To accurately complete a thorough and detailed review of parish, school or other Archdiocesan entity related bank reconciliations the following steps should regularly be employed on a monthly basis:

  • The pastor or a member of the current finance council should be responsible for reviewing parish, school or other Archdiocesan entity related bank reconciliations on a monthly basis.
  • Month-end bank statements should be reconciled to the beginning balance used on the actual bank reconciliation to ascertain that the bank reconciliation, is in fact, using the ending bank statement balance for the period of the reconciliation.
  • Reconciled bank balances should be directly tied to the applicable month end balance sheet. Any, and all, reconciliation descrepencies shoud be researched and corrected or a detailed description of the variance should be noted on the bank reconciliation.
  • Finally, the reconciliation should be reviewed to determine that the entity has no outstanding checks or deposits that have been carried as outstanding for over a one year period.
  • Upon completion of the review process, the pastor or member of the finance council should initial and date the actual reconciliation indicating that a thorough review has been completed.