Did your predecessor put together your Parish’s last Capital Improvement Plan 15 years ago?
Is your Parish’s CIP just collecting dust on a shelf?
Where do you start if your Parish does not have a Capital Improvement Plan?
Are you wondering “what is a Capital Improvement Plan”?
A Capital Improvement Plan is a strategy used to identify, prioritize and assign funding to capital projects and equipment purchases.
This first session in a three part series dedicated to all things Fixed Assets is intended for Business Administrators, Accountants, Pastors, Trustees and Finance Council members. Catholic Mutual (CMG) and Catholic Finance Corporation (CFC) will be presenting information and providing resources to include:
• Detailed instructions for preparing, updating and maintaining a capital improvement plan.
• High-level concepts of having correct asset valuations and the importance of creating and maintaining a repair and maintenance schedule.
Does your Statement of Financial Position list a church building, but no accumulated depreciation account?
Did you inherit your fixed asset balances and not sure where those numbers came from?
Did someone change the value of your church building to the insurance value and your gut is telling that it’s just wrong?
This second phase in our three part series dedicated to Fixed Assets is intended for Parish Business Administrators and Accountants. Catholic Mutual Group (CMG) and CliftonLarsonAllen (CLA) will provide research guidance for asset valuation.
• Locating Original Asset Valuations
• Recommend Useful Life Schedule
• Recommended journal entry to correct the current asset valuation
• Recommended journal entries to get your Parish current on depreciation
• Recommended depreciation entries and frequency to be recorded in the future
This third and final session in a three part series dedicated to Fixed Assets is intended for Parish Business Administrators and Accountants. The Archdiocesan Standards Program Manager will provide a guided tour of the ParishSOFT Fixed Assets module.
Parishes will be provided resources and sample entries of common fixed assets. Samples to include new fixed asset, update to fixed assets, updates to maintenance schedule, insurance and inserting photographs, as well as reports and automated annual depreciation entries.
Parishes will also be provided step-by-step documentation and ParishSOFT training videos and articles on the Fixed Assets Module.
The Fixed Assets Initiative that was presented last year may have left some parishes overwhelmed by the full scope of the project.
We’ve had several requests to provide a recap of some of the more complicated elements, to reinforce the key points, and ensure everyone has a clear understanding of exactly what they’ll need to do.
To kick-start this recap, we’re going to take an in depth look at the first step… creating a capitalization policy. Whether you’ve just started, almost finished or just have the Capitalization Policy on your “to do” list buried on your desk, join us for this class that will give you the information you’ll need to create the perfect policy for your parish.
