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PCC Treasurer core training

PCC Treasurer core training. Matthew Hall Finance Manager. The Treasurer. The responsibility for both raising and spending money to meet the PCC’s responsibilities lies with the PCC The Treasurer implements their decisions The Treasurer provides financial leadership.

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PCC Treasurer core training

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  1. PCC Treasurer core training Matthew Hall Finance Manager

  2. The Treasurer The responsibility for both raising and spending money to meet the PCC’s responsibilities lies with the PCC The Treasurer implements their decisions The Treasurer provides financial leadership

  3. Special considerations Handling cash Collection records Bank accounts Bank signatories Payments Investments

  4. Main duties Carry out financial decisions of PCC Record financial transactions Help with PCC’s financial obligations Prepare annual financial statements Draft annual budget Advise PCC on financial position

  5. Accounting & Reporting 2 options for producing annual accounts Receipts & payments Accruals Accruals basis, if gross income is over £250,000 Must be accompanied by a Trustees’ Report

  6. External scrutiny Gross income under £250,000 Independent examiner Gross income over £250,000 Qualified independent examiner Gross income over £500,000 Full audit

  7. 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

  8. Fund accounting Common to PCC accounting Know and clearly identify your funds Unrestricted Designated Restricted Endowment

  9. Reserves Decide where your reserves will be invested Develop a policy on the level of reserves and why they are needed Review periodically

  10. Return of Parish Finance Issued by Archbishops’ Council Restatement of PCC financial statements Enter online (with statistics for mission) www.parishreturns.churchofengland.org

  11. Key dates Year end – 31st December Annual report and accounts to Diocesan Office – within 28 days of APCM (30th April) Return of Parish Finance – 30th May Charity Commission Annual Return – 31st October

  12. Other matters of interest…

  13. Charity Status Unless already registered…PCCs are ‘excepted’ charities In 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

  14. Gift Aid & GASDS Encourage Gift Aid Keep records Maximise Gift Aid Higher rate tax payers Gift Aid Small Donations Scheme Consider online / mobile giving

  15. Listed Places of Worship Grant Scheme Makes grants towards the VAT incurred in making repairs and carrying out alterations to listed buildings mainly used for public worship See www.lpwscheme.org.uk

  16. New SORP Statement of recommended practice The framework for charity accounting FRS102 www.charitysorp.org

  17. New SORP Some minor changes to SOFA Slight changes to trustees report Year ended 31st December 2015 Watch this space …

  18. Employing staff PAYE (pay as you earn) RTI (real time information) No longer special arrangement for Local Religious Centres (LRCs) Consider what constitutes ‘employment’

  19. Auto-enrolment Know your staging date Know who to enrol Choice a pension provider Complete declaration and maintain records Know your ongoing responsibilities Re-enrolment

  20. Auto-enrolment – choice of schemes TWO suggestions CEPB Pension Builder 2014 NEST You can choose an alternative

  21. Auto-enrolment – contributions

  22. Fees for occasional offices Fees split between DBF and PCC DBF fees legally payable Monthly returns (and payment) to Diocesan Finance Team BDBF pays retired clergy / SSMs

  23. Resources Parish Resources website (www.parishresources.org.uk) HMRC website PCC Accountability book Charity Commission website Charity Tax Map ACAT www.thepensionsregulator.gov.uk

  24. Diocesan Finance Team Andy Webb ACMA Matthew Hall FCA Natalie Wright Kelly Rutter

  25. Thank you!

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