Out of Turn Adjustment
- mlh78
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- Location: Texas, USA
Out of Turn Adjustment
On our stake's latest Stake Financial Summary, it lists an "out of turn adjustment." My understanding is that out of turn adjustments represent sales tax refunded in Utah or North Carolina. But my stake is not in either of these states. Could it be for something else?
- aebrown
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- Location: Draper, Utah
The only place I've seen it is for sales tax refunds (I'm in Utah). But clearly the term has a more general usage; otherwise the Church finance people would have called it "Sales tax refund."mlh78 wrote:On our stake's latest Stake Financial Summary, it lists an "out of turn adjustment." My understanding is that out of turn adjustments represent sales tax refunded in Utah or North Carolina. But my stake is not in either of these states. Could it be for something else?
I would think that your best source for the answer is calling Local Unit Support; even if someone else on the forum has seen this type of thing, I would bet that you'll need to know precisely what this adjustment is, which is something only Church headquarters can tell you.
Questions that can benefit the larger community should be asked in a public forum, not a private message.
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You will also have an out of turn adjustment if there was a change in the stake such as a boundary realignment. Because the budget is given quarterly and boundary changes will happen whenever, you will see these adjustments come through to reflect changes that happen mid cycle.
Last year there was a stake created in our area and we lost two units from our stake. We had a couple of out of turn adjustments to cover the changes. One had to do with expenses these units made while in the other stake, but finances showed up in our stake. With the other, the two stake presidents met and determined how much budget should be transferred from our stake to the new one to cover unit and stake expenses relating to those units.
Really, an out of turn adjustment is just a change (increase or decrease) to the stake budget that happens outside the normal quarterly budget process. There are many reasons this may happen and I think the church uses this one lump category to handle it instead of trying to come up with different categories for all the different reasons they might adjust the budget outside the normal process.
Last year there was a stake created in our area and we lost two units from our stake. We had a couple of out of turn adjustments to cover the changes. One had to do with expenses these units made while in the other stake, but finances showed up in our stake. With the other, the two stake presidents met and determined how much budget should be transferred from our stake to the new one to cover unit and stake expenses relating to those units.
Really, an out of turn adjustment is just a change (increase or decrease) to the stake budget that happens outside the normal quarterly budget process. There are many reasons this may happen and I think the church uses this one lump category to handle it instead of trying to come up with different categories for all the different reasons they might adjust the budget outside the normal process.