diocese of bristol | parish officer training 2014 pcc treasurer core training matthew hall finance...

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!