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Finance

Acceptance and Assessment Rates
Audits and Best Practices
Clergy Salary Schedule
Supply Clergy Rates
Diocesan Investment Trust (DIT)
Diocesan Budget
Lay Pension Resources
Stewardship
Tax Resources

Acceptance and Assessment Rates

The Diocesan Convention has established the 2019 assessment rate as 12% to be applied to line A, normal operating income (NOI) of the 2017 Parochial Report.  The 2019 acceptance rate is 3% to be applied to line A, normal operating income (NOI) of the 2017 Parochial Report.

The income for the diocesan budget consists of both assessments and acceptances.

Click here to download parish Assessment and Acceptance list.

Audits and Best Practices

The Parish Audit Team, composed of volunteers from throughout the diocese, is accepting requests from parishes which need assistance to conduct their audits. Volunteers will audit only the 2018 fiscal year. No prior years will be audited. To request an audit, please contact Libby House, Treasurer of the Diocese. Parishes will be scheduled for an audit in the order of requests received and when materials needed for the audit have been collected. Before requesting an audit, a parish must:

  • Prepare and approve the 2018 end of year financial statements
  • Submit the 2018 Parochial Report
  • Prepare all documents in the “Items Needed for Audit” checklist linked below

Items Needed for Audits (Word)          Items Needed for Audits (PDF)

The auditor will go over the Internal Controls in advance of conducting the audit and, during the process, will help parishes to improve financial controls and accountability as parish resources allow.

 

Best Practices

The Finance Committee has provided the following documents and forms for conducting self-audits and for suggested use in bookkeeping and accounting procedures, which may be used by any parish

Asset Worksheet (Word)Auditor's Workbook (Word)Credit Card Documentation (Word)Internal Control (Word)Journal Entry Documentation (Word)Rector Discretionary Account Documentation (Word)
Asset Worksheet (PDF)Auditor's Workbook (PDF)Credit Card Documentation (PDF)Internal Control (PDF)Journal Entry Documentation (PDF)Rector Discretionary Account Documentation (PDF)

If you have any questions, please contact Libby House.

Clergy Salary Schedule

The salary schedule for clergy employees is established by the Diocesan Convention. View the 2019 Schedule.

Supply Clergy Rates

The Clergy Supply Schedule for 2019 as set by Diocesan Convention are as follows

ServiceRate
1 Service (Saturday or Sunday) $130.00
 2 Services (Saturday or Sunday) $160.00
 3 Services (Saturday or Sunday) $190.00
 1 Major Service (Holy Week, Christmas, Funeral) $130.00
 Midweek Service $80.00

The Supply Clergy be reimbursed for travel at the current IRS rate.

Diocesan Investment Trust (DIT) Withdrawal, Deposits & New Accounts

View last quarter’s performance

Withdrawals from existing accounts:

Vestries will need to complete the withdrawal form and insure the proper signatures are on the form. Three signatures are preferred, but two are acceptable. The completed DIT Distribution form should then be scanned and emailed to the accounting office. For withdrawals in excess of $5,000 the accounting office may contact the parish to confirm the withdrawal. The accounting office will then forward the request to the custodian who will process the request within the next two business days. A copy of the request will be kept on file at the diocesan office.

Deposits to existing accounts:

Traditional Mail – vestries will approve, complete and sign the DIT Contribution Form and mail to the custodian with a check; also email a copy of the completed and signed deposit form to both the custodian and the accounting office.

Electronic Transfer – email the completed and signed deposit form to the custodian and the accounting office.

New accounts:

Please contact Cynthia Bakos in the accounting office for new DIT account forms.

Key Contacts:

Cynthia Bakos, Accounting

 

Diocesan Budget

For more information on the diocesan budget and budget process visit the Diocesan Budget page.

Lay Pension Resource

Online tools for understanding and complying with the Church-wide Lay Employee Pension System are available from The Church Pension Group’s  Lay Pensions Resource Center.

Stewardship

Shining Our Light is a comprehensive and flexible program available through The Episcopal Network for Stewardship (TENS) that can help congregations of any size improve their annual giving and planned giving. Pledge cards, weekly reflections, prayers, and other materials are all readily available and can be tailored to meet specific needs. Please contact Paula Lapinski if you’d like to receive login information to access materials at no cost.

The Rev. Charlie Barebo, missioner for stewardship and development, can help parishes that are interested in implementing the Shining Our Light program by offering training and additional information. Email Charlie Barebo.

Tax Resources

2016 Federal Reporting Requirements for Episcopal Churches

This guide from the Church Pension Fund is an important resource to assist treasurers, wardens and administrators in complying with federal reporting obligations for your church relating to the withholding and reporting of employee income taxes and Social Security and Medicare taxes. This guide will also assist in completing your Affordable Care Act tax reporting obligations. Find the guide online.

Church Law Today
Managed by Christianity Today, this website publishes updates on church law and taxes and has a legal and tax library.

IRS Rates

Beginning on Jan. 1, 2019, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 58 cents per mile for business miles driven
  • 20 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

More info at www.irs.gov.

Tax Information for Churches and Religious Organizations
An IRS publication  that provides guidance on obtaining and keeping tax exempt status, employment taxes, unrelated business income taxes, employee business expenses, record keeping and filing requirements.