New Ward Funds

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
dpenrod75
New Member
Posts: 46
Joined: Wed Jun 23, 2010 5:48 am

New Ward Funds

Postby dpenrod75 » Sat Aug 08, 2015 3:04 am

We organized a new ward, but received no direction from SLC concerning their initial funds. My assumption was that SLC finance would handle all this. It has been a few weeks now and the new ward still has no funds. Do I need to do something as the stake clerk? Also in the quarterly percentage breakdown in Stake MLS, we cannot assign the new ward any percentage numbers because all the boxes are greyed out (disabled) for the new ward.

Now one thing to note, the new ward came from splitting an existing ward, so do I transfer funds from the existing ward to the new ward?

(wishing SLC sent out a new unit checklist to stake clerks)

mikebroderick
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Joined: Sun Jun 08, 2008 7:45 pm

Re: New Ward Funds

Postby mikebroderick » Sat Aug 08, 2015 6:54 am

We have split several wards and we typically take the same percentage of funds from the old ward as members that were transferred. The funds that the old ward received were based on the numbers with those members. Also, you need to keep transferring those funds until the church has the quarterly reports to base the new wards funds on. We zero out the old ward in the computer and transfer from the stake account to both wards.

dpenrod75
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Posts: 46
Joined: Wed Jun 23, 2010 5:48 am

Re: New Ward Funds

Postby dpenrod75 » Sat Aug 08, 2015 7:06 am

Thanks!

lajackson
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Location: US

Re: New Ward Funds

Postby lajackson » Sat Aug 08, 2015 10:04 am

mikebroderick wrote:We have split several wards and we typically take the same percentage of funds from the old ward as members that were transferred. The funds that the old ward received were based on the numbers with those members. Also, you need to keep transferring those funds until the church has the quarterly reports to base the new wards funds on. We zero out the old ward in the computer and transfer from the stake account to both wards.

This is how we did it. You will have to manually track everything for about two quarters until everything is in place for the new unit to receive an automatic allowance.

A slight variation (assuming a single ward divided equally into two) is to change the percentage of the divided ward to about 1/2 of what it was. This allows the former ward to keep getting their allowance automatically, and leaves the other half for the stake to transfer to the new ward.

The math is more complicated if you divide two wards into three, or some other variation, but the same theories work. It you can figure out the numbers, you will only have to manually transfer to the newly created ward(s) and not worry about the others. Just be sure to change all the numbers back two quarters later when the reports again reflect the divided ward(s) and the new ward(s) correctly.


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