diocese of bristol | parish officer training 2014 pcc treasurer core training matthew hall finance...
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Diocese of Bristol | Parish Officer Training 2014
PCC Treasurer core trainingMatthew HallFinance Manager
Diocese of Bristol | Parish Officer Training 2014
The TreasurerThe responsibility for both raising and spending money to meet the PCC’s responsibilities lies with the PCCThe Treasurer implements their decisionsThe Treasurer provides financial leadership
Diocese of Bristol | Parish Officer Training 2014
Special considerationsHandling cashCollection recordsBank accountsBank signatoriesPaymentsInvestments
Diocese of Bristol | Parish Officer Training 2014
Main duties
Carry out financial decisions of PCCRecord financial transactionsHelp with PCC’s financial obligationsPrepare annual financial statementsDraft annual budgetAdvise PCC on financial position
Diocese of Bristol | Parish Officer Training 2014
Accounting & Reporting2 options for producing annual accounts
Receipts & paymentsAccrualsAccruals basis, if gross income is over £250,000Must be accompanied by a Trustees’ Report
Diocese of Bristol | Parish Officer Training 2014
External scrutiny
Gross income under £250,000Independent examinerGross income over £250,000Qualified independent examinerGross income over £500,000Full audit
Diocese of Bristol | Parish Officer Training 2014
Charity Commission registration
• Gross income under £100,000– Excepted from registration with Charity
Commission
• Gross income over £100,000– Register with Charity Commission
• Dispensation available for one-offs
Diocese of Bristol | Parish Officer Training 2014
Fund accountingCommon to PCC accountingKnow and clearly identify your funds
UnrestrictedDesignatedRestrictedEndowment
Diocese of Bristol | Parish Officer Training 2014
Reserves
Decide where your reserves will be investedDevelop a policy on the level of reserves and why they are neededReview periodically
Diocese of Bristol | Parish Officer Training 2014
Return of Parish FinanceIssued by Archbishops’ CouncilRestatement of PCC financial statementsEnter online (with statistics for mission)www.parishreturns.churchofengland.org
Diocese of Bristol | Parish Officer Training 2014
Key datesYear end – 31st DecemberAnnual report and accounts to Diocesan Office – within 28 days of APCM (30th April) Return of Parish Finance – 30th MayCharity Commission Annual Return – 31st October
Diocese of Bristol | Parish Officer Training 2014
Other matters of interest…
Diocese of Bristol | Parish Officer Training 2014
Charity StatusUnless already registered…PCCs are ‘excepted’ charitiesIn accordance the Parochial Church Council (Powers) Measure 1956, the PCC is not required to be incorporated but has the status of a body corporate with perpetual succession, but without a common seal
Diocese of Bristol | Parish Officer Training 2014
Gift Aid & GASDS
Encourage Gift AidKeep recordsMaximise Gift AidHigher rate tax payersGift Aid Small Donations SchemeConsider online / mobile giving
Diocese of Bristol | Parish Officer Training 2014
Listed Places of Worship Grant SchemeMakes grants towards the VAT incurred in making repairs and carrying out alterations to listed buildings mainly used for public worshipSee www.lpwscheme.org.uk
Diocese of Bristol | Parish Officer Training 2014
New SORP
Statement of recommended practiceThe framework for charity accountingFRS102www.charitysorp.org
Diocese of Bristol | Parish Officer Training 2014
New SORP
Some minor changes to SOFASlight changes to trustees report Year ended 31st December 2015Watch this space …
Diocese of Bristol | Parish Officer Training 2014
Employing staffPAYE (pay as you earn)RTI (real time information)No longer special arrangement for Local Religious Centres (LRCs)Consider what constitutes ‘employment’
Diocese of Bristol | Parish Officer Training 2014
Auto-enrolmentKnow your staging dateKnow who to enrolChoice a pension providerComplete declaration and maintain recordsKnow your ongoing responsibilitiesRe-enrolment
Diocese of Bristol | Parish Officer Training 2014
Auto-enrolment – choice of schemesTWO suggestions
CEPB Pension Builder 2014NESTYou can choose an alternative
Diocese of Bristol | Parish Officer Training 2014
Auto-enrolment – contributionsDate Employer minimum
contributionTotal minimum contribution
Employer's staging date to 30 September 2017
1% 2%
1 October 2017 to 30 September 2018 2% 5%
1 October 2018 onwards 3% 8%
Diocese of Bristol | Parish Officer Training 2014
Fees for occasional officesFees split between DBF and PCCDBF fees legally payableMonthly returns (and payment) to Diocesan Finance TeamBDBF pays retired clergy / SSMs
Diocese of Bristol | Parish Officer Training 2014
ResourcesParish Resources website (www.parishresources.org.uk)HMRC websitePCC Accountability bookCharity Commission websiteCharity Tax MapACATwww.thepensionsregulator.gov.uk
Diocese of Bristol | Parish Officer Training 2014
Diocesan Finance Team
Matthew Hall FCA
Natalie Wright
Andy Webb ACMA
Kelly Rutter
Diocese of Bristol | Parish Officer Training 2014
Thank you!