The parish is registered as a charity (no. 1133917) and the PCC (as Trustees) are responsible for ensuring that the charity remains financially viable and that the funds are used for the intended purposes of the charity.
As Parish Treasurer, my job is to monitor the income and expenditure, ensure that the Restricted and Designated funds are correctly used, and report the current state of the accounts to the PCC and the parish at large.
Financial Position to end March 2021:
The finances of the parish are healthy considering the continued impact of the COVID-19 crisis. Income is on budget at ~£73,000, but expenditure is significantly below budget at £63,500, as some of the anticipated expenses are yet to be incurred (e.g. the Audit Fee) and we continue to be cautious in the use of funds knowing the potential for a new incumbent to arrive later in the year. Therefore, the accounts currently show a surplus of nearly £9,500.
2020 End of Year Accounts
The surplus is not expected to continue, and infact the budget for 2021 shows a loss of £12,000. To this end the parish is being asked to consider adding additional support to the General Fund as part of the Appeal 2021 (see tab on this section of the site).
- (The full report can be downloaded HERE
The PCC has approved the accounts for the end of 2020. They will be presented to the APCM on May 26th.
The finances of the church were significantly affected by the COVID-19 crisis in 2020. The General Fund budget approved by the PCC for 2020 had a small deficit of around £1000, with income forecast at £370,070, and expenditure at £371,250. In the event both these figures were down around 20%.
Income for the year was down £70,000 on budget due to reductions in weddings, the letting of church buildings and coffee bar takings. The fees from funerals were also well down on budget as the Diocese changed the fee structure resulting in a significantly lower proportion of the fees received being retained by the parish. This reduced funeral fees by £14,000 from the 2019 total.
Expenditure was carefully controlled. Opportunities to furlough staff were taken, heating was minimised in empty churches and building maintenance work was reviewed and postponed where possible. The result was that the reduction in expenditure almost matched the reduction in income.
The Balance Sheet shows a rise in value of £15,000, mainly from a revaluation of the property portfolio showing an increase of £55,000 from the previous year. Balances at the end of 2020 are:
1) General Fund - £1,872,339 an increase of £54,242
2) Designated Funds - £124,373 an increase of £957
3) Restricted Funds - £195,197 a fall of £40,198 which is mainly the expenditure of the funds of ‘Building for the Future’ donated the previous year.
Les Naylor, Parish Treasurer - email@example.com