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Steve Smith
New member
Username: Ssmith

Post Number: 5
Registered: 10-2006
Posted on Sunday, July 22, 2007 - 9:11 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)
Our auditor is advising us that we really ought to have a formal 'reserves policy'. Has anyone out there done one (especially one that has passed an auditor's eagle eyes) and if so can they let me have a copy to plagiarise?

Steve Smith
All Saints Wokingham
pcctreasurer@allsaintswokingham.org.uk
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Nigel Wearne
Moderator
Username: Nwearne

Post Number: 41
Registered: 10-2006
Posted on Friday, July 27, 2007 - 3:54 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)
You are very welcome to adapt the wording on page 12-13 of the 2005 ODBF accounts that you can find at this address:
http://www.oxford.anglican.org/files/docs/ODBF_Fin ancial_Statements_2005.pdf

(The 2006 accounts for all legal entities will go up next week but 2005 will do for this prupose.)
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Kevin Ryan
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Username: Kpryan

Post Number: 3
Registered: 5-2008
Posted on Tuesday, May 20, 2008 - 2:46 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)
Spam Removal
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Mr J Buckley
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Username: Jbuckley

Post Number: 5
Registered: 10-2006
Posted on Friday, August 1, 2008 - 9:07 am:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)
We agreed one at our last PCC meeting in Garsington, that our General Fund reserves policy should be to aim for reserves equal to a half-year's expenditure. It's essential for cash flow management, paying Parish Share on time, coping with large bills and having time to respond and devise a strategy when a deficit looms. I seem to be remember (perhaps from Financial Consultations?) that an ordinary PCC should aim for reserves of one third to one half. A reserves policy is essential (a) for good governance and (b) to answer the question, which you will get some day, of "why are you trying to raise funds when you've got £10,000 in the bank?"
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Stuart Summers
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Username: Stuartsummers

Post Number: 1
Registered: 11-2008
Posted on Wednesday, November 12, 2008 - 7:16 am:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)
Reserves can be an emotive issue - even if you do have an agreed policy in place. We are still working towards building-up 2 months reserves but inevitably at year end someone will ask at PCC why we have "all this money" sitting in the bank, doing nothing, when we could be using it to help out our Mission Partners more.
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David Evershed
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Username: Evershed

Post Number: 8
Registered: 12-2006
Posted on Tuesday, February 24, 2009 - 6:20 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)
The C of E has issued a good practice guide on reserves. You will find it at
http://www.parishresources.org.uk/charity/parishre serves.pdf

Reserves are not just needed for ongoing annual expenditure. They are also required to maintain the church building (called "fabric").

While the good practice guide accepts reserves are needed for fabric maintenance it does not say how. You might consider my own thoughts on this which follow below.

The church building is not on the balance sheet of the PCC but the PCC is responsible for its upkeep. If it were on the balance sheet then there would be a depreciation charge of 1% or 2% of the building value each year to cover such costs. I suggest reserves should reflect the kind of depreciation charge that would be made for maintenance (and accumulate when not spent)if the building was on the balance sheet.

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