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STAKE REPORTS - Ward Budgets/Income-Expense Reports

Posted: Fri Jun 13, 2014 8:06 am
by ccampbell
As a Assistant Stake Clerk---Finance, I am often at a loss to provide guidance to Ward Financial Clerks on a Ward's Budget or the condition of their "Other" account or the Ward Missionary account(s) because this information is not provided via MLS at the Stake level. I meet with the Stake President monthly and these subjects come up all the time. Unless I physically attend a unit and print these reports at their building we cannot see any detailed information. Some information is provided in the Consolidated Financial Statement, but it is very limited.

For example, are there 'strange' categories being added to the OTHER account that should not be there. Seeing the details of the Ward Missionary Account would allow us to see if excessive funds are being held by the unit and need to be transferred to the Finance Dept. Additionally, units could be advised to transfer residual negative or positive funds out of a returned missionary's account to eliminate it from the Consolidated Financial Statement. Also, have access to the Budget Report would allow the Stake President to counsel Bishops on proper budgeting and spending the funds they are responsible for appropriately. (i.e. no stockpiling or excessive events).

Any feedback would be welcome.

BTW: It takes me 2 hours to drive 1-way (on a major 6 lane highway) from one side of my stake to the other. Not too practical to visit each unit.

Re: STAKE REPORTS - Ward Budgets/Income-Expense Reports

Posted: Fri Jun 13, 2014 8:38 am
by drepouille
I review the consolidated financial statement each month. It contains enough detail about ward missionary accounts for me to give direction to the ward clerks. For example, I tell them to zero out an RM's account, or I suggest to the ward clerk and the bishop that they are holding more than 90 days-worth of missionary funds, which they should forward to the stake.

The Other accounts at the ward level are a black hole to the stake. We can only see the overall balance of the Other account, not the subcategories.

Re: STAKE REPORTS - Ward Budgets/Income-Expense Reports

Posted: Fri Jun 13, 2014 8:39 am
by TinMan
In our stake, the auditors weed out our weird "other accounts" and tell us to close them if our explanation isn't good enough.

As to the Ward Mission Fund, we fill out a form supplied to us by the Stake every Jan/Feb time frame where we copy the Ward Mission Fund page from the December financial statement, along with the print out from MLS. we need to explain why we have excess funds (like Elder Smith and Sister Jones have both paid their missions in full, contrary to our recommendation.) We also provide an explanation if someone is very far behind. The stake allows us to keep $8000.00 in excess funds (along with the excess of those who have paid ahead), and asks us to return everything else to the General mission fund. The $8000.00 is $1000.00 for each of our 8 missionaries. I think it is just an arbitrary number, but so far, it provides us with enough cushion.

Re: STAKE REPORTS - Ward Budgets/Income-Expense Reports

Posted: Fri Jun 13, 2014 8:51 am
by drepouille
If a missionary has paid ahead, I deduct that amount from the funds available. Each ward is allowed to keep up to three months ($1200) for each missionary in the field who has not paid ahead. The excess is to be sent to the stake.

Re: STAKE REPORTS - Ward Budgets/Income-Expense Reports

Posted: Fri Jun 13, 2014 9:19 am
by TinMan
What does the Stake do with the excess funds?

Re: STAKE REPORTS - Ward Budgets/Income-Expense Reports

Posted: Fri Jun 13, 2014 10:59 am
by russellhltn
TinMan wrote:What does the Stake do with the excess funds?


Usually excess ward missionary funds go to the stake. The stake uses it to help out wards that are struggling with their missionary funds. (Such as wards that have missionaries that do not have a supporting family. Not uncommon for singles wards.) Any excess at the stake level goes to CHQ.

Re: STAKE REPORTS - Ward Budgets/Income-Expense Reports

Posted: Fri Jun 13, 2014 11:18 am
by TinMan
Oh.

We have been told that missionaries from single wards have their memberships transferred back to their home ward who handle the finances.

So how big of a surplus does the Stake keep?

Re: STAKE REPORTS - Ward Budgets/Income-Expense Reports

Posted: Fri Jun 13, 2014 11:41 am
by russellhltn
TinMan wrote:We have been told that missionaries from single wards have their memberships transferred back to their home ward who handle the finances.

How does that work for "only member" missionaries who may have never attended their so-called "home" ward? That happens when the Singles wards succeed in their missionary efforts. Particularly if it's a singles student ward.

Re: STAKE REPORTS - Ward Budgets/Income-Expense Reports

Posted: Fri Jun 13, 2014 2:37 pm
by TinMan
Not sure. I just know that I have had 4 missionaries called from student wards and regular YSA wards. In each case, the bishop called me and said "X is leaving on a mission. Will you accept the responsibility of financing it through your ward mission fund?" And the only answer allowed was "yes." 2 were from active families that live in my ward. One was an inactive family and our ward mission fund is completely financing her mission, and the third one was for someone whose family was going to move into our ward before their son left.

Re: STAKE REPORTS - Ward Budgets/Income-Expense Reports

Posted: Sat Jun 14, 2014 10:19 am
by lajackson
TinMan wrote:So how big of a surplus does the Stake keep?

Over the years, our stake has kept enough to account for the wards and branches who have not yet learned to manage their local missionary accounts, and a little extra to make sure that the missionary fund of all the units in the stake combined remains positive.

There is an amount that will trigger a request from Church headquarters for the remitting of excess funds, but I do not know what that number is. Our stake presidency is comfortable with the amount kept, and it is small.