ANNUAL FINANCIAL RETURN FOR THE YEAR ENDED 30 APRIL Dear Treasurers. Parish Governance Statute 2016
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1 FOR THE YEAR ENDED 30 APRIL 2017 Dear Treasurers Enclosed is your 2017 Annual Financial Return pack for your Parish. This pack is also downloadable from the Diocesan website at Included with the pack are Guidance Notes that will assist you with the completing the Annual Financial Return. The Guidance Notes cover the more common items and give direction on where these items should be placed on the return. Please complete and return one copy of the Return together with a copy of your Parish Annual Accounts as presented to your Annual Meeting. Please include details showing how the figures in the Annual Financial Return have been calculated where they are not directly identifiable from the Annual Accounts. Parish Governance Statute 2016 The Parish Governance Statute 2016 ( PGS 2016 ) has now replaced the Ordering of Worshipping Communities Statute There are some key changes in the PGS 2016 compared with the previous statute of which you need to be aware: Ordinary Income (Part 14, Section 66.3(a)): This has been amended to clarify that for the purposes of this Statute the ordinary income of a parish shall include the following income, net of related expenses: (i) receipts from fetes, bazaars, all other special activities; (ii) rental from rectories leased out by a parish; and (iii) income from opportunity shops or similar; Reduction of Assessment: (Part 14, Section 66.5): The Statute has been amended to provide for a reduction in assessable income: (d) any moneys paid to Diocesan Council for the support of other parishes in the Diocese; Requirement for and duties of the Auditor, Reviewer or Independent Examiner (Part 13, Section 65): The requirements and income thresholds have been amended as follows: Every parish whose "gross income": (a) exceeds $1,000,000 must appoint an Auditor; (b) exceeds $250,000 but does not exceed $1,000,000, must appoint either an Auditor or a Reviewer, at the direction of parish council and subject to the discretion of parish council; and (c) is less than $250,000, must appoint an Independent Examiner. For the purposes of determining gross income, you should use the ordinary income determined in accordance with Section 66.3 plus excluded income in accordance with Section An Independent Examiner means a person who has been certified by the Diocesan Secretary as having the requisite ability and practical experience to carry out a competent examination of the accounts of the parish. K:\Diocesan Registrar\Annual Returns\2017 Annual Returns\2017 Financial Returns\Letter To Treasurers Re Financial Returns Docx
2 Your Annual Financial Return and Annual Accounts are required to be forwarded to the Diocesan Registrar promptly following your Annual Meeting and no later than 31 July 2017 as a requirement of PGS 2016 Section 59.1 (i) (iii). If the audit, review or examination of the Annual Accounts is not complete by the due date, the Annual Financial Return must still be returned to the Diocesan Registrar with draft Annual Accounts by the due date. A copy of the audited, reviewed or examined accounts with a suitable auditor's or examiner s certificate should then be submitted as soon as possible. Should you have any queries when completing the Return, please contact either Emer McFadden (emcfadden@perth.anglican.org) or Torsten Marsden (tmarsden@perth.anglican.org) Kind regards Torsten Marsden Chief Financial Officer
3 FOR THE YEAR ENDED 30 APRIL 2017 Guidance Notes Guidance on Specific Items in the Annual Financial Return 1. Item 4 Net Income Parish Properties Net income from parish properties is now also to include the net income from Opportunity Shops. 2. Item 17 - Monies raised by Special Collections and not from normal Parish funds for purposes outside the Parish and applied for that purpose This item refers to monies collected over and above normal offerings (i.e. collections and pledges) by the Parish to be applied to the purposes for which the special appeal or collection was raised. Common items of this nature are Christmas Bowl, Lenten appeals, ABM, CMS, BCA and any other special appeal which the Parish might be approached to support. Please provide a detailed breakdown of the total shown under Item 17 if not clearly identified in the accounts. Payments to the particular organisation for which the collection was raised must be shown under Item 29 of the return - see comments below. 3. Item 18 - Monies raised for restoration of Historical Buildings Only monies specifically collected or raised for the purpose of restoration of buildings of the Diocese - classified by the National Trust of Australia (WA) or the Heritage Council of WA to be of historical significance - qualify for Exemption from Assessment. 4. Item 19 - Donations for capital works projects; Item 20 - Collections for discharging arrears; and Items 23 - Interest excluded in exceptional circumstances Only after the approval of Diocesan Council, can these monies qualify for Exemption from Assessment. 5. Item 21 - GST For those Parishes/Worshipping Communities who account for their income and expenditure net of GST, there should be no difficulty in completing the Return. If Parishes/Worshipping Communities have a separate account in which they account for the GST on income paid to the ATO, this should be included in Item 21. Any GST received should be netted off against payments. 