Finance and Administration - Diocese

Overview
Responsibility for the financial and administrative matters of the Diocese, including but not limited to matters related to property, investments, insurance, and Parish Fair Share, as well as the effective management of finances, including the budget, payroll and employee benefits, is the purview of the Director of Financial Ministry, with oversight from Property and Finance. The overall function of safeguarding Synod assets is of prime importance.

Budget (3 year Diocesan)

Consolidated Trust Fund
The Consolidated Trust Fund (CTF) of the Incorporated Synod of the Diocese of Ottawa is one of the Diocese's three separate funds. CTF holds and manages investments for parishes, Synod, third parties and for various cemeteries. Synod is a registered charitable organization and is exempt from income taxes.

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Contractor Agreement
Agreement between Owner and Contractor

This template has been prepared to facilitate the process of obtaining a written agreement with a Contractor chosen to undertake construction/repair work at your churches.

Why You Need a Written Agreement 
Oral agreements invite costly misunderstandings because there's no clear written statement of what the Contractor has agreed to do, how much you have agreed to pay, or what the two of you will do if a dispute arises.

These misunderstandings might be innocent -- you and the Contractor may genuinely remember your agreement differently -- or they may be intentional. Either way, it will be your word against the Contractor's. It's much safer to rely on a written document that clearly sets out the details of what has been agreed to.

A good, solid written Agreement is also the foundation for a positive renovation/construction experience for both the parish and the Contractor. It helps build confidence and the relationship.

More importantly, it helps to prevent misunderstandings and false expectations that can lead to a breakdown in the relationship and jeopardize the project.

When hiring Contractors, keep in mind there are special considerations that cannot be omitted from the Contractor agreement, apart from the obvious items such as the nature of the work and the price. Examples are warrantees, dispute resolutions, insurance issues, etc.

Members of the Property and Finance Committee have prepared the agreement template, with the expectation that parishes will use this kind of agreement when hiring a Contractor, thereby avoiding potential pitfalls and lessening the likelihood of complications and differing opinions.

Here's hoping the parish and the Contractor used will find it a solid guide.

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ECOPS (Equalized Cost of Priestly Services)
Equalization among parishes has long been an accepted principle and practice in the Diocese of Ottawa. ECOPS is the financial assessment system we have carefully developed to strengthen our congregations, ministry and mission.

ECOPS enables clergy appointments to be guided principally by ministry gifts and their "fit" with a parish. With ECOPS our bishop is able to appoint senior, experienced clergy with particular gifts to any parish in the Diocese without affecting that parish's ECOPS payments.

With ECOPS, the amount parishes pay for priestly services is a function of their share of the total diocesan cost of priestly services (excluding housing) and not a function of their particular incumbent's stipendiary costs. The Parish Fair Share percentage under ECOPS is the three-year average of a parish's assessable income expressed over the total of all the parishes' net assessable income.
Report on Equalized Cost of Priestly Services - October, 2015 (pdf)

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Finance
The Accounting Department at the Synod office is responsible for:
  • the receipt and disbursement of funds;
  • the annual Parish Fair Share (PFS) process, including the recording of all Statistical Return data;
  • the calculation and charging of each parish's commitments, including ECOPS, PFS, Insurance premiums, etc.;
  • the central payroll function for the Diocese and the Community Ministries;
  • the maintenance of the Consolidated Trust Fund (CTF) transactions (buying and selling of securities and bonds), and the payment of dividends to CTF unit holders;
  • transactions within the Church Extension Fund e.g. interest calculations on loans;
  • the Accounts Receivable function;
  • preparation of monthly internal financial statements and the annual statements for the Incorporated Synod of the Diocese of Ottawa, the Church Extension Fund and the CTF;
  • maintaining appropriate accounting records;
  • providing administrative support to parishes and the Diocese in the areas of CTF deposits and withdrawals, stipends, benefits, pensions, salaries, contracts, accounting controls, tax matters, insurance coverage, and Diocesan loans.

