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​​​6.4.7 Reporting

To maintain the location's financial records and make gathering data at the end of the year easier, at the beginning of each month, locations shall perform the following procedures for the preceding month:

At the fiscal year-end (after June 30), perform the following fiscal tasks:

  • Summarize receipts and disbursements for the annual report​ (required: ACES email address, cost center, and report access code).

  • Prepare the annual r​ep​ort​ (required: ACES email address, cost center, and report access code); the annual report is due by a specified date in August and late submission of annual reports may have adverse consequences.

At the calendar year-end (after December 31), the payroll service will prepare and file federal Forms W-2 and W-3 and the California Form DE 34 (see New Hire Reporting). Locations shall prepare and file Forms 1099 and 1096 for independent contractors and other W-9 vendors.

6.4.7.1 Monthly Financial Reports

Parishes, parish elementary schools, and parish high schools shall submit monthly financial reports to the pastor/administrator. All high schools, both archdiocesan and parish, shall submit monthly financial reports to the Department of Catholic Schools.​ Elementary schools that meet certain criteria (e.g., delinquency with financial reporting, low enrollment, and missed bill payments) may be required to submit monthly financial reports to the Department of Catholic Schools, in addition to the monthly report to their pastor/administrator. 

Reports for each month are due on a specified day of the following month. 

Monthly financial reports must include the following reports; most are readily available ​through Quickbooks or equivalent accounting software:

  • Revenue and expense (profit and loss) statement(s) for the current month and year to date 

  • Transaction report​

  • Balance sheet​​

  • ​Budget vs. actual report​

  • Copies of bank statements (if sent online to location, must be downloaded)

  • Reconciliation of all bank accounts, including ministries, scrip, bingo, parent o​rganizations, etc.​

  • Report of outstanding payables, including amounts owed to the ACC

  • Report of accounts receivable (e.g., tuition and fees)​

  • Payroll reports

Monthly financial reports should optimally include the following:
  • Cash flow forecast

  • Report of credit cards and cell phones used, including a copy of the current credit card bills, as applicable, and the end-of-the-month balances on such credit cards

  • Report of unbudgeted activities that have or are expected to have financial impact

​6-10-21


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