Monthly Archives: September 2019

Performance Reports (end of Year Financial Statements) – 30 June 2019

Just a reminder that all Methodist Church entities that report either directly or indirectly to the Conference of the Methodist Church need to supply the General Secretary with a final signed copy of their Performance Report (financial statements) for the 12 months ending 30 June 2019 by 11 October 2019. PLEASE put a reminder in your diary or let the person doing the work know of the deadline.

These Performance Reports need to comply with generally accepted accounting practice, which for most Church entities means that they comply with the Tier 3 or Tier 4 reporting standards as issued by the External Reporting Board.

The Annual Return for those Church entities whose financial year end is 30 June 2019 (as set out in the Law Book) needs to include the Performance Report.  This needs to be filed with Charities Services by 31 December 2019.

Also a reminder that you need to also look at  your constitution and the Independent Assurance Policy of the Church to see if you also require an audit or review. For Parishes and Synods, the general rule is that if your operating expenditure is under $500,000 then you do not need either a review or an audit.  If your operating expenditure is between $500,000 and $1,000,000 then you will need to have a independent review undertaken.  If your operating expenditure is over $1,000,000 then you will need an audit.  For some entities it is mandatory that an audit or review to be undertaken.  This work needs to be undertaken by a qualified person. A qualified person is defined within the Financial Reporting Act as a person who is professional qualified to undertake the work.

If an independent audit or review IS undertaken, then any management report/letter received from auditor  or reviewer will also need to be sent to the General Secretary.

The Independent Assurance Policy can be found HERE .

Annual Returns to Charities Services-Its that Time of Year Again!!!!

For most of the Methodist Church of New Zealand, the financial year end is 30 June and therefore the Annual Return to Charities Services is due by 31 December.  The 31 December is coming up very quickly and therefore, if your entity (Parish, Synod, Charitable Trust, etc.) has NOT already filed its Annual Return and checked to make sure the Officers listed on the Charities Services website are correct PLEASE do so as quickly as possible.

You will need your annual accounts that comply with the  financial reporting standards that were mandatory three years ago.

In the past Charities Services have given time extensions but their stance on this is hardening and extensions of time are becoming more difficult to obtain.  The Annual Return takes about 20 minutes to 30 minutes to complete (assuming you have all the correct information) and can be done online.

If you require assistance, please let Peter van Hout at the Board of Administration know.

Overpayment Scam Targeting Charities

We have been informed that online scammers are targeting New Zealand charities with an overpayment scam. The scammers are targeting all donation channels including donation forms on charity websites, phone donations as well as third party online platforms.

 

We have been advised that scammers are making donations using stolen credit card details. After donating, they will contact the charity directly to request a refund for a claimed overpayment. They may give realistic excuses, such as trying to convince you they intended to donate $100 instead of $1,000 and will experience personal hardship if the money is not returned. They may imply they are calling on behalf of a donor or are the donor themselves.

 

They ask you to return the overpayment to a bank account or a different credit card to the one used in the original transaction. The scammer hopes you will return the money before realising the donation was fraudulent.

 

If you receive a direct refund request for a donation, always review the transaction details with the entity who processed the transaction before agreeing to a refund.

 

Never agree to refund a credit card donation to a bank account or a different credit card. Be wary of online donors who claim they’ve donated too much or made an error when entering their donation amount.