Home » News » Bush Telegraph » Issue archive » April 2003 » Finance

Finance Newsletter

Computers

March has been a very difficult month with the failure of one of our computer servers. It was a very old machine and would have been replaced at the time a new system was introduced. Unfortunately it failed before the July implementation date. A replacement server was purchased. Some delays were experienced in getting the new server running. These delays were caused by problems with software supplied by other parties and added a little more than a week to the time taken to get operational. The odd teething problem has occurred since the new server went on line and these have been dealt with as and when they have occurred. The new system is now considered to be fully operational.

During the period the computer was down our internet service provider was holding e-mails sent to the office but it is possible that some messages may have been lost. If you have not received a response to an email sent since 7 March it will pay to check whether it has been received.

Despite the problems with the existing system we are making good progress towards identifying its replacement. The current failures are a timely reminder of the types of events we need to protect ourselves against when selecting a new system. We remain on target to have a new accounting package running from the beginning of the new financial year. A recommendation on a new system will go before a meeting of the steering group overseeing the implementation on 15 April.

The patience and understanding you have demonstrated during this difficult period is appreciated. We are working hard to ensure that the problems we have experienced recently are not repeated in the future.

 

Statements

Processing has fallen behind due to the problems noted above. February transaction processing is complete but we will hold February statements for distribution with the March mailing. We trust this will not cause too much inconvenience. March statements are likely to be a little later than normal due to the timing of the Easter break. Easter Tuesday is officially a holiday for the Assembly Office.

Amalgamated Investment Fund

The interest rate paid on deposits with the Amalgamated Investment Fund remains at 6.75% per annum.

Ministers Mortgages

The interest rate payable on Ministers' mortgages remains at 7.35 % per annum.

Budget

The budget to fund the work of General Assembly is a major focus for the Administration & Finance policy group at this time of the year. The Service Team and the policy group members have done an enormous amount of work to prepare the budget proposal. A deficit budget was proposed. After much discussion the March meeting of the Council of Assembly asked for more information about funding options available, where cost under-runs might occur and for some further short term reductions in spending.

Single Assessment

The single assessment to fund the work of General Assembly will be introduced in July 2004. The longer timeframe for introducing the levy will allow Administration & Finance to explore the options for how income is defined and the role of Presbyteries, with the wider church. A proposal for income definition will be brought to the Tutahi Tatou regional meetings in September 2003. The Tutahi Tatou meetings are organised by the Council of Assembly and are open to everyone. Watch Bush Telegraph and the sPanz for more information about them.

Statistics

The collection of statistics will be commencing shortly. Forms will be despatched to parishes in May. Work should now commence on making sure your rolls are correct. Remember that the single assessment uses both income and roll numbers in its calculation. The statistics we collect at the end of June will be those used to calculate your parish's single assessment in 2004. To save problems later your rolls should be reviewed and updated before the end of June. Perhaps the review should be an agenda item for your next session or board of managers meeting.

2002 Statistics

The statistics for the 2002 year will be available on the web site early in May. If you do not have access to the web site or require them before that date please contact Katrina Graham (ph 04-381-8283 or katrinag(at)presbyterian.org.nz in this office and she will sent you a hard copy.

Geoffrey Bell
Manager, Financial Services