Post on 26-Dec-2015
Key aspects of 2012 Annual Report and
Consolidated Accounts and Outlook for 201323 April 2013
Annual Parochial Council Meeting
Key areas of church finances
Christ Church Spitalfields
Consolidated Accounts
PCC
(Ministry & Mission)
CCSV Group(Venue Business)
Church Property
Hanbury Hall(Community Hall)
All Saints House(35 Buxton Street)
INCOME 2012 – sources of income
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NOTE: ‘Restricted income’ includes Property (Hanbury Hall & All Saints House)
GENERAL INCOME: £361,606 (↓8%)- Voluntary giving: £160,705 (↓13% on 2011)- Venue hire: £194,793 (↓5%)- Public access: £ 6,108 (↑ 23%)
OTHER ‘RESTRICTED’ INCOME: £135,245 (↓19%)- Property: £58,573 (↑7% on 2011)- Restricted funds: £76,672 (↓45%)Includes•Children’s worker (£26k)•Crypt development (£25k)•Church gardens (£10k)
CONSOLIDATED INCOME: £496,851 (↓15%)
INCOME 2012 - overview
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INCOME 2012 – sources and comparison 2009-2012
Restricted funds in 2012 include:•£26k Children’s worker (Gift Day)•£35k Crypt & Gardens Grants
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£
EXPENDITURE 2012 - overview
GENERAL COSTS: £382,394PCC: £137,774Operations: £244,620
Areas of expenditure:Mission & ministry: £ 66,738 (↓21% on 2011)Common fund: £ 56,700 (↑ 5%)Away giving: £ 14,336 (↓6%) Public access: £ 12,111 (↑1%)Church building: £103,288 (-)Venue/operations: £129,221 (↓1%)
OTHER ‘RESTRICTED’ EXPENDITUREProperty: £24,109 (↓ 28% on 2011)Restricted funds: £63,913 (↑ 192%)Includes:•Crypt redevelopment (£46k)•Church gardens (£3k)
EXPENDITURE 2012 – breakdown and development
2012 TOTAL CONSOLIDATED SPEND: £470,416 (↑ 3% on 2011)
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Expenditure 2012 – comparison 2009 to 2012
Includes £49k crypt development spend
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How Does Our Income Match Our Expenditure?
2012 RESULTS
General funds at end 2012: deficit of - £11,934 Represented by: •PCC: -£10,924•CCSV: -£1,010
Restricted funds at end of 2012: surplus of £38,369 Represented by: •Property: £25,610•Restricted funds: £12,759
INCREASE in Group funds overall: £26,435
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CASH position as at 31/12/12
General funds: £105,550
Restricted funds: £199,290•Property: (£34k)•Funds: (£165k)
TOTAL CASH on 31/12/12: £304,840**
NET CASH POSITION 2012
* Minimum reserves equal to approx. 3 months operating costs**Includes debtors, net of any liabilities falling due within 12 months
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Minimum reserve*
2013 OUTLOOK & ACTIONS• Key target is again to achieve a balanced budget, i.e. expenditure no
higher than income
• Lift voluntary giving:─ preaching and teaching on good stewardship
• Lift venue hire revenue─ work with a catering partner to increase Christmas party sales─ improve sales resources to attract & convert more sales
• Reduce costs:─ reduction in Public Programme expenditure & staff costs─ reduction in Worship Leader hours─ reduction in casual verger hours
• Improve productivity: install Sage accounting software
• Projects:- Crypt redevelopment: submit planning application; further fundraising- CCSV: exploring new business model (outsourcing)- Hanbury Hall: redevelopment to begin; commence business planning
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