2014 Annual Parish Meeting

Finance ReportRichard Jayawant

Outline

• The treasury function within Southover• Key achievements in 2013• Overview of the 2013 Accounts• Plans for 2014• Questions

The Treasury Function

• FRG function– Advise PCC on staffing of treasury function

• New volunteer treasurer – Derek Hull• New volunteer book-keeper – Ruth Jayawant

– Act as critical friend to the Treasurer– Act as first filter on financial reports to PCC

• Format / content • Accuracy• Ensure PCC business is conducted efficiently

– Advise PCC on financial policies and procedures• Compliance with charity commission guidance• Compliance with Inland revenue requirements

Key Achievements

• Bedding in .... – Completed our second full year running with

Paxton accounting software– Management of Restricted funds resolved– Updating the gift aid register

• Building Structures to support growth– New procedures implemented– Started building greater budget discipline

Overview of the 2013 Accounts

ERRATA

Resources Expended(£K)Total £429,221

238.2

29.4

26.0

71.6

26.98.2

29.0

Ministry Costs

Buildings - upkeep

Project Expenditure

Mission Giving + Projects*

Church Activities

Southover Counselling

Other

* = includes transfer to Rwanda balance to J Lamb

Outward Giving (£K)Total £42.6K

11.8

8.7

4.9

3.2

3.5

3.5

3.5

3.5 Extra Parish ContributionTier 2 mission givingTier 2 MG 2012Tier 2 other givingTier 1 - CMS RwandaTier 1 - Judah TrustTier 1 - MECOTier 1 - Transition House

Tier1 total = £14,000Tier 2 total = £16,863

Deficit Analysis (£K)Total £70.7K

18.0

19.0

5.0

3.0

26.0

Boiler and Porch

Rwanda transfer

Counselling Transfer

2012 Mission Giving

Structural

Year End Unrestricted Current Assets £K

2012 206

2013 131

Incoming Resources (£K)Total £358,527

299.7

8.3

18.12.3

30.2Voluntary Income

Investment Income

Income from Buildings

Southover Counselling

Income from other activities

Voluntary Income(£K)Total £299,656

156.4

24.0

15.0

57.1

7.08.5

21.89.9 Planned Giving

Income tax recoverableCollections at servicesOne off gifts - unrestrictedOne off gifts - RestrictedSundry donationsRwandaGrants + legacies

Plans for 2014

• Derek Hull to be Treasurer• Ruth Jayawant to be book-keeper.• Work to strengthen budget discipline• Appoint a Giving Officer + Support Team• FRG will work to make our financial controls more

robust• FRG will start preparing the financial systems

necessary to support Trinity.• Investigate and implement GASDS / Community

Building scheme

Thank you to...

• Graham Watkins - Treasurer• Janette Watkins – • Margaret Campbell - Cashier• FRG – Steve / Jan / Zoe• Derek / Ruth – the new A Team

• ALL OF YOU – who continue to give so generously and sacrificially

Questions...