Presbytery Of Eastern Virginia: Financial Business Matters

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Home > Financial Business Matters
PEVA Financial Reports 2018 PEVA March 2018 Reports PEVA February 2018 Reports PEVA January 2018 Reports PEVA December 2017 Year End Reports BOP - Pastors Dues Calculator An online dues calculator is extremely helpful in estimating monthly and annual Board of Pensions dues. Employers, mid councils, and members can now calculate monthly and annual dues for those in Pastor’s Participation Plan. Dues are based on the percentage of annual effective salary and minimums and maximums for the selected year, unless otherwise noted. Visit pensions.org to give the Pastor’s Participation Dues Calculator a try!				Mileage 2018 2018 standard mileage rates are: 54.5 cents per mile for business miles driven, 18 cents per mile for medical or moving purposes and 14 cents per mile driven in service of charitable organizations. MILEAGE FORM 2018 PEVA For more information, visit www.irs.gov BOP - Summary of Changes for 2019 The PC(USA) BOARD OF PENSIONS summarized the 2019 Benefits Coverage for members beginning in 2019. CLICK HERE to read the entire 2019 PPO overview CLICK HERE to read the entire 2019 HDHP/HSA overview
Unified Mission Giving Undesignated Support the Ministries of PEVA, SYNOD of the MID-ATLANTIC & PCUSA Annually member churches develop their budget for supporting the Presbytery through their pledges to PEVA for Unified Mission Giving Undesignated which supports the Presbytery’s annual operating budget that funds the Presbytery’s on-going, day-to-day ministries. Many churches also, concurrently, develop their plan for giving designated ministries. Other churches plan their giving to designated ministries at another time in the church’s calendar. Whichever, the case the summaries provided here may be useful in your designated giving decisions. Remittance Form 2018 PEVA Pledge & Remittance Codes *(UPDATED 10/18/17)* Retention for Church Records PEVA recommend retention list: Keep everything 7 years except the following which must be kept permanently. Deeds, mortgages, bills of sales for major purchases (if property is unsold) Audit /Financial Statements, Property appraisals / Assessments, Insurance Claims of injury/ damage, Chart of accounts, Cash books, Legal Papers, Session & Congregational Minutes, Tax returns/ Payroll Tax Returns, Student Records, Church Rolls & Registries, and Church History. The Presbyterian Historical Society recommends: Minutes-permanent, Annual reports-permanent, Reports-permanent, Bylaws/charters-permanent, Incorporation records-permanent, Annual budgets-permanent, Annual audits-permanent, Financial ledgers of final entry-permanent, Subject correspondence-permanent, Manuals/handbooks-permanent, Newspapers/newsletters-permanent, Brochures/promotional material (1 copy)-permanent, Photographs-permanent, Property records-20 years after sale, Wills, bequests-permanent, Legal/judicial cases-permanent, Loan agreements-satisfaction + 20 years, Contracts-active + 3 years, Personnel records/employee records-employment, FICA / W2 records-7 years Accounts payable invoices-3 years, Accounts payable-7 years, Accounts receivable records-3 years Bank deposit slips-3 years, Bank statements-7 years, Canceled checks-7 years, Cash receipt records-3 years, Data for updating mailing lists-1 year, Mailing lists-active, Periodic financial statements-2 years Expense reports-7 years, General/routine correspondence(acknowledgments, requests, travel arrangements, etc.)-3 years, Invitations-1 year, Petty cash records-7 years, Receipts of purchases-7 years, Meeting notices-1 year, Travel plans/arrangements-1 year, and Resource files active. If you are uncertain how long to keep records, consult your auditor, accountant, legal advisor, or contact the staff of the Society. Some retention requirements vary from state to state. The Presbyterian Historical Society is the national archives of the Presbyterian Church (U.S.A.) and its primary historical research center. Their mission is to collect, preserve, and share the story of the American Presbyterian experience with Presbyterians, the scholarly community, and the general public.				Designated Giving Support the Ministries of PEVA, SYNOD of the MID-ATLANTIC & PCUSA Designated giving represents that financial support and out-reach “over and above” Unified Mission Giving. The support our member churches provide to the special “designated giving” supports many special ministries and out-reach to extend the glorification of God and our Lord Jesus Christ. “Designated Giving” support 5 principal categories: PCUSA Support Missionaries PCUSA GA Projects PCUSA Approved Offerings Synod Validated Causes Presbytery Validated Causes There are many advantages to providing your “Designated Giving” through PEVA. This method allows your church to write just one check with their remittance document to cover their Unified Mission Giving (pledge, Code 1000) and “designate” any number of additional giving on the same remittance. When PEVA receives your remittance, the indicated amount is recorded to the appropriate remittance code indicated on your remittance form. PEVA is able to consolidate all contributions to the same “designated” recipient and send a single check to that recipient. Per Capita 2018 PEVA must pay Per Capita for every member of every church regardless of the amount pledged and remitted to the presbytery by that church. Per Capita supports the administration and ministry of Synod and PCUSA. GA Per Capita for 2018 is $7.73 per member Synod Per Capita for 2018 is $0.85 It is important to know that, in addition to an annual per capita payment to GA, there is also one for the Synod. They must be paid and are paid from the Unified Mission Giving (Operating Budget) of PEVA. This money is used for the operating budgets of GA and Synod. Other designated giving to higher church funds are sent over and above this. As a connectional church body, the support of the “larger Presbyterian Church” is critical to undergird the many, far reaching ministries for which collective funding is vital.