In accordance with the Trustee's policy of retaining a reserve fund of 1 years General Purpose fund expenditure our Building Society account remains untouched at £88,448 increased by the annual interest of £1366 over the 2022 reserve. The Church remains 75 in a satisfactory financial position with reasonable reserves and an acceptable working balance account. That said we must not be complacent. As stated above the giving to our India mission has risen conslderably and masks the reduction in Hall income resulting from Covid l(Kkdowns ,and the General purpose fund l ie the day to day running costs) continues to run at a loss. Overall, the Church is still runnlng at a loss and 2023 saw a large rise 7n the gap between income and expendSture. The start of 2023 has seen significant expenditure on the India mlsslon with a trtp by 3 of our fellowship to Indfa in January. Members will also be aware that the Church is also subject to the cost of living crisis facing the nation. Inflatlon is affecting our costs as are large energy price rises. Staff pay rises, penslon costs and rtses fn National Insurance costs are also Impacting on our finances. The leadership also wishes to consider certaln improvements to the Church's facilities. It is dlfflcult to predlct how Church flnances will fare in 2024. Nevertheless, wlth God's grace and providence we pray that our financial position will improve to a point where we can look forward to our income exceeding expenditure and the Church's ffnancial position becoming sustainable for the long term. We must pray that God witl guide us and continue to provide resources to tmjlld hTS Church In this communlty to his Glory. Treasurer
Section B Disclosure Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of chanty accounts". directions and guidance for examiners). Give here brief delalls of any items that the examiner wlshes to disclose. IER October 2018