FINANCIAL SITUATION 2018/2019
In response to the third challenge of our Interim Minister’s March message to “Pray”, “Participate”, and “Pay”, our Finance Committee has produced a Financial Statement produced below which sets before us exactly where we, as a congregation, stand financially at the start of 2019. It also gives indication of the sort of action required now to place us where we should be financially in order to carry out the ongoing work of Christian worship and witness in our Parish and in our town. Please read it thoughtfully.
Management Accounts (unaudited) for year to 31/12/18 show an underlying deficit of £11,601 as follows:-
General Fund -£2,360
Renovation 14 Fund -£1,972
Fabric Fund -£7,269
Total -£11,601
The costs charged to the Renovation 14 Account relate to improvements in the Hall, and to the Fabric Fund, and repairs to our three properties.
Going into 2019 our funds are therefore reduced by this amount. In 2018, the income from members’ giving to the Church fell by 3.6% (-£2,900), and so we are unable to replenish these Reserves from the General Account.
Our budget for 2019 shows another deficit of -£9,087.
This clearly is a position that we cannot allow to continue, and I am asking you as members, to assist in rectifying the situation by reviewing your contribution to the Church.
An increase of 12.5% in giving would produce the extra £10,000 we need to cover the 2019 deficit and allow us to move forward with God’s work .
We plan further fund-raising exercises during the year of which I advise later.
Thank You.
Bill Borthwick. (On behalf of Finance Committee 13/2/19).
