From the Treasurer

This is a transcript of a Report prepared for delegates on the Confirmation Course, based upon draft accounts for 2009. Click anywhere on this bar to view the  draft accounts

In 2009, the expenditure of the parish was £4,500 more than the income we received.  This means that we spent £375 per month more than we received.

In the first 7 months to July 2009 we averaged monthly losses of £700.  The Planned Giving Initiative came into effect during August, and we now are averaging a small surplus of £70 per month.

For many years we made a loss, which means our Reserves have been eroded. We were fortunate to have legacies given to the Church over a number of years, and it was against these funds that we have been able to pay our way.

Our General Reserve (which we can spend in any way) has reduced to about £18,000 which would cover about 9 weeks’ running costs if we did not get any money in. We do have Restricted Reserves, but we can only spend those monies in certain ways, e.g. Playgroup, Open Door.  The figures in the accounts exclude all Restricted Funds.   

We do have Endowment Funds worth about £7,000 where we are not allowed to touch the capital.  

Also, we are fortunate to be beneficiaries of an enduring trust dating from 1949, which provides most of the investment income.  By law the capital is held by a custodian trustee, so we cannot touch that either.

It is important, therefore, that we rebuild our General Reserve. From time to time we dip into our Reserves, especially around April to June because we are only allowed to recover Income Tax from Gift Aided collections after the end of the previous tax year.

The Chester Diocese imposes the level of Parish Share upon us. In 2010 this has increased by 5% although they have frozen all their expenditure. Apparently, there is a hole in the clergy pension fund!