Accounting Procedures
Parish Chart of Accounts
The Chart of Accounts for Parishes is available here. This version will soon receive an update. If you have any questions about the Chart of Accounts, or would like to suggest a line item to be added, please contact the Diocesan Business Office at (318)868-4441.
Leadership Services Quarterly
Leadership Services Quarterly was published by the administrative departments of the Diocese of Shreveport from 2001 through 2009. Despite the time lapse since the last publication, many of the issues published contain information which is still pertinent at the parish level. Some of the items discussed in the LSQ and pertaining to the business office (or closely related) are:
03 (B) Compliance (March ’04)
Assessment, form for Requesting Freeze (May ’05)
Assessments FAQ (June ’08)
Audit, Diocesan (November ’03)
Audit, Parish: “Agreed Upon Procedures” (November ’03)
Collections: Procedures (July ’04)
Computer Backups (January ’08)
Construction/Renovation Procedures (May ’05)
Employee vs. Independent Contractor (March ’04)
Injuries, Reporting (May ’05)
Insurance FAQ (June ’08)
Insurance, Property and Liability renewal 07-08 (October ’07)
Insurance, P&L renewal 06-07 (August ’06)
Insurance, P&L update (October ’01)
Insurance Reporting Change (May ’05)
Insurance, Requirement for renting facilities (November ’03)
Living Wage Update (March ’04 – May ’03)
Overtime vs. Time Off (March ’04)
Personnel Files (October ’01)
Renting Facilities: Insurance Requirements (November ’03)
Safety: Reminders for Fall (November ’03 – October ’01)
Safety: Reminders for Spring (May ’03)
Second Collection Remittals (March ’04)
Timekeeping Practices (May ’06)
Vans, 15-passenger (May ’06 – May ’03 – October ’01)
Volunteers vs. Employees explained (January ’07)
Wages, fair (August ’06)
Wage, Living (March ’04 – May ’03)
All issues of Leadership Services Quarterly and a detailed subject index of all articles can be accessed here.
Reporting Timeline
1. Budgets – due June 1st
The annual budgets (effective July 1-June 30) for parishes, missions, schools and campus ministries are due to the Diocesan Business Office by June 1st of each year. Locations are provided pertinent budgeting information each February, such as insurance increases, approved mileage reimbursement rates, and priest compensation packages. Locations which are due for Agreed Upon Procedures Reviews in the coming fiscal year are also provided with the cost estimate for the review.
2. Mid Year Financials – due January 31
Mid-Year financials are due from all parishes, missions, schools and campus ministries by January 31 of each year. Please be sure to include a Balance Sheet and Income Statement as of December 31.
3. Year-End Financials – due July 31
Year-End financials are due from all parishes, missions, schools and campus ministries by July 31 of each year. Please be sure to include a Balance Sheet and Income Statement as of June 30.
The year-end financials are used to calculate the total assessment to be paid over the course of the new fiscal year. Please refer to the Chart of Accounts for determining assessable status of a particular income line item. If you have any questions about what is taxable and what is not, please feel free to call the Diocesan Business Office at (318)868-4441.
At the time year-end financials are submitted, we also request that the pastor submit the Parish Representation Letter. This letter is to be printed on parish letterhead and signed by the pastor. We include it on this site in Microsoft Word format to facilitate easier editing.
Annual Diocesan Assessment
Canons 222 and 1260 assert the right of the hierarchy (bishops) to require from the Christian faithful the financial support necessary for ecclesial purposes (carrying out the mission and programs of the Church in the diocese). Canon 1263 specifically gives the right to the bishop to impose taxation as necessary to provide adequate support for the Church.
The total of taxable income line items for the fiscal year recently ended is compared with the following chart in order to determine the taxable percentage rate.
Taxable Income
General Collections
Special Collections
Building Fund Collections (ordinary)
Fundraisers (non-school-related)
Donations (general & designated)
Memorials (non-sanctuary)
Rentals and Leases
Oil and Gas Royalties
Votive candles and religious items
Gains on Sale of Securities or Real Estate
Miscellaneous
Non-Taxable Income
Collections for Debt Reduction*
Collections for New Construction** Insurance Proceeds
Cemetery Revenue
Tuition for Religious Ed/School
Fundraising for school
Subsidy from diocese
Grants
Memorials for Sanctuary Items
Non-Contractual Rentals
Mass Stipends
Dividends and Interest
Legacies, Bequests, Estates
Non-Income Receipts
* Collections for Debt Reduction total must be reflected in decrease of note payable on the balance sheet. Funds in excess of what was actually paid toward debt reduction (principal + interest) will be assessed.
** Collections for New Construction must have documented, written approval of the Bishop or Diocesan Administrator, usually by way of the process for approval of Construction and Improvements before being exempt from Assessment.
Agreed Upon Procedures
Parishes, missions and elementary schools are reviewed by independent accountants every three years for compliance with acceptable accounting practices and diocesan policy. The schedule currently stands as follows:
TBA
Reviews will take place during the fall of the year noted (after the close of the fiscal year at June 30.) Locations are provided pricing information in February so that appropriate budgeting provisions may be made. Special arrangements for additional reviews outside of the normal schedule may of course be made at the request of the Bishop, Diocesan Administrator or the Pastor.