TREASURER’S REPORT FOR THE YEAR ENDING 2022
Introduction
Praise be to God for the generosity of our congregations!
For 2022 the PCC approved a budget with a deficit of circa £5,000, based on fairly static income and expenditure figures against 2021.
As forced closure of the churches and church hall due to Corona virus becomes a distant memory, the finances of the church appear to be settling down.
| 2022 | 2021 | 2020 | 2019* | 2018 | |
|---|---|---|---|---|---|
| Total income | £80,508 | £73,838 | £83,013 | £86,260 | £89,511 |
| Total expenditure | £80,668 | £81,606 | £76,104 | £91,340 | £90,691 |
| Surplus / loss | (£160) | (£7,768) | £6,908 | ||
| (£5,080) | (£1,180) |
*first year of Receipts and Payments accounts
As you can see from the table above, the downward trend in income appears to have been reversed and the cost base appears to have remained static
However, like many households and organisations we have felt the impact of the ‘cost of living crisis’ as the fuel bills have been large and we have seen a small number of cases of a reduction in regular giving due to pressures on personal finances.
Finally, it is worth noting that we paid our full Parish Share in full as per the 2022 budget proposal and we maintained our Away Giving at 10% of income. Both these points have been discussed at the PCC when setting the budget and will continue to be our position, when possible.
2023 budget
The PCC has approved a budget for 2023, with budgeted income of £76,905 including a gift day in the Autumn and a budgeted expenditure of £81.163 which will lead to a deficit of £4,257. We have had no choice but to continue to budget for an ongoing increase in the costs of both gas and electricity.
It is our intention to maintain our Parish Share payments to cover our full contribution, however the PCC has agreed to keep this under “watch” and review the decision should the finances look poor towards the end of the year, with the stated intention to adjust our payments so that the overall position is breakeven / neutral.
These figures do not include income and expenses managed separately by the Friends of All Saints.
Thanks
As treasurer and on behalf of the PCC I would like to thank everybody who made donations to the Church. No matter how big or how small, regular or simply oneoff, each donation helps support the functioning of our Church and they are all very gratefully received. Thanks to you all.
Acknowledgements
As always, I would like to give a special thanks to Jo Saward without whom I wouldn’t be able to complete my function as treasurer and the PCC as a whole who are very supportive of the finance function.
Thanks also to Andrew Bowtle for carrying out the independent examination of our accounts, as required by the Charities Commission. I’m also delighted to report that he is happy to carry on “the foreseeable future”.
Prepared by Peter Garner – Treasurer
18[th] April 2023
Financial Statement
The independent examiner, Andrew Bowtle has raised no concerns and has indicated that he is happy to continue for the foreseeable future
The following is a summary of income and expenditure for the year ended 31 December 2022
Parochial Church Council of the Ecclesiastical Parish of High Ongar
Financial Statements for the Year Ended 31 December 2022
Receipts and Payments Accounts
| Not e RECEIPTS Voluntary receipts: Planned giving Collections at services All other giving/donations Gift Aid recovered Activities for generating funds Investment income Church Activities 7 Total receipts PAYMENTS Church Activities: Diocesan parish contribution Clergy and stafng costs Church running expenses 8 Hall running costs Mission giving and donations Costs of generating funds: Total payments Surplus/ (defcit) |
Unrestrict ed Designate d Restricted Funds Funds Funds £ £ £ 47,106 - - 2,574 - 309 8,082 - 2,623 11,107 - - |
TOTAL 2022 £ 47,106 2,884 10,705 11,107 |
|---|---|---|
| 68,869 - 2,933 712 238 1,216 72 - 680 5,709 79 - |
