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Annual financial reporting

MLS finance

Each ward and stake in the Church has a responsibility for annual financial reporting. Under the direction of the bishop and stake president, the ward clerk and stake clerk (perhaps with the help of assistant clerks) must follow certain procedures and meet deadlines to comply with Church policy and legal requirements.

Wards

Entering and submitting year-end reports and statements

Complete the following tasks by January 31:

I. Enter tithing declarations and submit report in MLS

  1. On the Finances panel click More.
  2. On the Donations panel, click Tithing Settlement.
  3. On the Tithing Declarations panel, click Enter Tithing Declarations. Either a declaration or a comment in the Notes section is required for the report to be submitted. You may enter the tithing declarations into MLS during or after tithing settlement.
  4. Once all required fields are completed, click Submit at the bottom of the window. A message will indicate the Tithing Status report has been queued for transmission.
  5. Click Close, and then Save. The next time you select Send/Receive Changes, the report will be transmitted to headquarters.

II. Send year-end reports to stake president

  • Tithing Declaration Report
  1. On the Finances panel, click More.
  2. On the Donations panel click Tithing Settlement.
  3. On the Print Reports panel click Tithing Declaration Report. Print two copies, one for the ward files and one for the stake. This will print the Tithing Declaration Report for All Members and the Tithing Declaration Statistics Report.
  4. Review, sign, and date the Tithing Declaration Statistics Report.
  5. Deliver to the stake president by January 31.

III. Provide all donors with their official tax statements

  1. On the Finances panel, click More.
  2. On the Reports/Reconcile panel, click Donor Statements. Note: Donor Statements are also available in the Tithing Settlement panel.
  3. From the Type of Report list, select Official Tax Statements.
  4. Click Select All (or select those you want to print), and then click Print.


IV. Follow the Record Retention Policy for your Unit

  1. Be sure to follow the Record retention policy for your unit/area.

Correcting donations and resubmitting reports

If changes need to be made to the Tithing Declarations Report in MLS after it has already been transmitted, you should make them, and then click Submit to resubmit the corrected report. The resubmitted report will be transmitted the next time you select Send/Receive Changes.

Note: Any donation corrections, including: donor name or record number changes, category adjustments, or any other adjustments that change batch totals, will affect the Tithing Declaration Report and will require resubmission of the report. If you do not resubmit the report after making changes, your MLS report of donors and donation totals will not accurately match those at the administrative office. Additionally, if you adjust a person's donations, provide the person with a new Official Tax Statement, and write "Modified" on it.

If you have questions, refer to the Help menu in MLS, key words "Tithing Settlement" and "Ward Year-End Procedures," or contact your stake clerk.

Stakes

The stake president should receive the Tithing Declaration Report and Tithing Declaration Statistics Report from each ward in the stake by January 31. (This replaces the old Annual Tithing Status Report.) The stake president (or stake clerk, if assigned) reviews each ward's report by following these steps:

  1. Ensure that tithing declarations are complete and accurate by verifying the following:
    • The ward recorded a tithing status for each member on the report or made a note explaining why they did not (such as "Moved").
    • A tithing status is recorded for all those who are living in the ward at the end of the year.
    • Full-time missionaries with membership records in the ward are recorded as full-tithe payers.
    • Donors declared exempt (that is, they declared to the bishop that they are exempt from paying tithing because they had no income) were not declared by the bishop. Any exempt declarations who were declared by the bishop should be corrected. If any status is changed, the ward should print a new Tithing Declarations Report and send it to the stake.
    • Ward members who donated "in kind" or paid directly to Church headquarters have their status recorded.
  2. If a ward's information does not seem reasonable or correct, follow up with the ward clerk. If changes are made in the ward computer, have the ward clerk print and provide a new Tithing Declaration Report for the stake president and a corrected Official Tax Statement for each donor affected.
  3. When the report is correct, file the printed report in the stake president's confidential file. Keep the report for as many years as are required by local laws for financial records. Note that the administrative office will send a monthly letter, beginning in February, indicating the status of your units until they are in balance.

If you have questions, refer to the Help menu in MLS, key words "Tithing Settlement" and "Stake Year-End Procedures."

See also

This page was last modified on 11 May 2011, at 09:46.

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