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Year-End Updates and Reminders
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Imputed Income - Action Required
All church institutions are reminded to contact their payroll service provider to inform them that imputed income information may need to be added to the annual W-2 Wage and Tax Statements for 2015. W-2s should not be processed until the church institution receives a letter* from the Office of the Bishop disclosing the amount of imputed income for each employee.
*These letters are expected to be mailed from the Office of the Bishop no later than December 23, 2015.
The IRS limits the amount of employer-provided group term life insurance as a tax-free benefit up to $50,000.00. Any amount exceeding $50,000.00 becomes imputed income, with taxable value to the individual.
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Housing Allowance Reporting
As the end of the year approaches, it is time for the Vestry or Mission Committee of each congregation to approve a housing allowance for their clergy.
Any changes that need to be made must be enacted by December 31, 2015, to be effective for the coming year, as housing allowances are not effective retroactively.
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*The 2015 Parochial Reports and information packets were mailed to each congregation by The Episcopal Church on Monday, December 7, 2015. Your congregation should receive this packet from The Episcopal Church by the end of this week.
Additionally, you can obtain this information on The Episcopal Church's Parochial Report webpage. Please carefully review all of the information you receive, as the Parochial Report Form and related instructions have been revised.What is a Parochial Report? The Parochial Report is a tool for the collection of data that is intended to assist The Episcopal Church in planning for mission.
Congregations may file their Parochial Reports online beginning January 4, 2016.
For more information about The Episcopal Church's Parochial Report, please click here.
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Congregational Range Sheet for 2016
The 2016 Congregational Range Sheet is created through an analysis of a number of factors from each congregation's 2014 Parochial Report, which is filed with The Episcopal Church. These factors include Sunday attendance, operating expenses and outreach.
The Congregational Range Sheet serves several important purposes. Two of the most significant purposes are:
- Lay Delegates for Diocesan Convention - As specified in Article V. Section 5 of the Constitution of the Episcopal Diocese of Northern California, each congregation is allowed to bring a specific number of lay delegates to Diocesan Convention. The number of lay delegates is based on the congregational range, which is published each year. Each congregational range is assigned a letter, "A" through "G", which corresponds to a specific number of lay delegates.
- Recommended Salary Ranges for Clergy - Each congregational range lists recommended salary ranges for clergy working at those congregations. The salary ranges for 2016 include a 1.0% COLA recommendation by the Employment Practices and Benefits Committee.
For more Church Accounting resources, please click here.
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For questions, please email Director of Finance & Administration
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The Episcopal Diocese of Northern California
Making Disciples, Raising Up Saints & Transforming Communities for Christ
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