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 email@example.com) for further information. The BNZ will waive the usual monthly fee if the completed form is sent from the Connexional Office.