We have recently had the envelope collection for All We Can (originally the Methodist Relief & Development Fund). To date £440.15 has been given of which £250 is gift aided, adding a further £62.50. This brings the total to £502.65 for which I know the AWC team will be most grateful.
Now I am again preparing the annual report. I have all the figures and am studying and implementing the differences between FRSSE (Financial Reporting Standards for Small Enterprises) from last year and FRS 102 (Financial Reporting Standards) for this and subsequent years. My aim is to have it ready for signature at the January meeting of the Church Council.
The Leadership Team is planning projects for future work around the church. Last month I said that we are budgeting for a deficit of £11,679 and this could occur if we implement the work around the church that is becoming necessary.
We recently had a meeting of the Resources Committee which covers finance and property. It is an important meeting in the life of the church because every project gets an airing and many decisions are made or passed onto the Church Council for approval where required. At the meeting it was agreed that Andrew Jennings would put together an article on handling the recent surpluses on the General Fund and how they would be used to further the life of the church both in its ministry and buildings. Please see the earlier article in Focus.
After all that, I do hope you find refreshment and reward in the activities in the church as the year moves on and I thank you again for your continued financial support in the life of the church.
The financial year closed on 31st August and once again there are many points worth noting.
Giving has increased over the year and totalled £110,783. This is an increase of £3,496 (3.26%) on last year (£107,287) and is once again the highest ever achieved. Thank you.
Recovered tax is £26,042, an increase of 4.9% over last year (£24,826).
Last year 60% of available funds invested in trusts was moved to the Mixed Managed Fund (a Central Finance Board fund which takes advantage of financial market investments). As a result this has created an income of £17,701, an increase of 7.2% over last year’s £15,105.
Income from letting the caretaker’s flat contributed £12,956.
Income from the church organisations is £29,040. This is £840 down on last year.
Income from external lettings is £74,484 which is another increase on last year’s figure of £72.334 (up 2.97%).
The cost of the utilities, £39,690, is now under budget and £2,582 less than last year. We have benefited for a full year at the new lower price for gas.
Maintenance of the premises was just £467 over the £20,000 budget.
The caretakers have been careful to record their time against caretaking and doing work around the church. As a result, their costs have been maintained slightly below last year’s level and further under budget.
The surplus on the General Fund is £33,908. This will be addressed by the church stewards’ team to identify areas where work needs to be done during the coming year.
The cost to run the church is currently just over £5,200 per week.
.For the coming year, a budget has been agreed at Church Council. This is currently showing a deficit of £11,679 which indicates expenditure on new work during the year.Once again, it is with gratitude to God that the church has managed to balance the books for another year. Thank you to everyone who has contributed in so many ways