close
Logos/ADoP/Coloured
Find a Churchsearch icon
Visit the Public site

Capital Projects

Combined ShapePathPortalPathResourcesPathFinancePathCapital Projects

Overview

General Considerations

Parish Treasurer

Parish Funds

Records and Reporting

Internal Controls

Receipts

Payments

Diocesan Assessment

Asset Register

Audit, Review or Examination of Financial Reports

Annual Financial Returns

Annual Meeting of Parishioners

Budget

Capital Projects

Legacies and Bequests

Australian Charities and Not For Profit Commission

Income Tax

GST

ATO Portal

Capital Projects

From time to time Parishes may wish to invest in the construction of new buildings or major renovations. Diocesan Council has provided guidance in this respect in Policy 6.1 – Parish Property – Strategic and Project Planning.

The Treasurer may need to assess if the Parish requires to borrow money for such a capital purpose. Any project requiring borrowings needs to be carefully costed and preliminary figures from the Anglican Community Fund regarding interest rates, repayment terms etc need to be obtained.

There needs to be a clear resolution by Parish Council to proceed and if appropriate, consultation with Parish members.

It is important to note that a Parish is not an incorporated body and must therefore make an application to Diocesan Council and the Trustees to borrow money. In effect, the Trustees are the borrower notwithstanding that a Parish is responsible for the repayment of a loan.

The Parish will need to submit a three-year budget to demonstrate that it will be able to meet the interest and repayment commitments in respect of the borrowings. This budget must be reviewed by the Diocesan Chief Financial Officer who, if satisfied, will report to the Diocesan Secretary on the Parish’s ability to meet the loan commitments.

Once the loan has been approved by the Regional Archdeacon, Bishop and Diocesan Secretary as delegates of Diocesan Council, the application will be referred to the Trustees for their approval.