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To: Pastors, principals, administrators, business managers and bookkeepers
From: Patrick Warner, parish accounting manager, Office of Finance
REMINDERS BEFORE CLOSING FISCAL YEAR-END 2024-2024
IMPORTANT DATES:
Below is a reminder of the important dates concerning the 2024-2025 fiscal year-end.
- August 31, 2025 – Close fiscal year 2024-2025. Non-ParishSOFT Accounting users, please submit your June 30, 2025, financial reports to the Finance Office by this date
- September 30, 2025 – Submit the certification letter for fiscal year 2024- 2025 to the Office of Finance. The parish and school certification letter templates are posted on the Office of Finance webpage under Policies, Procedures and Best Practices.
- October 31, 2025– Submit a copy of the annual report, published for parishioners or school parents, to the archdiocesan Office of Finance.
CASH – DEPOSITS IN TRANSIT – Before closing the year-end, make sure there is a zero balance in account 1070, Cash – Deposits in Transit. Clear any balance in the account before closing the fiscal year. This account must be zero before closing.
OUTSTANDING CHECKS AND DEPOSITS – Clear any outstanding checks or deposits, from the bank reconciliation, that are over 60-90 days old.
LOANS – If the parish/school has a loan, be sure to reconcile the loan balance on the balance sheet to the loan balance on the June 30, 2025, D&L (Deposit and Loan) statement from the archdiocese.
RECONCILE – reconcile all non-checking/savings account balances on the balance sheet. Contact Patrick Warner if:
You have remitted all the second collections but still have second collection balances on the balance sheet
You have any tax withholding accounts (federal, FICA, state) with balances
You have any other balances in the assets or liabilities (ex. petty cash, payroll deductions, Mass stipends, prepaid items, etc.) that you cannot reconcile
ENDOWMENT ENTRIES:
Please do not close the fiscal year without recording the endowment entries, through June 30, 2024. The Catholic Foundation of North Georgia no longer mails the statement. Instead, you will need to download the statement from the Catholic Foundation portal. The June 30th statements should be ready by the last week of July. If you do not have access the Catholic Foundation portal, please contact, John Ronco, jronco@cfnga.org, the director of finance at the foundation.
ARCHDIOCESAN INVOICES:
As one of the last journal entries for the 2024/25 fiscal year, the Office of Finance requires all parishes and schools to record, on the balance sheet, any unpaid archdiocesan invoices (more than 60 days old) as of June 30, 2025. In ParishSOFT Accounting, these unpaid invoices will be recorded as journal entries. You will debit the appropriate expense – Assessment, Annual Appeal Shortfall, Employee Benefits, etc. – and credit the balance sheet account, 2990 Due to Archdiocese (we may need to add this GL# to your chart of accounts). Please date the journal entry 6/30/2025. When these specific invoices are paid in the future, you will use the GL# 2990 on the bill/payment to the archdiocese, instead of the actual expense account.
Please see these pages for instructions on closing the fiscal year.
If you have any questions or would like assistance, please contact: Patrick Warner, pwarner@archatl.com or 404-920-7410.
