STATEMENT OF RECEIPTS AND PAYMENTS for the year ended 31 December 2008

Transcription

1 STATEMENT OF RECEIPTS AND PAYMENTS for the year ended 31 December 2008 ACTUAL ACTUAL BUDGET OPERATING RECEIPTS TOTAL TOTAL TOTAL L1 L2 Item No. $ $ $ (not audited) Offertories & Donations Congregation offerings Donations for the parish (excl. buildings) Gifts specifically designated for buildings # E Other building related receipts (maintenance) Received for Others Donations designated for any organisation outside the parish Other (visiting speakers, testamonials) E Grants Anglicare E Regional Council E Other Diocesan organisations E Government department/instrumentality E Finance Income Bank Interest Investment Income Other Income Insurance claims received E LSL - parish portion of Diocesan payment Sundry receipts Trading Activities - excess excess from Fundraising Events excess from Ministry Activities excess from Property Rented or Leased Receipts from within the E from other es or Funds for donations to missions SUB-TOTAL OPERATING RECEIPTS The attached Notes form part of these Financial Statements. # This account is only to be used for any gift received which is specifically designated for the purpose of - (i) the purchase of land, (ii) the purchase, construction or renovation of buildings, fixtures or fittings situated on church trust property held for the purposes of the parish, or (iii) the reduction of debt undertaken for the purposes of (i) or (ii). The calculation of 'Net Operating Receipts' is defined in the Cost Recoveries Framework Ordinance 2008 as - Gross Operating Receipts (ie. SUB-TOTAL OPERATING RECEIPTS - see above) = less exclusions (the 8 line items marked with an "E" in Operating Receipts - see above) = less deductions (the 2 line items marked with an "D" in Operating Payments - see page 2) = = 'Net Operating Receipts' (used to calculate the variable PCR charge) = page 1 of 8

2 STATEMENT OF RECEIPTS AND PAYMENTS for the year ended 31 December 2008 (continued) ACTUAL ACTUAL BUDGET OPERATING PAYMENTS TOTAL TOTAL TOTAL L1 L2 Item No. $ $ $ (not audited) Ministry Staffing Stipends, Salaries, Allowances, MEA entitlements Superannuation (excluding component in PCR) Cost Recoveries Resources for Ministry Ministry services Donations To Christian organisations outside the parish from general parish funds Passing on donations designated for D organisations outside the parish To another from general parish funds D Gifts & Testimonials Hospitality Poor Relief Administration Salaries and superannuation of administrative staff Office Expenses Consumables Professional Services Advertising Property & Motor Vehicle Expenses Utilities (council rates, electricity, gas, water, etc) Repairs & Maintenance Improvement Projects Lease/Rent for Assistant Minister(s) residence Motor Vehicle expenses Other Expenses Trading Activities - deficiency deficiency from Fundraising Events deficiency from Ministry Activities deficiency from Property Rented or Leased Payments within the to other es or Funds SUB-TOTAL OPERATING PAYMENTS OPERATING SURPLUS / (DEFICIT) (OPERATING RECEIPTS less OPERATING PAYMENTS) The attached Notes form part of these Financial Statements. page 2 of 8

3 STATEMENT OF RECEIPTS AND PAYMENTS for the year ended 31 December 2008 (continued) ACTUAL ACTUAL BUDGET OTHER RECEIPTS AND PAYMENTS * TOTAL TOTAL TOTAL L1 L2 Item No. $ $ $ (not audited) ADD Redemption of Investments Glebe Administration Board Bank Term Deposits Proceeds from Sale of Assets Building Contents, Furniture & Equipment Buildings Land New/Additional Borrowings New endowment gifts / capital (where the capital is to be held for the benefit of the parish) LESS New/Additional Investments Glebe Administration Board Bank Term Deposits Purchase of Assets Building Contents, Furniture & Equipment Buildings Land Repayment of Borrowings OVERALL EXCESS/(DEFICIENCY) OF RECEIPTS OVER PAYMENTS BALANCE (OVERDRAWN) AT 1 JANUARY BALANCE (OVERDRAWN) AT 31 DECEMBER Note * If the church/parish uses a double-entry accounting system (such as the MYOB-based SAPAS package) the receipts and payments affecting all these assets and liabilities should be recorded directly against the relevant asset or liability. If that is the case the whole of this Other Receipts and Payments section should be left blank. The attached Notes form part of these Financial Statements. page 3 of 8

4 TRADING ACTIVITIES included in the General Fund ACTUAL ACTUAL BUDGET TOTAL TOTAL TOTAL L1 L2 Item No. $ $ $ (not audited) RECEIPTS Fundraising Event income Ticket sales Gross Takings Ministry Activity income Gross Takings Property Income Lease Rentals Licenced Use Fees Casual Booking Fees TOTAL RECEIPTS PAYMENTS Fundraising Event expenses Supplies Equipment hire Ministry Activity expenses Supplies Property Expenses Utilities (council rates, electricity, gas, water, etc) Maintenance & Repairs Improvement Projects Agency Management Fees TOTAL EXPENSES EXCESS transferred to General Fund - Receipts DEFICIENCY transferred to General Funds - Payments page 4 of 8

