For all Methodist entities that report to the Conference of the Methodist Church of New Zealand, a copy of the Performance Report (your annual financial statements) needs to be with the Connexional Office by 5.00pm Thursday 12 October.
If you are NOT able to meet this deadline, please inform the Connexional Office.
Please remember that you are also required to lodge your approved Performance Report with Charities Services as part of the Annual Return. This needs to be done by 31 December 2017.
Just a reminder that your fully completed financial statements (now called the Performance Reports) need to be sent to the General Secretary at the Connexional Office by Friday 12 October 2017 at the very latest.
The annual Performance Report needs to be in a format that meets the financial reporting standard that you have elected to comply with and that you are able to use (Tier 1,2,3 or 4).
If the Operating Expenditure shown on the Statement of Financial Performance (profit and loss account) is over $500,000 this year and last year, you will require an independent assurance report (a review or audit). Please refer to the Resources Page of the Accounting Blog site for a copy of the Assurance Policy of the Methodist Church.
Just a note to remind you that the annual parish statistics information can be completed online through the GST System. The person who would normally file the monthly GST information will have the user name and password. Information on this has already been sent out.
If you require a paper based form then ask Wendy Kier for one and she will send you are copy. The completed M2 Form is due to be with Wendy by Friday 18 August 2017.
The instructions on now to complete your Parish Statistics (M2Form) online are now available. Follow this link..
Use of Online M2 Form – Parish Statistics July 2017
Christine has started up a checklist for people when they are preparing their end of year financial statements for the Church. Click on the link below.
If you have anything to add to the checklist, we would welcome your feedback to either Peter or Christine in the Connexional Office.
Finalising Transactions for the Year End
The Tier 3 PBE reporting standard (PBE SFR-A (NFP))has provisions for depreciation on what is commonly known as property, plant and equipment. There is also an Explanatory Guide A5 (EG A5) that includes some helpful information relating to how to complete the optional template for Tier 3 reporting entities.
The attached document includes an explanation on the components of depreciation that relate to buildings using the cost method and determines that depreciation for buildings with long useful lives may need to be 0%.
If you need any further assistance, please let Peter van Hout know.
Depreciation for Tier 3 Using the Cost Model June 2017
Board of Administration – 50 Langdons Road
Saturday 10 June 2017
We have finalised the date and times of a Christchurch based workshops.
Session 1 – Saturday 10 June 2017 – 9.00am to 11.00am
- Beginner Topics on Xero, Management Reporting and Financial Reporting at Year End plus questions and answers
Session 2 – Saturday 10 June 2017 – 1.00pm to 4.00pm
- Advanced Topics on Xero and Financial Reporting at End of Year plus questions and answers
We would appreciate people wanting to attend to one of the sessions to let us know which session they wish to attend by e-mailing either firstname.lastname@example.org or email@example.com by 30 April 2017.
Please let us know of any questions or topics you would like to address at any of the sessions. We will send out a detailed agenda before the date of the workshop.
While the cost of attending the workshops are free, the Board of Administration is not in a position to cover attendee’s accommodation and travel costs. If this is an issue for some attendees, please talk to your parish or synod.
Car parking at Langdons Road should not be an issue. There is parking in the front of the building, in behind the building and also on the Road. Access into the building will only be via the front entrance. The back entrance will be locked and secure.
We are also looking at using Microsoft Skype to live broadcast the workshops for those who are interested but cannot attend. More on that later.
Tea, coffee and water will be made available.
The Accountants within the office of the Board of Administration of the Methodist Church of New Zealand are in the process of planning and allocating work during July, August and September 2017.
You will appreciate that it is a busy time and they are wanting to plan their time so that they meet the time frames, for not only the regular Parishes they provide accounts to, but also Parishes that require assistance with their annual accounts.
In an endeavor to plan this work load, could you indicate to Peter van Hout (firstname.lastname@example.org) if there is a strong likelihood that the Parish will require us to assist them in completing their annual accounts to 30 June 2017. Could you let Peter know by Friday 5 May 2017 by sending him an email.