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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