6. Item 26 - General Expenditure Running Expenses A breakdown of Parish running expenses is required as set out in Section D of the return: (a) Ministry costs to include remuneration costs of clergy and lay ministry (stipends, salaries, allowances, superannuation etc.) (b) Property Repairs and Maintenance includes repairs and maintenance costs of churches, halls, rectories and other buildings (c) Other costs costs which do not fit into any of the separate categories 7. Item 29 Monies Applied to Purposes Outside the Parish This expenditure item corresponds with Income listed under Item 17 of the form. The Expenditure should equal the income reported under Item 17 unless the parish has not paid out all funds collected in full by 30 April or if the payment includes monies collected in the previous year. K:\Diocesan Registrar\Annual Returns\2017 Annual Returns\2017 Financial Returns\Annual Financial Return Guidance Notes Docx
4 8. Item 30 - Expenditure for Purposes Outside Parish from Parish Funds This expenditure will cover any payments made from parish funds to outside organisations or for purposes not recognised as deductible under Items 33 and 34 of this Return. 9. Items 33 Payments Directly from Parish Funds to Listed Organisations Expenditure shown as deductible under Item 33 is for payments from Parish funds to the approved missionary bodies mentioned: ABM, CMS, SAMS, SPCKA, BCA, National Home Missions Fund and Missions to Seafarers. 10. Items 34 Payments Directly from Parish Funds to Entities Recognised under Sections 1 (1) (g) and 1 (1) (h) of The Constitution Act of the Diocese of Perth 1871 Payments to an entity recognised under Sections 1 (1) (g) and 1 (1) (h) of The Constitution Act of the Diocese of Perth 1871 in support of the ministry of a Parish member who is formally engaged in Ministry with that entity. The entities receiving the payments must be listed in the notes to Section E of the Return. Payments must not include monies paid out from Special Collections or monies paid to any other bodies (e.g. school chaplaincies) that the Parish may choose to support from its own funds. This must all be shown under Item Item 37 Clergy Travelling Costs (Country parishes only) This represents travelling expenses of country clergy in excess of the standard travelling allowance as set by the Diocese. Detailed Breakdowns on Items To assist you in preparing the Annual Financial Return, notes are included in the pack to allow you to allocated individual items of income and expenditure into the correct categories. Please ensure that you use these, as they will provide the necessary details required by the Diocese and ensure that you Annual Financial Return correctly classifies each item of income and expenditure. Reconciliation of Annual Financial Return and Financial Accounts The results reported in the Annual Financial Return must reconcile to the Annual Accounts approved at the Annual General Meeting in accordance with the Parish Governance Statute (f) (iii) (A) & (B). Where you are reporting items of income and expenditure in the Return that do not correspond directly with the amounts reported in the Annual Accounts please provide notes that show how the figures relate to each other. Examples of this would be where an amount is reported in the Annual Financial Return as Net Income e.g. Items 3 and 4 but reported as gross income and expenditure in the Annual Accounts. Budget 2017/2018 The column in the Return headed Budget 2017/2018 must be completed with the budget of anticipated income and expenditure. The figures reported in the Budget 2017/18 column must be the budget of anticipated income and expenditure approved by the Parish Council and the Annual General Meeting in accordance with the Parish Governance Statute (f) (iii) (C) and 59.1 (i) (i) (iii). ACNC Annual Reporting Information Please ensure that the details required to be provided by the Parish are recorded. (a) Numbers of paid employees and volunteers - If you do not have exact during the year, please use your best estimate of the average numbers. (b) Turnover Please report the turnover figure as appears in your annual accounts.
5 COVER PAGE FOR THE FINANCIAL YEAR ENDED 30 APRIL ANNUAL FINANCIAL RETURN DETAILS: PARISH: TREASURER: AUDITOR / REVIEWER/ INDEPENDENT EXAMINER: 2. CHECKLIST ITEM INCLUDED / COMMENTS Annual Financial Return: Results for 2016/17 Financial Year Budget for 2017/18 Financial Year ACNC Information Annual Accounts: Statements of Income and Expenditure for the 2016/17 Financial Year Statement of Assets & Liabilities Audit, Review or Independent Examiner Report: Report on the Annual Accounts: o Audit or Review: Report to the Annual Meeting in accordance with Australian Auditing Standards; or o Independent Examiner Report: Report to the Annual Meeting in accordance with Diocese policies Report to the Diocesan Council and to the Annual Meeting upon any irregular or illegal maters. 3. WHEN COMPLETED Send this Cover Page, Annual Financial Return, Annual Accounts and Audit/Review/Independent Examination report to: Diocesan Registrar registrar@perth.anglican.org
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