The Director of Financial Ministry manages these functions and is supported by two Accountants and an Accounting Assistant.

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Financial statements
Parishes are responsible for their own annual financial reports, which should be audited under the terms specified in Bylaw B.5.02 Section 9, and also Regulation 5.06.

At the end of each fiscal year, Deloitte & Touche LLP audit three financial reports for the Diocese:
  • Incorporated Synod of the Diocese of Ottawa. Financial data on Community Ministries, mortgages/promissory notes and parish capital assets are included in this document.
  • Consolidated Trust Fund (CTF), which helps parishes manage and invest their trusts, income from bequests, and proceeds from the sale of rectories or other parish property
  • Extension Fund, which provides loans to parishes for capital projects.
Consolidated Financial Statements, Synod - 2014 (pdf)
CTF Financial Statements - 2014 (pdf)
Extension Fund Financial Statements - 2014 (pdf)

Three fiscal policies, in particular, bring parishes onto ground watched closely by the Property and Finance Committee:

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Forms and advisories - Quick links
Please let the webmaster know if there are other forms you would like to find here.

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Gifts of securities
A charitable gift of publicly traded securities such as stocks, bonds and mutual funds made directly to your church or to the Incorporated Synod, either now or as a bequest in your will, offers significant income tax savings which can reduce the actual cost to you of such a charitable gift. Direct gifts of such securities result in no taxable capital gain compared to a taxable capital gain of 50% if sold and the funds donated. Please check HERE for the procedure to follow and the required form is HERE.

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Human resources
The human resources function of the Diocese is multi-faceted. Appointments of clergy are handled through the Bishop's office, as too are the areas of clergy education, wellbeing, and evaluations.

Compensation and benefit payments for clergy and lay staff are dealt with through the Accounting Department in the Synod office. More info.

The Pension and Benefits Program is overseen by the Property and Finance Committee 's Benefits Subcommittee. They deal with issues of pay and benefits not just for the clergy but also other diocesan employees.

Conflict resolution and other human resource issues are handled through the Bishop's office.

Clergy Personnel Policies manual.

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Insurance
Audit's Insurance Subcommittee is tasked with the review and recommendation for approval of policy coverage and premiums. It also considers any issues related to insurance coverage in the Diocese.

The coverage for each parish is set out in a policy document issued each year to the parishes. A summary of the types of coverage currently in place is:
  • Property, based on replacement or functional values
  • Crime
  • Commercial general liability (occurrence basis), up to $2 million
  • Commercial umbrella liability, up to $8 million
  • Abuse
  • Directors' and officers' indemnity, up to $2 million
  • Employment practices
  • Mechanical breakdown (boiler)
  • Loss of income

The general liability insurance covers all employees including voluntary workers while engaged in activities on behalf of the Diocese or parish.

It is important to note that, in order to keep premium costs at an affordable level, deductibles at the parish level are $2,500. The Diocese covers deductibles between $2,500 and $25,000 from its Insurance Reserve Fund.

All losses are to be reported immediately as they occur to the insurance broker, PBL Insurance Limited, and any major additions or deletions to buildings and contents are to be made known to them. The contact person is Robert Fournier at 613-746-4383, Ext. 410.

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Third party liability insurance
Since the diocesan insurance policy does not cover third party liability actions and claims, please ensure that any person(s) or group planning to use a parish facility for an activity or event not organized by the parish obtain insurance coverage if they do not already have a policy. Further information on what events require such coverage is contained in a clarification document. We believe that this program offers great peace of mind to our parishes when offering their facilities for use by members of the community and to the individuals that will be using your facilities for their purposes.

Effective March 1st, 2015 the third party event insurance program, accessible to all parishes of the Anglican Diocese of Ottawa, is being handled by PBL Insurance Ltd in conjunction with Sports-Can Insurance Consultants Ltd.

