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Parish Audit Report for 2007 --- Due to Diocesan Office by August 2008.

The diocesan canons require that an annual audit of church financial records be submitted to the Office of the Bishop. The canonical deadline for filing the 2007 audit is August 31, 2008.

There are two forms that your church audit may take.

First, an outside audit firm may be employed, but please be sure to attach a copy of their supporting management letter and any church response to issues raised by the auditors.

Second, your church may use the Diocese of Virginia audit program which is based on the Manual of Business Methods in Church Affairs (July 2007). I feel this audit program lays out a usable and proactive process for an audit committee to assure each congregation of their financial position. The provided program should be directed to the person or persons responsible for the audit process. A “short-form” audit is available for churches with total budgets of less than $150,000.

Please make every effort to use one of these methods to review your financial records. As a matter of due diligence and responsibility, I encourage every vestry to look at their internal business practices, their investments, their property and insurance coverages, etc. 1999 and 2000 audits showed that churches need to keep an eye on FDIC insured limits on all church bank accounts.

A list of prior year's audits is maintained in the Journal of Annual Council. If you have questions or need assistance, please feel free to contact Mrs. Joy Buzzard or myself at 1-800-DIOCESE, or you may email us at jbuzzard@thediocese.net or mkerr@thediocese.net.

 


Prior Year Forms: