2016
Annual Financial Report
Diocese of Des Moines
Finance Department
Parish/School: Ss. John and Paul ParishCity: Altoona
Contact: David Ortega
Phone: 515-967-3796 / Email:
Annual Financial Report Instructions
This report covers the fiscal year July 1, 2015 to June 30, 2016. All year-end entries should be posted and account reconciliations completed before reviewing the Financial Statements with the Finance Council. Once the Finance Council reviews and approves the Financial Statements, the year-end closing process should be completed.
The following information should be presented to the Pastor/Principal, Finance Council, and trustees for their review and approval:
· Statement of Financial Position: June 30, 2015 and 2016 balances
· Statement of Dedicated Accounts: June 30, 2016
· Statement of Activities: Year to Date, June 30, 2015 and 2016; Annual Budget June 30, 2016
· The following Annual Survey, completed
This completed Annual Financial Report should be sent or emailed to the Diocese of Des Moines Finance Office by September 15, 2016.
Annual Survey
The following survey should be completed by the Pastor/Principal and parish or school staff with the assistance of the Finance Council. Check Yes, No, or N/A in response to each question or fill in the requested information.
/ Yes / No / N/A /1. Does the parish have a Finance Council that operates in accordance with the guidelines issued by the Diocese:
a. Did the Finance Council meet at least quarterly in fiscal year 2016? / x /
b. List the dates of the meetings / 7/28/15, 9/17/15, 10/15/15, 11/19/15, 12/19/15, 1/21/16, 2/18/16, 3/17/16, 4/21/16, 5/24/16, 6/28/16
c. Are there five or more members? / X /
d. Have all current Finance Council members served for six or less consecutive years? / X /
e. Did the Finance Council maintain written minutes of each meeting? / X /
f. At each meeting, did the Finance Council review full and complete financial statements printed directly from ConnectNow Accounting (see 3 bullet points listed above)? / X /
g. Did the Finance Council approve an annual operating budget for FY2017? / X /
h. Are fiscal year-end financial statements that were approved by the Finance Council presented annually to parishioners, parents, and/or patrons? / X /
i. What date were they last presented? Will be part of our Capital Campaign newsletters and brochure in September and October
2. Is the activity in Funds Held for Other accounts (#2400 – 2450) reviewed by the Finance Council? The account balances are reviewed by Finance Council but not the activity. It would require running another report so that the activity can be reviewed. We can, however, implement this practice with future meetings. / / X
3. Does the parish/school have any long-term debt that is not on the Statement of Financial Position? Not applicable for this fiscal year. / /
4. Does the parish have any past due bills? / / X
5. Was the Bishop's approval (proxy) obtained before:
a. Initiating a building project of $25,000 or more? / X / /
b. Selling parish/school property worth in excess of $25,000? / / / X
c. Executing any loan/mortgage/line of credit? / X / /
6. Did the Finance Council approve an annual operating budget for fiscal year 2017? (1.g. above) / X /
7. Are all second collections remitted within 30 days of the collection? Yes if all funds are received within 30 days. Some funds are mailed to the office weeks after the collection. / /
8. Are all bank and investment accounts reported on the parish’s/school’s financial statements (Including CDs and any Altar & Rosary and Home & School accounts)? / X /
9. Does the Pastor/Principal have signatory power on all checking, saving and investment accounts? / X /
a. Please list accounts with exceptions: / No exceptions
10. At what dollar amount do checks require a second signature? $5,000
11. Is supporting documentation provided for all checks given to the Pastor/Principal, or his/her designee, to sign? / X /
a. A signature stamp is NOT used to sign checks? We do not have a signature stamp for checks. / /
12. Are the bank reconciliations reviewed in detail by a second person without recording responsibility or authorization to withdraw funds? / X /
13. Are outstanding checks older than 90 days investigated and resolved? / X /
14. Are all investment statements reconciled at least quarterly by someone without authority to withdraw funds? We will need to cross-train our Office Assistant in account reconciliation of our investment accounts. / / X
15. Are CDs verified at year end with the issuing financial institution by someone without authority to withdraw funds and record transactions? We will need to cross-train our Office Assistant in account reconciliation of our investment accounts. / / X
16. Are all cash and investment balances, that are shown on the Statement of Financial Position as either donor or council restricted, supported by adequate documentation? / X /
17. Are donations that are recorded as donor restricted used only for the purpose imposed by the donor? / X /
18. Does the parish/school have any parish credit/store cards? (if “No” please move to question 19) / X /
a. Does the Pastor/Principal and/or Finance Council approve all credit cards and authorized signers? / X /
b. Do you have a written policy regarding the use of credit/store cards (See Resource Manual, pp 27-28)? We do not have a written policy but discuss our expectations with employees. / / X
c. Is the balance due on the credit/store card paid in full every month? / X /
19. Does the parish/school sell Scrip? (if “No,” please move to question 20) / / X
a. Current Scrip balance on hand?
