(400)
(400)
410
(616)
(616)
1,875
443
4,500
3,068
2,184
(444)
(444)
343
250
(753)
600
(403)
698
1,040
(374)
2,500
1,086
1,106
915
(262)
2,200
1,023
576
(554)
(554)
(345)
(345)
660
11,390
(3,830)
27,350
12,130
17,618
Parish Accountant
Var to YTD
Budget
Last Year
Budget FY Budget Remaining YTD Actual
(1,888)
21,000
10,362
9,121
(1,217)
7,200
2,983
3,000
(415)
200
(300)
(3,520)
28,400
13,045
12,121
How to read financials
Statement of Financial Operations for Period ending 31 August 2011
Note 8 - Op Shop
Operating Costs
MTD Actual YTD Actual
YTD
Budget
Var to YTD
Budget
Last Year
Budget FY Budget Remaining YTD Actual
Note 11 - Capital Projects
MTD Actual YTD Actual
YTD
Budget
Var to YTD
Budget
Last Year
Budget FY Budget Remaining YTD Actual
Income
9800Church Conservation Donations
-
9801Church Conservation Grant - Lottery
9805Church Conservation Grant -Other
9820Church Conservation Expenses
9865Furniture & Equipment Expenses
Surplus/(Deficit)
-
Parish Accountant
10,000
(23,971)
(13,971)
2,000
24,442
10,000
(144,206)
(5,757)
(113,521)
(2,085)
(2,085)
2,000
24,442
10,000
(144,206)
(3,672)
(111,436)
-
(2,000)
-
(5,000)
(5,000)
(24,442)
(10,000)
144,206
757
108,521
(31,967)
(31,967)
How to read financials
Statement of Financial Position as at 31 August 2011
Note 12 - WBDT Income Funds
1650
1652
1653
1654
1656
1658
1660
1662
1664
1666
1668
1675
042 - WBDT C R Willis Fund - 3437
042 - WBDT CPW Investment - 3420
042 - WBDT Conservation Fund - 3421
042 - WBDT Est D J Pilmer - 3430
042 - WBDT Est H J Phillips - 3438
042 - WBDT Est M M L Cooper - 3428
042 - WBDT Est V Ferdinando - 3435
042 - WBDT General Fund - 3440
042 - WBDT Land Trust - 3415
042 - WBDT Maintenance Fund - 3425
042 - WBDT Welfare Fund - 3410
043 - WBDT Vicarage Fund - 4060
Total
85
66,400
48,859
5,000
247
2,163
19,394
3,377
6,706
7,634
11,077
600
Last Year
161,137
5,000
-
29,784
3,201
7,128
4,759
10,860
-
171,542
221,869
Note 13 - WBDT Permanent Funds
This Year
Last Year
1827042 - WBDT Court Trust (Units) - 6155
1831042 - WBDT T Price Fund (Units) - 6150
1833042 - WBDT W O'Halloran Units - 6160
56,250
173,077
441,383
54,750
168,461
429,613
670,710
652,824
Total
Parish Accountant
This Year
Journals – Parish Accountant
• Corrections to coding/data entry errors should be completed
on correct form and should include reason.
• Journals will be dated in the system on the 1st of the month
following the original transaction.
Budgets
• Why do we need them:
• Help us ensure you have considered your income and
expenditure for the year and have a plan in place.
• Variances to budgets highlights potential issues for your
Vestry to consider.
• Items outside budget should be approved by vestry before
processing.
Payroll
• Your Parish Vestry has responsibilities under the Employment
Relations and Holidays Acts as well as other legislation
• http://www.dol.govt.nz/er/
• Timesheets, Leave Applications, Payroll Changes, Termination
documents must be received by the 16th. They must be
authorised by an approved person.
• Blank forms are available on
http://www.waiapu.com/resources/managementinformation/parish-accounting/forms
Payroll – cont’d
• New Employees must provide the following documents before they will
be paid:







Signed Employment Agreement
Full Job Description
Completed “New Employee” form
Bank Deposit Slip
IR330 (Tax Code Declaration)
Kiwisaver Declarations – KS2 and KS10 if opting out
Personal Email Address for payslips
Minimum Adult Wage $13.75 p/hr
http://www.dol.govt.nz/infozone/myfirstjob/employers/checklist.asp
Parish Administrator
Payroll – cont’d
• Common issues with paperwork
- Sending start and finish times rather than hours worked eg
8.30am to 4.00pm
- Including hours paid last month on current timesheet
- Sending details of hours worked by volunteers
• Payments to Clergy/Organists and others for services must go
through payroll
• http://www.ird.govt.nz/non-profit/np-staff/honoraria/
Parish Administrator
Payroll – Timesheet,
variable hours
Parish Administrator
Payment for Service
Honoraria
• Honoraria are payments made for services provided where no
fixed payment would normally be made. They are treated as
wage payments for tax purposes.
• Examples – running a Op Shop, playing the organ at services,
taking services.
Taxing honoraria
• If you are paying honoraria to an employee, we need to put
these through payroll so please send us all the details
• http://www.ird.govt.nz/non-profit/np-staff/honoraria/
Payment for Expenses
Reimbursing expenses
• Volunteers often incur expenditure associated with their
voluntary activities. This could be from the activity itself or
their travel to or from the activity.
• Reimbursement payments are treated as tax-exempt income
for the individual if they are based on:
o actual expenditure, or
o a reasonable estimate of the likely cost i.e. mileage claims
Payables/Parish Admin
Waiapu Board Investments
• If you have surplus funds or ear marked gifts that are not
needed in the short term you can earn interest on the funds
with the Waiapu Board.
• The Board operates 2 funds, a income fund (suits short to
medium term investments), and a permanent fund (suits
deposits of greater than 1 year in length).
Parish Accountant
Income Fund
• Last year paid 4.75% pa
• Invest a $1 and get back $1 + interest
• Interest Paid annually on 31st March
• Value of the fund $17m
• Invested in Bank Call Accounts, Corporate Bonds, and
Mortgages
Permanent Fund
• Last year paid 11.0% per unit
(or 4.89% per $1 invested)
• Invest a $2.25 and get 1 unit
• Sell the unit and get the exit price at the time
• Interest normally Paid annually on 31st March
• Value of the fund $13m
• Invested in Corporate Bonds, Equities, and Commercial
Property
Responsibility
Wardens are responsible for all activities of the Parish including:
• Financial Management and Reporting
• Budgeting
• Financial Audits
Vestry is responsible for:
• Employment and Legislation (being good employers)
• Providing consistent, mission focused and future orientated
planning of finances, property maintenance, leadership
succession.
By
• Following Process
• Transparency of Transactions
Best Practice
Moving towards best practice means consolidating processes
between Diocese/parishes
Separation of duties
• Ensure that payment documents are processed correctly by
having different people involved in the payment process. This
principle is called separation of duties.
• Best practice is to have different people:
o Approve purchases – Vestry, minutes
o Receive ordered materials
o Approve invoices for payment – Warden/Treasurer
o Review and reconcile financial records – Wardens/Vestry
Parishes
Best Practice cont’d
• Potential consequences if duties are not separated:
o Erroneous or fraudulent invoices approved for payment
o Unauthorized payments made to non-existent vendors
• So transparency in all transactions is essential. If we ask a
question it will be from an audit point of view.
Compliance + Accountability + Transparency + Consolidation
= Efficiency
We are here to assist.. So please call us!
WHAT NOW?
• Website – forms upgrade
• Website – copy of this power point loaded
• Payroll
• review of employment agreements
• standard job descriptions coming
Question and Answer
Time