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Parish Finance Manual

The Parish Finance Manual provides up-to-date guidelines and policies for parishes to strengthen both their internal and external procedures. Its information and instructions are meant to make you more effective and efficient, and to promote reliable financial reporting. The manual also includes information on other aspects of financial management, including filing government forms.

Contents

  • Section 1 – Responsibilities
  • Section 2 – Account and Reporting Systems
  • Section 3 – Budgeting
  • Section 4 – Charitable Status and Charitable Receipting
  • Section 5 – Investing
  • Section 6 – Sales Tax Issues
  • Section 7 – Insurance
  • Section 8 – Audit
  • Section 9 – Record Retentionaa

Appendices

  • Appendix A: Certificate of Status
  • Appendix B: Sample Financial Statements
  • Appendix C: Internal Control Questionnaire
  • Appendix D: Churchwardens’ Parochial Returns
  • Appendix E: Excerpts from CRA Website: Information for Charities
  • Appendix F: Letter of Direction
  • Appendix G: Statement of Investment Policies and Procedures
  • Appendix H: Summary of Historical Returns

For more information, contact Patricia D’Souza.

 

Trainings

Payroll workshop
If you missed the recent payroll workshop hosted by the Finance department, you can watch a video of the workshop and consult a list of helpful links.

Staff also wish to clarify that parishes with WSIB should submit based on the total remuneration of paid priests and staff. (Don’t include diocesan-paid clergy.) T4 slips should be issued to all employees and clergy paid by units, while guest speakers are issued a T4A. Employee-paid pension amounts are reported in box 20 of the T4 slip. Total employee and employer pension contributions are reported in box 52. Employee-paid medical benefits are reported in box 85, as the employee can claim this as a deduction on their tax return. Taxable life insurance and other taxable benefits are reported in box 40. If you have any questions, contact Keri Stilling.