Greetings from the Financial Administrator's Desk!

 

Friends,

 New mileage rates from the IRS.  Beginning on January 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:   

Mileage Rate Changes (cents)

Purpose

Rates 2013

Rates 2014

 

Business

56.5

56.0

 

Medical/Moving

24.0

23.5

 

Charitable

14.0

14.0

 

 

The 2014 Per Capita

The Presbytery approved the 2014 budget and per capita on November 2, 2013.  The total per capita for 2014 will be $32.22 per active member.  Of this total, $21.25 is used by our Presbytery with the remainder sent, as required, to the Synod and General Assembly

 

Presbytery Expense Voucher

Presbytery Committees may need to pay a vendor to be reimbursed for an expense.  Please click here for the 2014 Presbytery Expense Voucher and instructions. 

Now might be a good time for your pastor to review his/her housing allowance designated for 2014. If they find that their allowance was too low because they incurred more housing expenses than anticipated, it can be increased for the remainder of the year as long as the Session amends the amount and it is recorded in the minutes. Ministers do not pay federal income tax on the amount of their compensation designated in advance by their church as a “housing allowance”. This does not result in any additional compensation being paid to a minister. Rather, a minister's salary can be decreased by the amount of the increase in the housing allowance. An amended housing allowance is only effective from the date of the amendment. And remember that housing allowance is only nontaxable if it is used to pay housing expenses and doesn’t exceed the fair rental value of the minister’s home. 

Discover the new Pensions.org with e-learning made easy. The Board of Pensions (PCUSA) has updated their website recently,www.pensions.org. A highlight of the new site is BenefitsConnect, an online tool that provides active Plan members secure access to their personal benefits information. Not only can members submit changes to their contact information and dependent status, but they can use online calculators to estimate their pension and death benefits. To help you understand all that Pensions.org and BenefitsConnect have to offer, the Board of Pensions has created an e-learning tutorial. This educational presentation will guide you through the many new features and tools that make these sites the definitive source for Benefits Plan and Board program information.

 

Grace and peace,

 

Lizabeth Hutchinson

 

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