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Church accounts

kerryhill100kerryhill100 Well-KnownRegistered Posts: 121
Hello,

I was wondering if anyone could offer some advice. A friend of mine has no experience in the accounting world but has taken on the treasurers job for there church. they have sent me the following question and am unsure how to answer it!!

I now have to produce some half yearly reports.

A statement of Asssets and Liabilities
A statement of Financial Activities
An analysis of income and expenditure.

The computer system produces these for me but I don't
understand the figures it produces. The reports quote
'Unrestricted' and 'Designated'. All of our funds are
'unrestricted'

Comments

  • JanJan Experienced Mentor Registered Posts: 654
    Kerry I used to be a church treasurer, funds are split as you have found out.

    I'm at work at the moment, will try to explain either at lunch time or when I get home.

    It's not difficult - they just use different terminoligy.
  • JanJan Experienced Mentor Registered Posts: 654
    Gem has answered your query in the link.

    I usually had to explain restricted etc at the AGM each year. Basically if someone donates money and they want it to be used for say new carpets, then it can't be used for the church roof as it is restricted funds. If the PCC decide to use some other money to the carpets and then later decide it would be better used repairing the roof that is OK to use as it was designated. Unrestricted is what it says


    If you have any more questions just let me know, I may even have the spreadsheets I used to use to produce the year end accounts.
  • kerryhill100kerryhill100 Well-Known Registered Posts: 121
    Jan wrote: »
    Gem has answered your query in the link.

    I usually had to explain restricted etc at the AGM each year. Basically if someone donates money and they want it to be used for say new carpets, then it can't be used for the church roof as it is restricted funds. If the PCC decide to use some other money to the carpets and then later decide it would be better used repairing the roof that is OK to use as it was designated. Unrestricted is what it says


    If you have any more questions just let me know, I may even have the spreadsheets I used to use to produce the year end accounts.

    Thank you so much!!

    I feel abit stupid now as rather self explainatory!
  • JanJan Experienced Mentor Registered Posts: 654
    Sometimes the obvious just isn't!
  • PGMPGM Font Of All Knowledge Registered Posts: 1,954
    Thank you so much!!

    I feel abit stupid now as rather self explainatory!

    You'd be surprised how many people don't know the definition, who should!
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