Missing CUBS Unit Financial Statement - Jan 2020

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schester
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Missing CUBS Unit Financial Statement - Jan 2020

#1

Post by schester »

On the second Sunday of each month we review the unit financial statement. In the time I've been in this calling, there has never been a situation where the UFS wasn't in MLS by the second Sunday. However, today, 2/9/20, there is no UFS in MLS or LCRF.

What is the process when we don't receive a statement by the second Sunday of the month, in this case the 9th? Per https://www.churchofjesuschrist.org/hel ... t?lang=eng, it should have been in MLS/LCRF long ago and doesn't appear.

I know I can generate one manually in LCRF, but is this the same as the auto generated one? Will it cause an audit problem that we didn't review the official UFS?
russellhltn
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Re: Missing CUBS Unit Financial Statement - Jan 2020

#2

Post by russellhltn »

I'd give it a few more days. Because the first fell on Saturday, we're only 5 working days into the month - quite a bit less than the usual second Sunday.

The page you linked to said "a few days", not second Sunday.
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schester
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Re: Missing CUBS Unit Financial Statement - Jan 2020

#3

Post by schester »

I guess we will try to remember next week and I'll use this forum post to support any audit exception for why it wasn't reviewed in the first half of the month.

Looking back, I see other months where there were only 5 business days till the second Sunday and the report was available. Attached is when they were downloaded to MLS. (Since we only sync on Sunday's, I can't tell when they were actually available.

The date on December's report was 02 Jan 2020 07:26:23/CUBS, so it seems like they are automatically generated, but someone must review them or need to push some approval before they show up to LCRF/MLS. Maybe they were out sick last week?

Did others receive their reports as expected?
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davesudweeks
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Re: Missing CUBS Unit Financial Statement - Jan 2020

#4

Post by davesudweeks »

schester wrote:I guess we will try to remember next week and I'll use this forum post to support any audit exception for why it wasn't reviewed in the first half of the month.
I am no longer clerk so don't have access, but the requirement was "the report should be reviewed promptly" or wording to that effect. I would be surprised if there is an audit requirement that the monthly report MUST be reviewed within the first two weeks of the next month, especially when it sometimes is not even available by then.
eblood66
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Re: Missing CUBS Unit Financial Statement - Jan 2020

#5

Post by eblood66 »

Although the statement usually shows up early in the month, I've seen a couple times where it was delayed for some reason. There is no promise of when it will be available.

If it will allow you to generate it in LCR then that is just as official as the pre-generated one (and should be identical).

And as "davesudweeks" said, there is not specific time in the audit question regarding when it must be reviewed. If you get it reviewed within a couple weeks of when it is available, I can't imagine an auditor would have a problem.
drepouille
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Re: Missing CUBS Unit Financial Statement - Jan 2020

#6

Post by drepouille »

No January statement yet, but I won't be concerned about that until the 15th.
Dana Repouille, Plattsmouth, Nebraska
schester
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Re: Missing CUBS Unit Financial Statement - Jan 2020

#7

Post by schester »

I’ve understood that we must complete the review within the following month, but best practice has been earlier in the month. The audit question does simply say promptly.
drepouille
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Re: Missing CUBS Unit Financial Statement - Jan 2020

#8

Post by drepouille »

Here is hoping that some day we will be able to sign each statement digitally instead of printing it.
Dana Repouille, Plattsmouth, Nebraska
schester
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Re: Missing CUBS Unit Financial Statement - Jan 2020

#9

Post by schester »

drepouille wrote:Here is hoping that some day we will be able to sign each statement digitally instead of printing it.
That would be a great improvement. The UFS probably takes up more room in the filing cabinet now than the original documentation!
jdlessley
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Re: Missing CUBS Unit Financial Statement - Jan 2020

#10

Post by jdlessley »

schester wrote:I’ve understood that we must complete the review within the following month, but best practice has been earlier in the month. The audit question does simply say promptly.
The audit question, which I just had the privilege of doing today, uses the words "in a timely manner". Our bishop's work schedule takes him out of town sometimes for a couple of Sundays around the time the statement comes. As such, sometimes the statement cannot be reviewed together with me even in the month we receive the statement - albeit, only once or twice a year. In those cases we get to it as soon as possible on the first Sunday he is available. In all cases we get that statement reviewed before the next statement is received. Our auditors and the audit committee chairman agree that a statement reviewed in this manner is being done in a timely manner.
drepouille wrote:Here is hoping that some day we will be able to sign each statement digitally instead of printing it.
The purpose of signing the statement is evidence that the statement has been reviewed by the bishop and the clerk together.
JD Lessley
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