Diocesan Accounts & Finance

The Diocese of Manchester’s finances are mainly managed through the Manchester Diocesan Board of Finance (MDBF), a company limited by guarantee and a charity. Most of the MDBF income is provided by Parish Share, contributions from Archbishops' Council and income from investments and property. 

Parish Share 

The Diocesan Synod approved an updated system for collecting Parish Share in June 2015. This followed extensive consultations with parishes by the Parish Share Review Group.

A key objective of the new system is to foster a sense of common ownership for Parish Share as well as how it contributes towards resourcing ministry and mission in our diocese.

Download a guide to the new Parish Share system 2016/17.

What's different about the new system?

The new system should provide more flexibility and be responsive to individual parish circumstances. It builds on the positive aspects of the old system, and includes an opportunity for parishes to have a discussion with representatives of the Diocesan Board of Finance about their Share. It also gives parishes an assessment for a three-year period to help them with long-term financial planning.

For further information on the parish share calculations and the appeals process, please contact the Finance Team by calling 0161 828 1422.

How is Parish Share spent?

Watch In His footsteps, a short film that showcases the work of the Diocese of Manchester and illustrates how Parish Share money is spent. A DVD was sent to each parish in March 2015.

See also accompanying parish leaflet

The MDBF’s expenditure is mainly for the payment of stipends of clergy in the diocese, their housing and other support.  

 

 

 

 

 

 

 

Diocesan Fees

New fees and guidelines will come into effect in September 2016. Download the current Diocesan Fees booklet here.

Please return all DBF fees as soon as possible after the end of every month using the form below. It is also important that you send in a NIL return if there is no fee income for the month. Keep a copy of the form every month for your records.

Monthly Return fees form 2015

Cheques Please discourage clients/funeral directors from writing out personal cheques.

Financial Accounts

Download 2015 Accounts

Download 2014 Accounts

Download 2013 Accounts

 

 

 

 

 

 

 

 

Update to the new Charities SORP for those parishes who undertake accruals accounting

With the replacement from 1 January 2015 of all the old accounting standards by the new composite standard, FRS102, together with a new version of the FRSSE for 2015 only, the Parish Accounting Guidelines are changing. SORP 2005 is replaced by SORP 2015, which comes in two standalone versions: SORP(FRSSE) for eligible parishes, unless they choose SORP(FRS102), which is for those that are larger.

Most parishes can choose SORP(FRSSE) for 2015, as the gross income limit has been raised to £10.2m instead of the old £6.5m, while the gross assets limit has gone up from £3.26m to £5.1m.

However, for parishes' 2016 accounts SORP(FRS102) will be the only option. The company law based FRSSE reliefs, subsumed in a new Section 1A of FRS102 effective from 1 January 2016, are then to be disapplied by new amendments to SORP(FRS102) from that date. This means that for 2016 onwards, only parishes up to £500,000 gross income will be eligible for the SORP's reliefs for the "smaller" charity, which will also include opting out of FRS102's Cashflow Statement.

We are awaiting new Charities Act Regulations for 2015 onwards to replace those making SORP 2005 mandatory, so that the related Church Accounting Regulations 2006 can in turn be amended. Subject to that, the Parish Accounts Guide will be made available in a new or updated version. In the meantime we have produced a technical update to facilitate your compliance with SORP(FRSSE) for 2015 and thus keep your options open for 2016 when compliance with SORP(FRS102) will be required.

The move from SORP 2005 to SORP(FRSSE) for 2015 is likely to have little, if any, effect on a PCC’s accounting figures. However it is important to be aware of how the accounting rules have changed, as well as where extra or new disclosures are required for 2015 onwards. One significant change is that the audit threshold has risen from £500k gross income to £1m gross income.

Among FRS102's changes to the old accounting rules are:
- Definitions of the basis of recognition of assets and income and of liabilities and expenses
- Impairment rules relating to tangible fixed assets for a parish's own use
- Reporting of transactions with members of the PCC and other related parties
- Disclosures concerning employees' emoluments
- Allocation of support costs to include governance costs
- Valuation of gifts in kind
- Reporting of reserves
- Reporting of arrangements for setting pay for key personnel

 

A more detailed technical update to SORP(FRSSE) for PCCs preparing accruals-based accounts for 2015 is set out here
 

 

Budget

 

The presentation, given by the Chair of the DBF to the October Synod on the 2016 Diocesan Board of Finance budget, is now available to vew:

 Budget 2016

Parish Finance Support

Parish finance support materials are to help increase the financial effectiveness of our parishes - each a charity in its own right.

Visit the Parish Finance Support section for more information.