Purpose of Coverage:
This insurance program offers liability insurance to third parties who are renting or using your facilities for an event, such as a meeting, reception, dance, etc. If someone was to become injured or if property damage was caused due to the event held, the third party may be found liable and may be responsible to provide compensation for the damage caused. It is important for the third party to be adequately protected against these devastating situations. This program offers an effortless and cost efficient avenue to obtain such insurance. Insurance under this program also protects your parish in the event that you suffer from property damage due to the use of your facilities and the third party is found liable.

Case Examples:
  1. A young couple (third party) rents the basement hall of your church to host their wedding reception. During the wedding reception, water is accidentally spilled on the floor and causes a guest to slip and become injured. The injured guest chooses to proceed with litigation against the couple for the injuries suffered. The couple's event insurance will respond to protect them.
  2. A quilting club uses your facility to have a quilting bee. One of the participants knocks over some candles while moving a quilt, causing a fire to your building. If the quilting club (third party) is found liable for causing the fire, the event insurance policy will respond, defend the claim for the damages to the building and pay resulting damages.

Process:
When a person or group not associated with your parish is about to rent or use your facilities (indoor or outdoor) for an event that your church is not sponsoring, you ask if they have "third party liability insurance for $2 million".
  • If the answer is yes, you request a copy of their insurance certificate, for your file.
  • If the answer is no, you should:
  1. Have them complete the one page application form. Click here if you want to refer to samples of applications.
  2. Based on the information provided, refer to the rating guide to determine the premium chargeable for the event insurance. If the event includes serving liquor, a host liquor application form and additional premium will apply. Note that an 8% provincial sales tax must be charged in addition to the premium calculated. If you have any questions regarding how to calculate the premium, please contact Theresa Arsenault at PBL Insurance Ltd.
  3. The calculation, payment and copy of the application are to be sent to PBL Insurance Ltd.
  4. In the event of a claim resulting from an event, please contact PBL Insurance Ltd. in order to report the claim.

Note: If the event is of a special nature, such as a sport event; or if you have questions, please contact one of the following PBL Insurance representatives:

Robert Fournier
Account Executive Manager
613-746-4383 ext. 410
cell: 613-769-1964
rfournier@pblinsurance.com
Theresa Arsenault Commercial Lines Account Manager 613-746-4383 ext. 419 tarsenault@pblinsurance.com


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Investments
The Consolidated Trust Fund (CTF) of the Anglican Diocese of Ottawa was established in 1970 to bring together the trust funds held by the Diocese and its parishes for the purpose of providing cost-effective professional investment management for the combined funds. The Property and Finance Committee (FAC) is responsible for the sound management of the CTF. To this end, FAC has appointed an Investment Subcommittee to monitor closely the CTF's management and investment performance on behalf of FAC, ensuring that the Fund is managed in a way consistent with the policies established by FAC and with all applicable legal requirements, and to provide policy advice to FAC as appropriate.
More information and deposit form

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Loans
The Church Extension Fund provides loans to parishes for construction of new buildings, and the expansion or renovation of existing buildings. The Fund is administered by the Property and Finance Committee and therefore applications, with appropriate documentation, must be submitted through the Director of Financial Ministry. More information


Properties

Property and Finance Committee submissions
Parishes must obtain the approval of the Property and Finance Committee before withdrawing any significant amount from the Consolidated Trust Fund (CTF), undertaking any mid- to large-size capital projects, withholding a gift or bequest, or receiving a loan from the Church Extension Fund (CEF). The committee is also pleased to respond to other specific finance-related requests from the parish corporation i.e. churchwardens and incumbent. It meets usually on the second Wednesday of each month (July and August excluded). Your covering letter should summarize the request, clearly stating if it seeks
  • a withdrawal from the Consolidated Trust Fund,
  • an approval for a project,
  • permission to withhold a gift or bequest, or
  • some other decision
The deadline for submissions is:
* first Monday of the month (July and August excluded) at the Synod office

Before making a submission be sure to review the Application Form instructions and the Decision Rights details
For the application form, click here
For the Decision Rights Matrices, click here


Synod office



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