STATEMENT OF FINANCIAL ACTIVITIES (SOFA) FOR ST SWITHINS PARISH CHURCH PERIOD ENDED 28[th] February 2023
Financial Overview:
FWO/Standing Orders Increase of: £1935 Overall Income Decrease of: £2,564 Overall Expenditure Decrease of: £6,098
The Parish Balance Sheet demonstrates a closing bank balance of £27,001. This is an increase of £7,020 on the previous year, leaving the parish in a very strong financial position for the year ahead.
OMEGA CHURCH
This is the first year we now have comparisons from our new multi-user system for Accounts and General Parish Activity. The comparisons are similar format to previous years which are outlined below.
GENERAL (UNRESTRICTED FUND)
Various comparisons from the Income and Expenditure of the accounts are as follows:
Incoming Resources
FWO/Standing Orders
Freewill giving was £99,531, an increase of £1,935. This is the highest Freewill Giving the Parish has ever recorded.
Loose Collections
Increase of £1283 due to the more normal services
Gift Aid Tax Recovered (Small Gift Aid Donations)
This claim is now processed quarterly through the new Omega Church System. This helps save time on completing manual claims and improved accuracy for audit purposes. The figure of £2146.38 is for this financial year.
Donations Appeals
This includes: £1485 Ukraine Appeal via Bishops Appeal.
Donations for Specific Purpose
This year all restricted income will be grouped together. The figures include Bishops Appeal, Christian Aid, Crosslinks.
Legacies
Donations in memory of late:
| • | Sammy Keatley | £1300 |
|---|---|---|
| • | Isabella McQuillan | £600 |
| • | Beryl Kane | £280 |
| • | William Spillane | £1050 |
| • | Henry Blair | £665 |
| • | Clifford Burrows | £1000 |
| • | Isobel Lee | £575 |
Non-recurring Grants
£600 received from Power NI Energy Support
Thomas S Taylor Fund
Similar amount as previous year although displayed on SOFA under Other Investment Income - £263.99
Fundraising events continued again this year and the following events were held: Sponsored Walk £1346, Christmas Workshop £395.
Fundraising Events
Rent of Land/Buildings
This is mainly money received from JC Stewart Ltd for the rent of a portion of Glebe Land for their car park. The balance relates to Glebe Land rent for farming.
Sundry Income Sundry Income incudes: Glebeland Tree income, BBC Service, Rector’s Retirement Gift Collection Envelopes of £6906. Baby Basics Baby Basics Fundraising of £1145. The year ended with a balance of £491.36. Resources Expended Church Repairs & Upkeep These amounts are similar to the last financial year with general expense only. Church Heating More regular services and heating cost increases led to increase of £2020. Rectory Repairs & Upkeep This includes an additional £1672 on previous years. Amount relates to general costs during the vacancy and will continue throughout 2023. The amounts also include 5 year fixed electrical tests at £785 and Fire tests as part of current legislation. Building Repairs & Maintenance This again is a figure relating to legislation regarding electrics and fire. The amount of £2984 relates to the Sexton House. Upkeep of Grounds This relates to trees in the Glebland which caused damage in December 2021. The work to remove the trees adjacent to station road industrial site was £1800. Fencing of £400 was replaced and Tree Survey fees of £348 also included. Upkeep of Graveyard Mainly grass cutting - A contractor is now cutting the graveyard grass twice monthly April-September. Diocesan Levy The levy is paid each month as required. General Parochial Overheads/ All figures are similar to last year with no distinct Parochial Overheads variances in expenditure. Donations to Charities and Missions All donations are similar to the previous year. All donations going forward will be grouped into one total. Other Donations This includes £6500 gift to Archdeacon Scott on his retirement
RESTRICTED FUNDS
These funds largely relate to monies going to outside charities.
Incoming Funds
Charitable Donations – These amounts are detailed on the SOFA in the ‘Restricted Funds’ column
Current Year Projected Position
The parish is in a very stable position for the year ahead. We await the rectory inspection next month which will have a list of items which need addressed during the vacancy.
In closing this financial report, I would like to thank the work of the financial team. This includes the Freewill Offering Recorders, Freewill Offering Envelopes Secretary and Gift Aid Secretary.
Gary McCulloch Hon. Treasurer March 2023