## 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|