Charities Services is kicking off its Lunchtime Webinar Series with an introduction to the Statement of Service Performance on 13 April 2017 at 12.00pm. IT IS FREE.
The Statement of Service Performance is a non-financial statement required under the new financial reporting standards and it’s important that you know how to use it well. In this webinar we will explain:
- how to make the Statement of Service Performance work for your charity;
- what outputs and outcomes are; and
- how you can use the Statement of Service Performance to celebrate your charity’s successes.
What’s a webinar and how does it work?
A webinar is a seminar or presentation that is delivered online.
You can participate in these sessions from your computer or any mobile device (smart phone or tablet) and it’s free. You just need a reliable internet connection. We also recommend using the internet browser Google Chrome.
All webinars start at 12.00pm and run for approximately 1 hour, unless specified.
We will be talking for around 30 minutes and at the end of the presentation, we will answer some of your questions. The final webinar will be published on our website and can be viewed any time.
Date: 13 April 2017
Time: 12.00pm – 1.00pm
Location: Anywhere with a reliable internet connection
We are aware, that historically Parishes, have setup new bank accounts for specific projects. With the increased use of Bank of New Zealand (BNZ) internet banking and the Xero accounting software, we are encouraging Parishes to consolidate the number of bank accounts held. The Connexional Office does not believe that Parishes require multiple bank accounts to administer their funds and it will make the Cash Flow Statements and Tier 4 Statement of Receipts and Payments a little less time consuming.
If funds are to be set aside for a specific purpose or project, we recommend the setting up of a Methodist Trust Association deposit rather than an individual or new bank account. This ensures the Parish has the funds kept separate from the general Parish bank account and interest is earned on the deposit.
For Parishes who do not use BNZ internet banking (that the BNZ offers at no cost to the Parish), this facility allows you to make electronic payments, download bank transactions, print out bank statements if need be and check account balance information at any time. The internet banking rules comply with the Methodist Church signatory requirements, which is two authorised people must authorise any payment from the bank account. If you would like to utilise this facility, please contact Sarah Andrews (e-mail firstname.lastname@example.org) for further information. The BNZ will waive the usual monthly fee if the completed form is sent from the Connexional Office.
People in the Lower North Island may be interested in this Workshop. Topics include:include:
- Charities Commission
- Responsibilties of Volunteers
- Health & Safety in Employment Act
- Protecting Church Buildings and Assets
- Mission Travel Insurance
- Clergy Allowance and Tax
- Key Staff and Succession Planning
- Armourbearer Insurance
- XRB Accounting Standards
- Christian Savings
- Panel Discussion
Peter van Hout will be a speaker (XRB Accounting Standards). He will remain in Wellington on the Tuesday evening and if there is enough interest he will be happy to arrange an evening meeting with Treasurers to discuss Xero and other financial reporting concerns.
The link to the above named Workshop is: CLICK ME
If you would like Peter to run a two or three hour workshop on Xero and Financial Reporting then e-mail him directly (email@example.com) by the end of March please.
409 Great South Road, Auckland
Sunday 5 March 2017
Monday 6 March 2017
We have finalised the days and times of the workshops based on feedback received and this is the programme we envisage running on these two days.
Session 1 – Sunday 5 March 2017 – 2.00pm to 5.00pm
- Advanced Topics on Xero and Financial Reporting at End of Year plus questions and answers
Session 2 – Monday 6 March 2017 – 9.00am to 11.00am
- Beginner Topics on Xero, Management Reporting and Financial Reporting at Year End plus questions and answers
Session 3 – Monday 6 March 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 24 February 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.
We are looking at having workshops in Christchurch and Wellington later in the year but do not have any dates yet.
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 409 is limited. While parking on Sunday should not be an issue, Monday car parking may be limited as staff and tenants will be in the office.
Tea, coffee and water will be made available.
The Connexional Office are looking at providing some Treasurer training which will include question and answer sessions in Auckland in either February or March of this year. The timing and number of sessions (and their length) will depend upon demand and what material you wish to cover. Our thinking at the moment is to hold the training sessions on Monday 27 February and, if necessary Tuesday 28 February but these dates are not set in stone.
We would travel to Auckland and stay for two days so could run sessions in the afternoon of one day, the evening and the following morning or some combination.
We will be focusing the training on Xero (beginner, intermediate and advanced), financial reporting as well as general “treasurer” type topics but other topics can be added, if needed.
To start with, we would like to know whether you would be interesting in attending a session and what topics of a general and specific nature you would like to know about. As a starting point, here is a list of what we have come up with.
- Who and What are related party transactions and how should I show them in my financial statements?
- What is a “commitment” for the purposes of financial statements at the end of the year?
- Do we need to put into our annual accounts?
- Who can audit and review our annual accounts?
It would be helpful for our planning if you could let us know if you would be interested in attending one (or more) of the sessions listed below
- Xero – beginner session for those who do not currently use Xero
- Xero – intermediate session for those who have been using Xero for up to a year
- Xero – advanced session for those who have been using Xero for more than a year
- Year-end financial reporting
- Question & answer session
Please e-mail Peter (firstname.lastname@example.org) or Sarah (email@example.com) by 2 February 2017. We will confirm early February the dates, session times and agenda in the following week.
There is a small issue that people need to be aware of with the GST System for the December 2016 Return. Users should download the following document and follow the instructions provided.
