Managing Trustees and Methodist Money

The following index contains underlined links to the various sections of the book 'Managing Trustees and Methodist Money', published in 2001. Each section has been listed as a separate Adobe Acrobat file to facilitate quicker downloading. To view the files, you will need Adobe Acrobat Reader which is available for free from the Adobe web site. Click the icon below to download the latest version from Adobe.
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Please Note: - This document available below was published in booklet form in the year 2000. Much of the content remains relevant especially in the areas focusing on the principles and responsibilities of trusteeship. The most significant changes have been in the accounting methods and financial reporting and in 2009 the changes in property legislation affecting Part 9 of Constitutional Practice and Discipline of the Methodist Church. As the original booklet is now out of print no paper copy of this is available. This web version is updated as legislation changes. 

CONTENTS

INTRODUCTION

EXCEPTED STATUS
1 Each local Church is a charity
2 Not registered - but excepted
3 Annual report and accounts
4 Schedule B

RESPONSIBILITIES OF THE MANAGING TRUSTEES (updated March 2010)
5 Stewardship of our resources
6 Church Council responsibilities
7 Obtaining appropriate approvals
8 Legal liabilities
9 Particular trustee responsibilities

THE APPOINTMENT OF THE TREASURER (updated March 2010)
10 Appointment

KEEPING THE BOOKS (updated March 2010)
11 Treasurer's duties
12 What records to keep
13 What to include

PREPARING THE YEAR END ACCOUNTS
14 Methods of accounting
15 Receipts and Payments basis
16 The statement of assets and liabilities
17 Accruals accounting - guidance
18 The year end procedure and timing
19 Specimen set of Church Accounts
20 Cash Analysis Book
21 & 22 Standard Forms of Accounts

ACCOUNTING METHOD AND ACCOUNTS SCRUTINY (updated March 2010)
23 Method of preparation of accounts
24 Level of accounts scrutiny required

DISTINGUISHING INCOME AND CAPITAL (updated March 2010)
25 Income
26 Capital
27 Distinguishing Income and Capital (Endowment)
28 Calculating Gross Income (and Total Expenditure)
29 Capital (Endowment) in the Methodist Church

FUNDS AND THEIR ASSETS (updated March 2010)
30 The difference between Funds and Accounts
31 Different Types of Fund
32 Unrestricted funds
33 Designated funds
34 Restricted funds
35 Endowment funds
36 Identifying the particular type of fund

INDEPENDENT EXAMINATION
37 When an independent examination is required
38 Choosing an independent examiner
39 The Independent Examiner's Task

AUDIT
40 When an audit is required
41 Qualification required

THE ANNUAL REPORT (updated March 2010)
42 What to include
43 How to go about the task
44 How to set it out

OTHER INTERNAL ORGANISATIONS (updated March 2010)
45 Internal organisations under the control of the Church Council
46 External groups and organisations responsible for their own finances

THE METHODIST CHURCH AND ITS MAIN FUNDS (updated March 2010)
47 The main (restricted) funds of the Methodist Church
48 The unrestricted Methodist Church Fund

OFFERINGS FOR EXTERNAL ORGANISATIONS (updated March 2010)
49 how to deal with offerings for external organisations

INVESTMENTS
50 Guidance for investing local Church funds
51 The role of the Trustees for Methodist Church Purposes (TMCP)
52 The role of The Central Finance Board of the Methodist Church (CFB)
53 The role of the Methodist Chapel Aid Association Limited (MCAA)

LOANS
54 How to deal with loans in the annual accounts
55 Arranging a loan

PROPERTY VALUATION (updated March 2010)
56 Accruals Accounting
57 Receipts and Payments
    Investment property, leases and licences

BEQUESTS
58 Express trusts
59 Permanent endowment
60 Model Trust bequests

TRADING
61 Implications of trading by local Churches
62 Distinguishing between charitable and non-charitable trading

LEGAL AND OTHER REQUIREMENTS
63 Methodist Church Act 1976
64 Model Trusts
65 Standing Orders
66 Charities Act 1993
67 The Charities (Accounts and Reports) Regulations 1995

RESERVES POLICY
68 What are reserves?
69 What level of reserves do we need?
70 Reserves policy

MISAPPROPRIATION and INCOMPETENCE
71 Action to be taken on discovery of dishonesty or incompetence

GLOSSARY OF TERMS (updated March 2010)

APPENDIX
1 Exception Order
2 Assessment/Circuit contribution
3 Advance Funds
4 Finances in ecumenical situations
5 Annual budget for property
6 Model Trust monies
7 Insurance
8 Value Added Tax (VAT)
9 Retention of documents
10 Further information

Useful Addresses

Copyright

11 Extracts of Standing Orders (updated March 2010)
12 Offerings Journal
13 Offerings Record
14 Cash Receipts form & 15 Expenses Claim Form
16 Bank Reconciliation form

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