5 STATEMENT OF ASSETS AND LIABILITIES as at 31 December TOTAL TOTAL L1 L2 Item No. $ $ ASSETS Cash Assets Bank Accounts Ministerial Expense Accounts Petty Cash Floats Trust Accounts Debtors Other Assets Investments Glebe Administration Board Bank Term Deposits Building Contents, Furniture & Equipment Rectory Hall Buildings Rectory Hall Land Rectory Hall TOTAL ASSETS LIABILITIES Payables Creditors Deposits Held Funds Held for On-payment Accruals Owed to Ministers re MEA balances Employee liabilities Taxes Summary GST Collected GST Paid to Suppliers PAYG Payable Loans Bank Loans ioners' Loans Finance & Loans Board Loans Provision Funds Building Fund Missions Fund Organ Fund Technology Fund TOTAL LIABILITIES OVERALL EXCESS OF ASSETS OVER LIABILITIES page 5 of 8

6 The attached Notes form part of these Financial Statements. page 6 of 8

7 NOTES TO THE PRESCRIBED FINANCIAL STATEMENTS for the year ended 31 December 2008 STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES The significant policies which have been adopted in the preparation of the Prescribed Financial Statements (the Financial Statements) which comprise the Statement of Receipts and Payments and the Statement of Assets and Liabilities are: (a) Basis of Preparation The Financial Statements have been drawn up as a special purpose financial report for distribution to the parishioners of the of The wardens of the parish have applied the following accounting policies in the preparation of the Financial Statements (i) The Financial Statements have been prepared on the cash basis of accounting using the historical cost convention and going concern assumption. OR (i) The Financial Statements have been prepared on an accrual basis of accounting using the historical cost convention and going concern assumption, except as affected by policies below. (ii) Other Accounting Standards and mandatory professional reporting requirements in Australia have not been applied except as stated below. Except where stated the Financial Statements do not take into account changing money values or fair values of assets. (iii) These accounting policies have been consistently applied and, except where there is a change in accounting policy, are consistent with those of the previous year. The Financial Statements have been prepared based on the underlying accounting records of the. (b) Revenue Recognition Cash amounts received are recognised at fair value of the consideration received net of the amount of goods and services tax (GST) payable to the Australian Tax Office. Exchanges of goods or services of the same nature and value without any cash consideration are not recognised as revenues. Interest revenue is recognised when it is received. (c) Property and Equipment Building contents, furniture and equipment are stated at replacement value for insurance purposes. Land is shown at Valuer General s valuation. Other assets are shown at historic cost. (d) Employee Benefits Liabilities for employee benefits in relation to wages, salaries, annual leave and sick leave represent present obligations resulting from employees services to year end. They are calculated at undiscounted amounts based on remuneration wage and salary rates applicable at year end and include allowance for related on-costs, such as workers compensation insurance and payroll tax. (e) Income tax In accordance with Division 50 of the Income Tax Assessment Act 1997, the is exempt from income tax. (f) Goods and services tax Revenues, expenses and assets are recognised net of the amount of goods and services tax (GST) except where the amount of GST incurred is not recoverable from the Australian Tax Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of the expense. page 7 of 8

8 Wardens and Treasurer's Report to the ioners for the year ended 31 December 2008 In our opinion, the financial statements of for the year ended 31 December 2008 have been (a) properly drawn up so as to give a true and fair view of the receipts and payments during the year and the assets and liabilities at the end of the year, and (b) comply with the provisions of the Administration Ordinance Signature Warden's name (print).. Signature Warden's name (print).. Signature Warden's name (print).. Signature Treasurer's name (print).. Date Auditor's Report to the Annual General Meeting of ioners I have examined the books and records of the wardens of for the year ended 31 December Scope Pursuant to the Administration Ordinance 2008, the wardens are responsible for the preparation of the financial statements in the format last prescribed by Standing Committee and have determined that the accounting policies used are appropriate to meet those requirements. I have conducted an independent audit of the financial statements in order to express an opinion to the annual general meeting of parishioners on the preparation and presentation of those financial statements. No opinion is expressed as to whether the accounting policies used are appropriate. I disclaim any assumption of responsibility for any reliance on this report or on the financial statements to which it relates to any person other than the parishioners of the parish, or for any purpose other than that for which it was prepared. My procedures included examination, on a test basis, of evidence supporting the amounts in the financial statements, examination of statements or other documents supporting amounts of bank accounts and other investments and borrowings and the evaluation of significant accounting estimates. These procedures have been undertaken to form an opinion whether, in all material respects, the financial statements presents fairly in accordance with the accounting policies set out in the notes to the financial statements, so as to present a view which is consistent with my understanding of the requirements of the Administration Ordinance, including the format of reporting required pursuant to that ordinance. The audit opinion expressed in this report has been formed on the above basis. Audit Opinion In my opinion the financial statements (a) have been properly drawn up so as give a true and fair view of the receipts and payments during the year and the assets and liabilities at the end of the year, and (b) comply with the provisions of the Administration Ordinance Signature Name (print).. Qualification (if applicable). Address.. Date Phone (w) page 8 of 8