Firstly, a huge thank you for all that you do in your role as treasurer. We say this every year, but as a treasurer you are an essential member of your PCC/DCC and the church across the Diocese simply couldn’t operate effectively without you. You have a pivotal role to play in stewarding the church’s resources and supporting mission, so a sincere thank you for all your hard work.
This letter is our usual way of updating you on some key matters to be aware of and a reminder about the various forms that we would like you to complete in the months ahead.
Parish Share
Thank you for your Parish Share pledge for 2016. We have now received pledges from most parishes, but if you have yet to let us know, please contact the Finance Team as soon as you can.
Thus far, the majority of parishes have increased by an average of 5%, but owing to a small number of parishes that have significantly decreased their pledges, there is every indication that our target for Parish Share in 2016 will be missed. This shortfall is likely to lead to a budget deficit of around £450k for 2016 and as a result the Diocesan Synod has voted to request a revised budget in May 2016, a review of the Parish Share system and a suspension of recruitment to permanent parish clergy and diocesan posts until that revised budget is agreed.
This decision was on the understanding that further meetings would take place with parishes that had reduced significantly in recent years or were giving at lower levels than expected. The discussion at Synod was engaged and constructive and reflected the seriousness of the situation (and the Diocesan Synod report is available on our website). It is likely that we will be in touch in the new year to discuss individual Parish Share situations with treasurers, clergy and churchwardens or PCCs.
As for looking ahead to 2017, we will update you on any changes, but at this stage we still anticipate needing your PCC/DCC’s Parish Share pledge for 2017 by 30th November 2016 at the latest.
Claiming Gift Aid and new declaration wording
A number of changes have been announced recently by HMRC concerning Gift Aid, the most significant of which are a change to the Gift Aid declaration wording and a forthcoming increase in the GASDS limit.
Gift Aid form – multiple donations
Gift Aid form – single donations
Gift Aid checklist
The checklist above will help you stay on top of the Gift Aid changes, along with details of the new declaration wording.
Recent research suggests that across the Church of England, parishes are under claiming Gift Aid to the tune of approximately £10 million and there is plenty more detailed guidance to assist with maximisng Gift Aid at www.parishresources.org.uk/giftaid
Changes to CBF Fund payment dates
If your PCC has any money held or invested in the various CBF Church of England Funds, please be aware that CCLA have recently announced a number of changes, including to the timing of distributions and interest payments.
An extra interest payment from the CBF Deposit Fund will be made on the 31st December 2015, following the usual scheduled payment on the 30th November 2015. From 1st January 2016, quarterly interest payments will be made on 31st March, 30th June, 30th September and 31st December.
In respect of the other CBF Funds (excluding the CBF Property Fund), there will be an additional payment for December with an ex dividend date of the 31st of that month. From 1st January 2016, the ex dividend dates will be 31st March, 30th June, 30th September and 31st December. All distributions after November 2015 will be made two months after the ex dividend dates, including the CBF Investment Fund which has previously distributed income one month after the ex dividend date.
Roof Repair Fund
If your church is listed, you should know that applications for the second round of the Listed Places of Worship Repair Fund opened on the 2nd December 2015. Applications for grants between £10,000 and £100,000 will be accepted from listed places of worship across the UK, where roof and rainwater goods repairs are deemed to be urgent. The application period has been extended from the first round to be 12 weeks, with a deadline of midday on 26th February 2016.
New SORP / FRS 102
As you may be aware, the framework that defines the way that charities (like PCCs) prepare their annual accounts is changing. This is largely to do with the introduction of a new accounting standard (FRS 102) and the new Charity SORP (Statements of Recommended Practice) and your accounts for the year ending 31st December 2015 will be the first set prepared under the new SORP.
In practice, the changes are not likely to be that significant for most PCCs, with new guidance coming out from the National Church in 2016. For PCCs preparing accounts on a ‘receipts and payments’ basis, the advice is to continue using the guidance contained in PCC Accountability. For PCCs preparing accounts on an ‘accruals’ basis, a really useful summary of the main changes can be found at www.charitysorp.org/media/623816/charity-sorp-help-sheet-2.pdf
Pensions automatic enrolment
One of the hot topics for those PCCs that have employees is pensions auto-enrolment. From the national advertising campaign, you will hopefully be aware of the Government’s requirement for all employers to enrol their eligible employees in an approved pension scheme, with the roll-out having started with large employers in 2012 and with all employers (including PCCs) to be covered by 2018.