71,801 2,166 752 5,788 |
|
| 75,361 318 4,829 |
80,508 | |
| 53,123 - - 549 - - 14,533 - 1,520 2,745 - - 5,800 - 1,365 76,750 - 2,885 30 133 870 76,780 133 3,755 (1,419) 185 1,074 |
53,123 549 16,052 2,745 7,165 |
|
| 79,635 1,033 |
||
| 80,668 | ||
| (160) |
Transfers between funds
| ransers eween uns Cash at bank and in hand at 1 January 2022 6 Cash at bank and in hand at 31 December 2022 |
- - - (1,419) 185 1,074 20,648 1,736 24,539 19,230 1,921 25,613 |
- |
|---|---|---|
| (160) 46,923 |
||
| 46,763 |
There were no receipts or payments relating to endowment funds during the year ended 31 December 2022
Statement of Assets and Liabilities
| No te Cash funds Bank current account Cash in hand Deposit funds Other monetary assets Gift Aid Recoverable Investment Assets Investment fund shares at market value: 3 Norton Mandeville Tithe Chancel Fund Sunday School Trust Endowment Fund Liabilities 2022 invoices paid in 2023 |
Unrestri cted Funds £ 7,831 - 11,398 19,229 6,899 - - - 1,217 |
Designa ted Funds £ - - 1,921 1,921 - - - - - |
Restrict ed Funds £ - 25,613 25,613 - - - - |
Endow ment Funds £ - - - - - 3,409 13,453 16,862 - |
TOTAL 2022 £ 7,831 - 38,932 46,763 6,899 3,409 13,453 16,862 1,217 |
TOTA L 2021 £ 2,846 574 43,50 3 |
|---|---|---|---|---|---|---|
| 46,92 2 |
||||||
| 5,617 | ||||||
| 3,756 14,40 4 |
||||||
| 18,16 0 |
||||||
| 455 |
Notes
1 The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis
2 The PCC recognises the asset of the land and buildings known as St James’ Hall, St James’ Avenue, but does not value this asset in the statement of assets and liabilities.
3 The endowment funds have to be retained as capital funds, and are invested in funds managed by the Chelmsford Diocesan Board of Finance.
4 Reserves Policy It is PCC policy to try to maintain a balance on unrestricted funds that equates to at least three months' unrestricted payments.
This is equivalent to £19,187. It is held to smooth out fluctuations in cash flow and to meet emergencies. The cash balance of £19,229 held on unrestricted (not including designated) funds at the year-end meets this target.
5 Outward giving policy
The PCC models good practice in Christian giving through its outward giving policy. Amounts given as a result of specific fund-raising events and special collections are augmented by amounts allocated from general funds so that a total amount equal to 10% of general fund income is donated to local, national and international charities.
6 The movements in designated and restricted funds during the year were:
| Designated Funds Benevolent Local Mission Bible Notes Equipment Restricted Funds All Saints Belfry Youth Work Give away Community Christmas Garden of Remembrance |
Bal b/fwd - 791 864 24 57 1,736 21,102 882 1,892 145 394 125 24,540 |
Receipts - - 238 79 - 318 2,075 175 667 1,220 691 - 4,829 |
Payments - - 64 68 - 133 1,251 360 215 1,365 565 - 3,755 |
Transfer - - |
Bal c/fwd - 791 1,038 35 57 |
|---|---|---|---|---|---|
| 1,921 | |||||
| 21,927 697 2,344 0 520 125 |
|||||
| 25,613 |
The restricted All Saints fund is managed by the Friends of All Saints Norton Mandeville. The restricted Give away fund is used to record monies raised during the year for specific causes and charities, as these monies are restricted to the purpose for which they were raised.
7 During the year to 31 December 2022, church activities were made up of £1,627 (2021: £3,952) of fees received for weddings and funerals, and £4,065 (2021: £1,809) from the hiring of St James' Hall.
| Church running expenses are | |||
|---|---|---|---|
| 8 | made up of: | 2022 | 2021 |
| Music and Worship expenses | |||
| 682 | 614 | ||
| Church building running | |||
| expenses | 5,643 | 4,838 | |
| Church ofce expenses | |||
| 308 | 1,806 | ||
| Printing, postage and stationery | |||
| 1,462 | 1,926 | ||
| Service expenses | |||
| 263 | 157 |
| Upkeep of churchyard and grounds Maintenance expenses |
4,626 2,790 1,487 5,357 |
|---|---|
| 14,471 17,488 |