b. How is scrip secured when not being used?
c. How often is Scrip counted and compared to inventory records?
d. If the Scrip discount is returned to purchaser via tuition credit, charitable contribution, or cash rebate, does the purchaser initially sign a written agreement? / /
e. Is at least 85% of the time spent on Scrip (include preparation of any checks and GL recording) done by volunteers? / /
20. In FY 2016, were any foundations or endowments established? / / X
a. If yes, please list the name and federal identification number:
21. Does the parish/school participate in online banking? (If “No,” please move to question 22) / X /
a. Do all online transactions require the authorization of two people? / X /
b. Are all online transactions executed from a device that is not used for any other internet activity? We still need to purchase a stand alone computer in order to accomplish this guideline. / / X
22. For all technology devices connected to the internet, are the following security protections installed and updated regularly:
a. Firewall (Guards against outside attempts to access your system) / X /
i. Name & Expiration Date of Firewall / Windows Firewall: up to date
b. Anti-virus (Includes anti-spyware and anti-malware) / X /
i. Name & Expiration Date of Antivirus / Managed Antivirus: up to date
j. Email Spam Filter (Guards against unwanted, harmful emails) / X /
i. Name & Expiration Date of Spam Filter / Google E-mail: updated by Iowa PC Services
23. Do you have a written password policy? (see Resource Manual, page 79) Not written but recommendations communicated to staff. / / X
24. Who is responsible for on-going IT maintenance/updates? / Business Manager in consultation with staff.
25. Do you utilize the services of an outside IT consultant? Iowa PC Services, Dan Bailey / X /
26. Are tamper-resistant bags used for the following:
i. Mass collections? / X /
ii. Major Fundraisers? / X /
27. Is someone responsible for assigning tamper resistant bag numbers to individual Masses/fundraisers and recording such information on a bag tracking form? / X /
28. Do the cash counters verify that the bags they count are the bags that were assigned (on the bag tracking form) to the Masses/fundraisers? / X /
29. Are cash collections counted by at least two unrelated people? / X /
30. Are cash collections counted by teams that rotate members and dates? / X /
31. Do any members of the count teams have recording responsibilities in ParishSOFT Family Suites/ConnectNow Accounting? / / x
32. Does the parish/school have signed W-4s and I-9s for each employee on file? / x /
33. Were all employees who worked 20 hours per week or more offered participation in the 403(b) plan with Christian Brothers Retirement Services? / x / /
34. Were all employees who worked 28 hours per week or more offered participation in the Diocesan health insurance plan and other insurance benefits? / x / /
35. Does someone reconcile the payroll liability/withholding accounts (GL accounts #2000 - #2050) at least monthly? / x /
36. In the past year, has the IRS imposed any penalties/late fees? Late fees associated with crossing the threshold from monthly to biweekly payroll tax payments were imposed in January. / x /
37. Is form 1099 issued to independent contractors, in accordance with IRS regulations? / x /
38. List the current number of employees that the parish/school has:
a. Full-Time (works 28 hours or more per week) / 6
b. Eligible for 403b (works at least 20 but not more than 28 hours per week) / 1
c. Part-time (works less than 20 hours per week) / 16 (includes musicians, childcare coordinator, meal coordinator, parish nurse, VBS coordinator, TWEEN coordinator, and confirmation coordinator)
39. Do you have a Safety Committee? In development with Finance Council and Facilities Expansion Committee. / /
a. Who is your Safety Coordinator? / Business Manager
40. Are you aware of and do you comply with the following diocesan policies:
a. Driver and Vehicle Safety / x /
b. Parish Facility Use / x /
c. Special Event Coverage / x /
d. Building Commission Guidelines / x /
FINANCE COUNCIL MEMBERSHIP
Please obtain signatures of the Finance Council members affirming the statements below:
· We have met, reviewed, and approved the financial statements and the answers to this annual survey for the fiscal year ended June 30, 2016.
· To the best of our knowledge, the financial statements accurately reflect the financial condition and activities of the parish/school.
· The Pastor/Principal and Finance Council accept responsibility for reviewing the effectiveness of the parish’s/school’s internal control systems.
Pastor
Printed Name / SignatureBusiness Manager/Bookkeeper
Printed Name / SignatureName, professional titles or occupations, and signature of Finance Council members:
Printed Name / Occupation Outside of Parish/School / Signature1
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Contact information for your Finance Council Chair:
Name / Phone / EmailAddress / City, State & Zip
Names, phone numbers, and email addresses of your Trustees:
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