FAQ leaflet produced by the Church of England Pensions Board (CEPB)
FATCA forms (Foreign Account Tax Compliance Act)
We are aware that a number of parishes have been contacted by their banks recently with requests to complete forms in relation to the Foreign Account Tax Compliance Act (FATCA).
These forms are complicated and most banks will be asking their customers to complete them over time. Thankfully, our National Church colleagues have produced some excellent guidance on how to complete these forms and this is now available at www.parishresources.org.uk/fatca.
PCC Legacy Toolkit
A new resource for parishes has been produced on the topic of encouraging giving through legacies. We have ordered one per PCC/DCC and will be sending these out to you as soon as they have arrived at the Diocesan Office.
Giving in Grace
Another new resource that we are hoping to use across the Diocese is the Giving in Grace stewardship material. The website at www.givingingrace.org is full of great advice on running a stewardship programme and good practice. It comes highly recommended.
Parish Resources website
One of the key resources that is always worth reminding you about is the Parish Resources website. It has been produced and is regularly updated by the Church of England’s National Stewardship & Resources team and is full of useful guidance on all aspects of stewardship, administration and management in the local church. It can be found at www.parishresources.org.uk
Parish Buying
A related resource to remind you about is the Church of England’s Parish Buying initiative. This allows parishes to buy a range of supplies, including energy, photocopying, office products, I.T., fire safety, church supplies and telecoms, from a range of approved suppliers and nationally agreed deals.
They have recently added boilers to their growing list of products and may be worth a closer look. More information about Parish Buying can be found at www.parishbuying.org.uk
Insurance cover
One other way that parishes can potentially save money is by regularly reviewing your insurance policies to check whether you can reduce your premium, either by increasing your excess from the standard or reducing your level of cover. If you think that this might be worth pursuing please contact Ecclesiastical or your alternative insurer.
Come and see us
As ever, we would like to extend an open invitation for you to come and see us at the Diocesan Office if you have any queries, concerns or other matters that we could help with.
If you would like to pop in and see us, please let Kelly know on 0117 906 0100 or email finance@bristoldiocese.org
The Diocesan Office has good transport links, disabled access and directions can be found on our website at www.bristol.anglican.org/who-we-are/contact-us/directions/
Team news
After nearly 5 years with the Diocese, we will be saying goodbye to Natalie at the end of December. Many of you will have dealt with Natalie in relation to trusts and investments and I hope you will join us in wishing her well for the future.
You may also have noticed (below) a new name from last year’s update, with Charlotte having joined the team in the Summer . Among other things, Charlotte will be looking after parochial fees and collating the Returns of Parish Finance and Annual Report and Financial Statements.
Finally
May we wish you a very happy and peaceful Christmas!
Matthew Hall (Head of Finance)
Andy Webb (Diocesan Accountant)
Natalie Wright (Finance Officer)
Kelly Rutter (Finance Assistant)
Charlotte Jenkins (Finance Information Assistant)
DATES FOR YOUR DIARY (click here)
Investment Seminar (with CCLA)
Date & time: March 2016 – TO BE CONFIRMED
Venue: Central Bristol – TO BE CONFIRMED
Outline: Once again representatives from CCLA Investment Management Ltd will be coming to Bristol in 2016 to share their wisdom on how to best manage your PCC’s investments. This session will be specifically focused on Church of England parishes and the feedback of their seminar in 2015 was very good.
Treasurers’ forum
Date & time: Wednesday 20th April 2016 (7pm to 9pm)
Venue: Diocesan Office, Hillside House, 1500 Parkway North, Stoke Gifford, BS34 8YU
Outline: This session will provide some training and updates, along with the opportunity to share your experiences with (and hopefully learn from) other treasurers from across the Diocese. Please note that this date is a change from previously advertised.
