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Contents

1. New finance team members

Paula Rae has started as the Senior Accountant. Kathy Duffin has also started and will be working on getting debtors information to various parishes and presbyteries, and seeking payment of outstanding balances.

2. Current workload issues

Audit

The audit is complete and 2004 financial accounts will be distributed shortly.

Parish statistics as at June 2004

The annual statistics were due at Assembly Office by the end of August, and regrettably, a large number of parish statistics remain outstanding. This was highlighted at the recent Council of Assembly meeting and Councillors’ assistance was sought to obtain the remaining statistics.

Monthly Assembly accounts

Producing monthly Assembly accounts is the next key initiative for Finance - this will assist decision-making by having better financial information. In the past, monthly operating costs have been reported but not full accounts.

Assembly Assessment and overdue accounts

In general most parishes are paying Assembly Assessment in a timely manner.

The work on overdue accounts has commenced to recover outstanding money owed to the Assembly. There are some historic accounts that are substantially overdue, and this situation is financially unsustainable for the Assembly. Where amounts are overdue, approaches for payment are being made.

In addition, unpaid parish accounts will be shared with their presbyteries to keep them informed of the situation. Presbytery assistance may also be sought to facilitate payment or resolving matters.

3. Insurance prompt payment discounts

Many parishes are asking for the prompt payment discount to be refunded direct to their bank accounts or by cheque.

The Insurance renewal is now complete and parishes that have made payment before the end of September have been credited with their prompt payment discount. Loans have been set up for the remaining insurance debts over $1,000.

Many thanks to parishes that have assisted by returning the Insurance advice documentation and have made payments by the due date. This has greatly assisted the insurance fund to take advantage of the lower insurance premiums offered by EIG Ansvar.

As in the past three years, it is not policy to repay this discount in cash unless the parish account is in credit.

Parishes have the option of offsetting the discount against an older charge, or if the account is in credit we will refund the credit balance back to the parish.

The insurer has now renewed third party and professional liability insurance. The delay was due to insurers requiring a review of some of this cover. The liability charges will be sent out early in November. These charges do not qualify for the early payment discount but the administration charge has been reduced to 10% from 17.5%.

The 2004/2005 insurance manual will also be sent out to the parishes early in November. There are very few changes in this year’s manual, so the 2003/2004 manual may be used in the meantime. The procedure for claims is the same as last year – ring AON Risk Services 0800 50 20 20.


Andrew Jackson
Manager Financial Services