GST System December 2016 Returns
Questions in the updated annual return
I have mentioned that the Annual Return that you complete and send (or complete online) has changed.
This is an outline of the questions that are asked in the updated annual return. If you complete the annual return online, most general information about your charity will already be there and you can simply check and update BUT there is new information required. I have highlighted the new requirements in RED with a ⊗ beside it also.
General information about your charity
- Your charity’s legal and other name (including any trading name)
- The region(s) or country (countries) where your charity operates
- Charity’s registration number
- Postal and street address
- Phone, fax, email, website address and social media (optional)
- Details of the main contact at your charity: name, phone number and email address
- End of financial year/balance date, and
- If there have been any changes to your charity’s rules document.
Officer details – for each officer
- Full name
- Date of birth ⊗
- Officer’s position (for example, treasurer), and
- Residential address ⊗
Note: Date of birth and residential address remains confidential and will not be available on the public register
Purpose and structure
- Your charity’s purposes or mission
- Your charity’s main activity, sector and beneficiary (collected for statistical purposes), and
- A description of the structure of your charity, including any trading operations (if applicable).
- The names (and charity’s registration number, if applicable) of any entities that control or are controlled by your charity for financial reporting purposes. ⊗
- The number of paid full-time and paid part-time employees that work for your charity in an average week, and the approximate number of hours they work
- The approximate number of volunteers that work for you in an average week or year, and the average number of hours they work.
You will need a copy of your financial statements or Performance Report to complete the financial information section of the annual return form.
This section asks for information about your charity’s financial position (which covers things like receipts/income and payments/expenses) and financial performance (which covers resources/assets, commitments/liabilities, equity and other similar information). The questions are based on the minimum categories in the new reporting standards.
- The tier your charity is reporting in (This affects the financial information you will be required to include in the annual return) ⊗
- Indicate whether your charity’s performance report or financial statements have been audited or reviewed, and ⊗
- Whether your charity’s financial statements or performance report discloses any related party transactions. ⊗
In addition, you will need to know whether your charity:
- In its ordinary course of business, lends money to or on behalf of others, or manages money or funds on behalf of others ⊗
- Provided goods or services overseas in the last financial year ⊗
- Used any business income (for example, from the sale of goods or services) for charitable purposes overseas in the last financial year, and ⊗
- Received donations and used any of its funds for charitable purposes overseas in the last financial year. ⊗
Some other information
In exceptional circumstances, applications can be made for certain information to be withheld from the public register.
Proposed amendments to the Charities Act, being considered right now by a Government Administration Select Committee, would appear to remove the ability of charities to appeal any decisions of the Chief Executive of the Department of Internal Affairs.
The proposed changes have not been communicated clearly nor have they involved the sector as part of a consultation exercise to gain sector support. But it’s not too late, we have until this Friday to stop this happening.
Add your name and comments to this petition, and we’ll compile your comments into a submission to the Select Committee.
The specific impact of this change is that charities lose their ability to appeal decisions of the Chief Executive of the Department of Internal Affairs, who can decide, for example, to refuse access to the charities register, to amend the register, or that the financial statements of a charity fail to comply with a financial reporting standard.
The proposal would remove an important check and balance on the power of the Chief Executive and, in doing so, move further away from a partnership relationship between the community sector and government.
The Government must stop this ongoing process of undermining the charity sector, and the important work charities do to respond to community needs, as they see them, much more efficiently than government, and in innovative and nimble ways. Allowing charities to do that allows them to form an important glue that holds our society together.
The XRB and Charities Services invite you to join them for this free webinar.
Designed for accountants and preparers of annual accounts of small charities adopting Tier 3 and Tier 4 standards, this webinar will cover:
- How the not-for-profit standards fit into the overall financial reporting framework in New Zealand;
- Differences between the current and former financial reporting requirements;
- Some detailed aspects of the Tier 3 and Tier 4 standards; and
- New assurance requirements for charities.
Charities Services has so far received more than 500 financial reports. Learn from the regulators about some common misunderstandings to make sure you can provide compliant financial reports for your clients.
We will be running more webinars for charities in the near future on selected topics. Be sure to keep an eye out for these.
Webinar dates and times:
Tuesday 26 July 2016 at 10.00am-11.30am
Tuesday 26 July 2016 at 1.00pm-2.30pm
Wednesday 27 July 2016 at 7.00pm-8.30pm
Register in advance on the XRB website (click here).
We have received a number of inquires regarding local women’s fellowships and the need to have the financial transactions incorporated into a set of parish financial statements each financial year.
Each registered charity (for the Methodist Church that means every parish) needs to prepare financial statements which incorporate ALL of the activities of the registered charity (the parish).
As a local women’s fellowship is “attached” to a local parish are its activities are closely aligned with those of the parish, the financial transactions of a local women’s fellowship need to be incorporated into the parish financial statements each financial year. This can be achieved in a number of ways depending on the circumstances of the parish. This be discussed with the accountants in the Connexional Office if need be.
The preparers of the financial statements of the parish should make contact with the local women’s fellowship to obtain the financial transactions or financial statements of the women’s fellowship. The National Executive of the Women’s fellowship have confirmed that the financial year of a local women’s fellowship has been aligned with the the National Executive and parish balance date of 30 June so obtaining the information should not be a problem.