New Treasurer training session
Date & time: Thursday 9th June 2016 (7pm to 9pm)
Venue: Diocesan Office, Hillside House, 1500 Parkway North, Stoke Gifford, BS34 8YU
Outline: The session is especially for those new to the role of treasurer or those who want to brush up on the overall role and responsibilities of being a treasurer.
Parish Officer Training Day
Date & time: Saturday 26th November 2016
Venue: TO BE CONFIRMED
Outline: In October 2015, we held a Parish Officer training day (9.30am to 3pm) at Sheldon School in Chippenham, which included specific training for treasurers, as well as other sessions on a wide variety of topics. We are planning another similar day on the 26th November 2016, so please put that date in your diary and share it with others on your PCC/DCC.
FORMS REQUIRED IN 2016
1. Fees for offices / Monthly fees return 2016
2. Standing Order for Parish Share 2016
3. Return of Parish Finance 2015
4. Annual Report & Financial Statements
1. Fees for occasional offices / monthly fees return
2016 sees a number of small changes to the fees payable to the DBF and PCC.
Fees table 2016
Master copy of the monthly fees return, updated for 2016.
A personalised form for your parish has been posted, but please refer to the fees table when completing your return and charging fees for services.
Please note that for any form that combines more than one parish, a copy of the form has been sent to each parish to make sure that it (hopefully) reaches the person that completes the returns.
If you have a month when no fees are payable, then a simple note or email to us is sufficient. You do not have to send in a blank form, but you can advise us of a nil return, by sending an email to fees@bristoldiocese.org
This email address can also be used to send completed returns.
As an alternative to sending us a cheque, we welcome you using internet banking or electronic transfers to pay fees in to our bank account:
Sort code 60-17-12
Account no 66909333
Account name Bristol Diocesan Board of Finance
If you do pay us using internet banking, can we please ask you to make sure that you advise us of the transfer when you make it, so that we can correctly attribute the payment when received? Please quote the ST number that is on the right hand side towards the top of your personalised form.
It is also worth noting that for 2016, the occasional duty fee payable to a retired stipendiary cleric for a Sunday (or weekday) service is calculated at 50% of the funeral fee, and so it remains at £48.00. The maximum casual duty fee for a day therefore also rises to £96.00.
Finally on fees, please bear in mind that we cannot send retired clergy or self-supporting ministers their proportion of the fees for services they conduct for your parish until we receive the form and payment from you.
In order to unduly affect their valued ministry in your parish, please ensure that fee returns and payments are sent to us regularly and ideally on a monthly basis.
2. Standing Order for Parish Share 2016
A standing order form for Parish Share was posted to Treasurers.
Payment by monthly standing order is the most cost effective way of receiving Parish Share payments, as it minimises our administration costs and it is hopefully less time-consuming for you. The majority of our expenditure occurs in equal measure throughout the year and so having income to match it also means we do not have to draw on reserves.
If you have not given by standing order in the past, can you please consider doing so, not necessarily for the whole of your pledge, but at least for some of it?
We have personalised the standing order form with your parish’s unique Parish Share reference, but please return the standing order form to us as it helps us keep a track of when to expect standing order payments.
3. Return of Parish Finance form
Once again we would like to ask you to complete a Return of Parish Finance. This information enables more informed planning and support at deanery, diocesan and national level.
Over the past few years we have asked you to use a web-based system for the collection of these forms, which has helped us make the best use of our resources. We would very much like to encourage you to do this for the 2015 forms but if you have difficulty making the online submissions, please let Charlotte in our Finance Team know and she will be able to enter them on your behalf.
2015 Return of Finance Form
The deadline for submitting the Return of Parish Finance form is 31st May 2016.
Copies of the Return are also available at parishreturns.churchofengland.org
4. Annual Report & Financial Statements
Finally, just a reminder about sending us a copy of your PCC’s Annual Report and Financial Statements. After being independently examined or audited, these should be sent to us within 28 days of your APCM, and certainly no later than 31st May 2016.
Please send these to us for the attention for of Charlotte or alternatively you can email a scanned copy to finance@bristoldiocese.org
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Resources for Treasurers