We are all given a trust and must prove faithful (1 Corinthians 4:2).
An important part of stewardship is the review of financial records to reduce risk of loss, improve confidence of those who give, and help protect our church. Our canons require an annual review with report to be made to the Diocesan Office no later than September 1st.
To simplify this process and keep costs low, the Finance Committee established the Financial Review Team with members who are experienced and knowledgeable in Episcopal Church financial systems. Their role is to examine and review church accounts to determine that funds coming in, going out, or being held are accounted for, managed and reported appropriately.
Because of past experience, the diocese presumes use of FRT services unless told differently. Congregations may use an independent audit by a CPA or request the Finance Committee’s permission to use an outside financial reviewer.
A congregations will be sent a "Starting Your Review with FRT" packet. Performing a review typically takes up to 60 days to complete.
A Note on Clergy Discretionary Funds.
A copy of the review report of any clergy discretionary funds must be returned as well. These reviews are most often performed by a cleric not connected to the congregation. The Financial Review Team may conduct this review at additional charge.
Financial Review Team Rates
Congregations alternate between an on-site or a form only review.
• Form submission & on-site visit: $450
• Form submission only: $300
• Affiliated organization or entity:
$50 per hour
A $100 surcharge may be assessed for poor preparation or lack of materials resulting in an excessive amount of time to conduct the review.
Fees may be reduced or waived by the Finance Committee following a written request sent to the Diocesan Treasurer.
2018 Review Types
Looking for Forms
If you have misplaced the documents or forms mailed to the congregation, please contact the Diocesan Office to request replacement forms.