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General

From October, I have taken over responsibility for Finance. We are managing a number of staff and workload changes. Some staff have departed and recruitment is underway, while the Beneficiary Fund administration is being managed by Aon from 1 October.

<typohead type="2">Current focus </typohead>

 

1. Audit

We are striving to complete the Assembly’s audit for the year to June 2004 and there are only some minor matters to be addressed. Analysis of the accounts will be done following their completion.

2. Insurance

The annual insurance renewal process for the insurance year starting 1 August 2004 is substantially completed. There are still a number of parishes yet to pay their insurance invoices, which are now overdue.

3. Assembly assessment

Assembly voted to conduct a three-year trial of the Assembly Assessment (formerly known as the Single Assessment) from 1 July 2004 to 30 June 2007. After the trial, presbyteries, UDCs, sessions and parish councils will discuss the system.

The Assembly Assessment for 2004/05 comprises:

 Other

$2,757,746  

66%  

 Beneficiary Fund

$1,064,875

26%

 Seniority Allowance Levy  

$350,000

8%

 Total to be recovered

$4,172,621

100%

 

We find it helpful and efficient for parishes to pay their Assembly Assessment by direct debit. Any parishes that wish to be added to the direct debit list please let me know.

We request the support of parishes to pay their Assembly Assessment in a timely manner, which avoids difficulties and extra costs in managing the Assembly’s funds.

We pay the Beneficiary Fund amounts each month and pay out the Seniority Allowance annually, which comprise 34% of the total sum.

4. Balanced Budget 2005/06

Following a series of amendments, Assembly also agreed to encourage the Council of Assembly to adopt a balanced budget for the 2005/6 financial year. The Council will also be encouraged to ensure that the Assembly Assessment for that year reflects a realistic income from parishes.

5. Assembly Assessment

We will commence invoicing Assembly Assessment in July. A set amount of data entry needs to be completed before 1 July. So that we can complete this process on time we will accept changes to the parish financial information used to calculate the Assessment until 16 June. Refer to your letter on the Assessment for further details. A number of parishes have responded on this matter and we have adjusted their income where it includes amounts that are not subject to the Assessment.

Future focus

Priorities for the coming months include completion of the audit and recruitment and training of new staff. The aim is to develop a high performing Finance Team that is responsive, efficient and effective. More information about our progress in these areas will be included in coming newsletters.


Andrew Jackson
Assistant to AES (Finance)