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Annual Parochial Church Meeting12th April 2010

Financial Report (Charity No. 1129190)

J.A.Worthington / R.F. Buller

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Role of Treasurer Today

• Managing cash of over £500,000/a

• Handling about 1,500 transactions/a

• Preparing and obtaining approval of the Financial Statements to meet both Diocesan and Charity Commission requirements.

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Highlights of 2009• Church Fundraising for lighting £25,000

• Outward Giving / Events over £10,000

• Social Fundraising raised £8,600 net of costs

• Magazine Profit of £3,200

• Legacy Fund Expenditure of £50,000 ( P and J kitchen, kneelers for All Sts, Altar rail sockets, Architect Fees, )

• Youth Expenditure ( Youth Group)

• Hall lettings net income increased

• Church use for events that help other charities, es p Phyllis Tuckwell.

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Lowlights of 2009

Very much appreciate your Giving

• BUT• Pledged Giving down by £1,900 • Our Pledged Giving doesn’t cover our clergy costs

HEALTH and SAFETY regulations costs.We spent over £10,000 because of new regs.

• INTEREST RATES! Last year £30K earned, this year £7K, 2010 will be about £2K

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Summary 2009

• Income £223,000• Expenditure £322,000

• Cash Deficit £99,000

• General Fund used up• Legacy Fund now stands at £414,000• Investment Shares up by £4,700

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General Funds

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What’s the Problem !

• Regular/unavoidable expenses exceed regular income and have done so for many years

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Regular Expenses-2009

• Share £134,800 (but down in 2010)• Other Ministry costs (interest on

38OHD,expenses,honoraria,upkeep of services etc) £24,000

• Administrator’s and organists’ salaries £16,000

• Maintenance A/S,P&J,38 OHD £15,000• Utilities/Insurance £20,000• Total £210,000 ( £575/day)

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Regular Income-2009

• Voluntary Income (pledged giving/unpledged giving/cash collections/tax rebate) £103,000

• Interest/Dividends £10,000• Social Fund £7,500 (net income)• Hall Lettings £21,000 (net income)• Magazine £3,200 (net income)• Fees £6,000

• Total £150,700 (£412/day)

• Legacies/donations/specific fund raising

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Unavoidable Annual Deficit

• £ 60 K (actual deficit is always higher)

• not sustainable

• Major challenges. INCOME.

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Let’s be thankful-we are fortunate !

• We have Funds available for crucial building projects but

• Need to tackle unavoidable annual deficit

• Roy/Nick will address

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