Church treasurers and finance committees

As the Treasurer of our Presbytery, I am reaching out to offer my support and assistance to you in your vital role within your congregations. Navigating the financial responsibilities of a church can often feel like a daunting task. However, you don’t have to face these challenges alone. I am here to help ease your burden and provide guidance wherever needed.

I understand the unique complexities involved in managing church finances, and I am committed to offering support to your church. Whether you require assistance with budgeting, financial reporting, or any other aspect of financial management, I am at your service. Furthermore, I am more than willing to make visits to your church if that would be beneficial to you. Sometimes, a face-to-face conversation can be the most effective way to address concerns and find solutions. Please feel free to reach out to me at treasurer@wvpresbytery.org or 304-744-7634 any questions or to schedule a visit. Together, let’s ensure that our congregations are equipped with the financial tools and support they need to thrive.

Board of Pensions news: Register for the new Benefits Connect

Employers and members can now register for and access the new Benefits Connect website. You’ll need to do this to view and pay your invoices, explore the new website, and start managing your benefits in one place. If you previously tried to register, BoP apologize for any technical issues you may have encountered. They have been working to ensure a seamless experience for you.

Board of Pensions webinar: Tax Tips: 2023 Tax Update and Federal Tax Return

This webinar from 2 to 3:30 p.m. Thursday, Feb. 15 is intended for all active and retired plan members, spouses, and surviving spouses. Register here.

Join Susan Holstedt, IRS enrolled agent and owner of S&H Tax Service, and Jacqueline Boersema, certified financial planner and Director, Financial Education, at the Board of Pensions, as they discuss tax tips for taxpayers who have not yet filed their 2023 federal tax return. During the first half of the presentation, Susan and Jacqueline will discuss tax tips for clergy and, during the second half of the webinar, they will address tax-saving strategies and tax-credit updates applicable to all members. This webinar will help you understand several topics for clergy (dual status, housing exclusion, Form W-2, reporting income tax and SECA tax, clergy couples, and retired clergy) and for all members (tax saving strategies for the coming year, tax credit updates – Inflation Reduction Act).

2024 IRS Standard Mileage

The Internal Revenue Service has issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be:

  • 67 cents per mile driven for business use, up 1.5 cents from 2023.
  • 21 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces, a decrease of 1 cent from 2023.
  • 14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2023.

These rates apply to electric and hybrid-electric automobiles as well as gasoline and diesel-powered vehicles.

The standard mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.

Year-end checklist

It is time for church treasurers to start working on closing out 2023 records and preparing for 2024. We should take a moment to make sure all our ducks are in a row and everything is ready for the new year, such reviewing employee W-4s and making sure that all revenue and expenses are accounted for prior to closing the books. To help with this, the resource website Free Church Accounting has a helpful checklist.

Feds roll out new Form I-9, sunset key Covid-19 deferment

All employers, including churches, are to begin using a new Form I-9, the U.S. Citizenship and Immigration Services (USCIS) announced in late July.

Form I-9 is required of employers to verify the identity and the employment authorization of their employees to work in the country.

The new form became available August 1, 2023, and allows certain qualifying employers an alternative way of examining identifying documents for new employees using E-Verify.

  • According to the Homeland Security Department rule, to use E-Verify, an employer must be an E-Verify participant in good standing, which is defined as:
  • An employer that has enrolled in E-Verify with respect to all hiring sites in the U.S. that use the alternative procedure;
  • is compliant with all requirements of the E-Verify program including but not limited to verifying the employment eligibility of newly hired employees in the U.S.;
  • continues to be a participant in good standing in E-Verify at any time during which the employer uses the alternative procedure.

The agency also announced other key changes likely affecting most, if not all, employers, including many churches. Read more here.

The new I-9 form can be found here.

More info on E-Verify can be found here.

2024 Pastor Minimum Compensation

The 2024 rates for pastor compensation are now available on the Presbytery’s website under the Documents section. At the August Presbytery Meeting, a 2% increase in minimum compensation for Ministers of the Word and Sacrament and Certified Christian Educators for 2024 to the following amounts was approved.

Cash salary: $36,435
Housing: $11,011
Utilities: $3,672
Total: $51,118

The Committee on Ministry strongly encourages all churches to consider a 2% salary increase for all pastoral leaders currently working above the minimum compensation level.

2024 Per Capita

The 2024 Per Capita rate is $30.30 per member, according to the church’s membership in the most recently filed statistical report. The 2024 Per Capita was approved at the August Presbytery Meeting. With the total rate at $30.30 per member, the Presbytery of West Virginia will keep $18.05 and send $9.85 and $2.40 to the General Assembly and Synod of the Trinity, respectively.

Helping us understand the importance of Per Capita to our connectional church is this excellent article from Presbyterians Today, titled (coincidentally enough) “Understanding Per Capita.”

Board of Pensions: New Medicare Advantage plan replaces Medicare Supplement

The Board of Pensions has begun offering enhanced medical coverage to retired members through the Humana Group Medicare Advantage PPO plan, starting Jan. 1. Retired members pay no monthly subscription rate to participate in the new plan, which replaces the Medicare Supplement Plan. Find out more here.

2024 Special Offerings Calendar

Here is this year’s calendar for the four churchwide Special Offerings of the Presbyterian Church (U.S.A.).

ONE GREAT HOUR OF SHARING: Feb. 14 to March 31

Typically received during the season of Lent, each gift to One Great Hour of Sharing supports efforts to relieve hunger through the Presbyterian Hunger Program, promote development through the Presbyterian Committee on the Self-Development of People, and assist in areas of disaster through Presbyterian Disaster Assistance. Offering distribution: 36% Presbyterian Hunger Program, 32% Presbyterian Disaster Assistance, 32% Self-Development of People.

PENTECOST: April 1 to May 19

PEACE & GLOBAL WITNESS: Sept. 8 to Oct. 6

CHRISTMAS JOY: Dec. 3 to Dec. 24

NOTE: Donations to the four Special Offerings are accepted at any time. The dates above are for times of special emphasis on the offerings. Click here for more information or to order resources, or call the PC(USA) Store at 800-533-4371.