The annual financial report showed that in 2009 the church had a cash deficit of £99,000 as regular expenses exceeded regular income. While fundraising efforts brought in over £50,000 and events netted over £10,000, pledged giving was down £1,900 and interest income declined substantially. Regular unavoidable expenses were around £210,000 per year but regular income was only around £150,700, leaving an annual deficit of around £60,000 that was not sustainable long-term. The treasurer and others would address ways to tackle the unavoidable annual deficit.

1. Annual Parochial Church Meeting
12th April 2010
Financial Report (Charity No. 1129190)
J.A.Worthington / R.F. Buller
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2. 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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3. 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, esp Phyllis Tuckwell.
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4. 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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5. 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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6. General Funds
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7. What’s the Problem !
• Regular/unavoidable
expenses exceed regular
income and have done so
for many years
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8. 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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9. 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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10. Unavoidable Annual Deficit
• £ 60 K (actual deficit is always higher)
• not sustainable
• Major challenges. INCOME.
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11. 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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12. Thank you for listening
Questions ?
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