FINANCIAL STATEMENTS OF THE COUNCIL FOR THE YEAR ENDING 31 DECEMBER 2022 Flnanclal Revlew 2022 2022 was an extremely 6xpensive year for MiGkleham PCClSt Michael's Church. Total exp8nditur8 (induding both expenditure on projects and regular day-to-day expenditure) exce8ded income (including both Expendable Endowment Fund income and income from inwards giving, fundraising and Church fees) by £85,193.99. It has been necessary to draw down further capital from thè Expéndablè Endowment Fund to help cover costs, as appears below. Further details of inu)me and expenditure are shom in th8 accompanying Statsment of Financial ActivTrties, and are summarized below. Inward$ giving, from planned giving subscriptions to the Parish Giving Scheme I'PG8') and standing orders and from plate and card reader collections (together totalling £39,527.96, net of tax recoveries), has still nol COvered to pre-Pandemic levels, figures for planned giving and colle¢tion$ higher than for 2021, but still about £5,500 less than the equivalent foures for 2019. Our fund raising inm8, at £2,242.97 (afler deduction of fvndraising expenses) was substantially less than 2021's exceptional figure of £6,331 (largely resulting from payments for filming in the Church and Churchyard). The most significant contribution to fundraising incnme was the very CCeSSful and enjoyable Hatvest Suppèr, %thith raised just over £500, though that is of course primarily a soaal and not a fijndraising event. Fee income, from weddings and funerals, was again substantially lower in 2022 than in 2021 (£3,611, as compared to £7,190.93 in 2021). 11 has. hver, been encouraging that, following the stewardship semons and financial presentations in Odober 2022, and c£)rrespondence subsequent to those events, by the time of writing 11 regular givers Ihrough the PGS have inGrea¥ed their monthly donations, and Ihere have be@n 5 new subscribers to the PGS, induding 2 who have switched from giving by standing order to the ffl0 lax efficient and administratively convenient way of giving through the PGS - as a result of which planned oiving will increase, on an annualized basis. by some £7,200 (exdusive of tsx recoveries). We Nre also blessed with a legacy of £5,000, as further unrestricted income. NOthStandIng this additional income, the PCC app6ars to be increasingly dependent upon income from the Endowment Fund to meet not onty expenditure on capital projeds, but also day-to-day expendibjre which most Parishes have to attempt lo cover from regular sources such as inwards giving, fundraising and Church fees. But given the ongoing need to cary out expensive repairs and Maintenan to Church and Chapel, we cannot always rely on End0ent Fund income to bale us out from defiats on 'General Fund. aclunt. The 2022 accounts reveal a deficit of £22,918.12 on 'General Account'_ comparing ino)me from inwards giving (excluding legacies), fijndraising, fees for weddings and funerals, and Parish Magszine receipts (total 'General Fund, income £67,845.89), with day-lo-day expenditure, including Ministry costs (of which the most subslantial ilem, as always, is the Diocesan Parish Share, at £37,749), Church wnning and maintenance, administration, OUardS giving of £3,153.90 (induding donations to thé Red Cross Ukraine Appe81 and the Tearfund Pakistan Earthquake Appeal), and donations totalling £9S7.40 to bcal ¢¢arities, pcclapcm Aprfl 2023*ctlon BIIBZ Pagelof4
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