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Bob Russell
New member
Username: Bob_russell

Post Number: 1
Registered: 12-2006
Posted on Thursday, January 4, 2007 - 8:41 am:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)
The Green book whilst mentioning Designated funds does not in the sample accrual accounts have a column for them on the Balance Sheet nor are they mentioned in the Fund notes. The Balance sheet in the manual handed out at the diocesan treasurers' meetings does. We always have shown them separately in our consolidated team accounts but as they have no restricted status and are only a statement of intent that can be later overturned, is there any real need for them to be disclosed in the final accounts ?
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Nigel Wearne
Moderator
Username: Nwearne

Post Number: 13
Registered: 10-2006
Posted on Friday, January 5, 2007 - 11:53 am:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)
I agree that the designation is a statement of intent by current trustees. For transparency and accountability - and in your case for consistency - I would say that, if they are material, your previous convention was best practice.

Now I must get back to the year end!
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Alan McCullough
New member
Username: Amccullough

Post Number: 6
Registered: 10-2006
Posted on Friday, January 5, 2007 - 9:44 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)
I don't think I would show designated funds unless they represented a substantial proportion of my unrestricted reserves and hence not to do so would be misleading. If the funds have been designated to say mission work, then I might consider them as liabilities if it was just a question of them not having been dispensed... and it was unlikely the PCC would reverse the designation.

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