The purposes of the annual audit of the congregation’s books of accounts are to assist the vestry and the clergy in meeting their fiduciary obligations by ensuring that the books of accounts have been maintained properly and to confirm that the books have been kept on generally accepted accounting principles.

Our Canons, and the Episcopal Church’s Canons, require every parish and mission to provide the diocesan treasurer with a copy of their audit report by September 1 following the calendar year audited.

Parishes with operating income of $650,000 and above are required to have an audit or review by a certified public accountant.

Parishes with operating income between $150,000 and $650,000 have several options. Click here for Parish Audit Guidelines. The Diocesan Audit Team can assist these churches with their audit requirements.

Audit Preparation Checklist

Audit Committee Procedures

Churches with income $150,000 or less, may use this audit program.
 

How to determine your church's operating income
Operating Income is defined as all funds from whatever source that is used for the general operation of the congregation.  The general operation of the congregation includes- but is not limited to- compensation of clergy & lay staff, all expenses related to operating and insuring the building(s), expenses of the music program, church school, adult education programs, flowers and supplies for the altar, diocesan assessment, and office expenses. Operating income shall include restricted funds used for operating purposes such as a donor restricted gift that was designated to be used for the rector’s salary. Operating income will typically equal or nearly equal operating expenses.
 

If you have questions about parish audits, please contact Director of Finance and Administration Judy Dobson, jdobson@diosova.org or 757-213-3386.

Audit reports should be mailed to:
Episcopal Diocese of Southern Virginia
ATTN: Judy Dobson
11832 Rock Landing Dr, Suite 100
Newport News, VA 23606-4231