Circulars
>> 2012

Parish Financial Statements for 2012

The Financial Statements for 2012 are to be presented in the same form as for 2011, incorporating a calculation of “Net Operating Receipts” as part of the Statement of Receipts and Payments.  

Available with this memorandum is the following information relating to the parish’s Financial Statements for the year ending 31 December 2012 –

• Prescribed Financial Statements (in the form approved by Standing Committee for parishes
  not using SAPAS), including Wardens’ and Treasurer’s Report to the parishioners –
  
  o   blank Excel file (in .xls format)
  
  o   blank Adobe file (in .pdf format)

• Independent Assurance Practitioner’s Review Report to parishioners.
• Explanatory Notes supporting the Prescribed Financial Statements.
• Blank Statement of Insurance Policies arranged by your parish.

The schedule of insured values of buildings and contents for your parish and the latest statement for any ACPT client fund held on trust for your parish are both available on the secure website -

       Sydney Diocesan Secretariat Extranet (https://secure.anglican.asn.au/Extranet).

1.      Format of Annual Parish Financial Statements

(a)     Parishes using SAPAS:  

Parishes using the Sydney Anglican Parish Accounting System (SAPAS) have the advantage of being able to produce all the necessary financial statements and reports for the AGM of parishioners direct from SAPAS without needing to use the Prescribed Financial Statements described below.  The Finance Committee has authorised the use of the standard SAPAS reports as the form of financial statements to be audited and presented to the AGM of parishioners and then lodged with the Diocesan Secretary.  Please ensure reports are generated at level 3 to provide sufficient detail for review, and include comparative information for the year 2011

Parishes using the SAPAS package–

(i)      can download, from the SDS website, a blank copy of –

      the  Wardens’ and Treasurer’s Report, and

      the  Independent Assurance Practitioner’s Review Report, and

(ii)     are encouraged to check the Benkorp website, www.benkorp.com/sapas for information in relation to updates of SAPAS and MYOB.

(b)     Parishes not using SAPAS:

The format of the Prescribed Financial Statements for parishes not using SAPAS is unchanged from 2011.  The brief Explanatory Notes contain further explanation of certain items, and identify each of the particular changes to the presentation of the Prescribed Financial Statements this year, including the 3 new item numbers that were added to the report format for 2011.

The Prescribed Financ8ial Statements have been prepared and made available in two formats, both of which can be accessed using the links below -

(i)      As an Excel spreadsheet. Only the report page need be presented to the AGM of parishioners. The detailed sheet can be used to record and aggregate several separate funds to produce an overall picture of the church’s finances.  In multi-church parishes this can also enable the churches to be aggregated to produce a parish total.

Parishes are free to add or modify detail at level 3 within the detailed spreadsheet where they wish to record more information about specific transactions affecting their church.

(ii)     As an Adobe file comprising a blank set of Financial Statements which can be printed out and then completed by hand.

The signed copy of the Financial Statements together with the Independent Assurance Practitioner’s Review Report should be forwarded to the Diocesan Secretary within 7 days after it has been received by the AGM of parishioners.

2.      Building Insurance valuation summary

The Building Insurance valuation summary for your parish is available on the secure website,

      Sydney Diocesan Secretariat Extranet  (https://secure.anglican.asn.au/Extranet)

by clicking on the ‘Parish Insurance’ tab.  This contains details (generally a separate page for each building) of the insured values, ie, replacement or reinstatement estimates, for each of the parish’s major structures and these values are the recommended amounts to be used in your Financial Statements.

3.      ACPT Client Fund statements

If the Anglican Church Property Trust (ACPT) holds funds on trust for your parish you can access your ACPT client fund statement on the secure website,

      Sydney Diocesan Secretariat Extranet  (https://secure.anglican.asn.au/Extranet)

by clicking on the ‘ACPT Client Fund Statements’ tab.  The market value of any such funds at 31 December 2012 should be included in your Financial Statements.

4.      Statement of Insurance Policies 

The Wardens are required to provide a Statement of the Insurance Policies they have arranged to provide cover for workers compensation, motor vehicles and other specific risks pertaining to the parish.

(The ACPT arranges insurance for all parishes to cover the risks associated with loss or damage to buildings & contents, public liability, directors & officers, professional indemnity, voluntary workers, etc.)

5.      Timing 

The Wardens are required to forward a signed copy of the Financial Statements together with the Independent Assurance Practitioner’s Review Report and the Statement of the Insurance Policies they have arranged to the Diocesan Secretary within 7 days of the AGM of parishioners (which must be held between 1 February 2013 and 31 March 2013).

Additional copies of this circular and any of the attachments are available by telephoning 9265 1614, or they can be downloaded from the Sydney Diocesan Secretariat’s website  www.sds.asn.au by going to "For Wardens and Parish Councillors" then "Circulars" or "Financial Administration".