Salesbury - St Peter

Finances

 

We have introduced this page to give you information about all things financial connected to the Church. Like all organisations we need money to survive, but in addition we need to fund our mission work. We also need people who are prepared to help in any way at Church, not just through financial giving but through the giving of time. Time given is using your talents and helping the Church and working for God. It also saves us money!!

 

 

  

January 2012

I would like to thank everyone for their financial support during 2011, especially those who give by Standing Order (so there is a known cash flow situation), and those who Gift Aid their contributions, so that a significant sum (thousands of pounds annually) are added to the coffers at no additional expense to the donors.

It would, however, be remiss not to point out that the average income per month remains at about £4,000, while the regular outgoings are at least £6,000.

In November, the income was actually under £4,000, and the expected expenditure was about £8,000. The costs of the vicar’s retirement were all accounted for separately, and are not included in these totals.

As you can see, there is a bit of a cash-flow problem here!  In addition, we have extra costs for some of the priestly cover we need to maintain our services. Everyone is finding their finances are not as elastic as they used to be, but please consider whether it is feasible to review your giving for 2012, or to make some other contribution to the life of St. Peter’s which will help.

Thank you.

 Clare

The Treasurer

 

  

February 2011

From The Treasurer:

The State of the Nation  -  St Peter’s Finances

By the so-called ‘Blue Monday’, the survey of 2010’s church finances had been completed, and there was some good news!  Thanks to initiatives taken by church members and a bequest, the deficit between income and expenditure was some £4,000, compared with over £21,000 in 2009.  £2,500 had been drawn from reserves, but twice that repaid.  The increase in Gift-Aiding was significant, and fundraising after June 2010 had accounted for the equivalent of an additional month’s collection.  Grateful thanks are due to all those who switched standing orders to the new account, who increased their giving or Gift-Aided it for the first time, or who had a fund-raising idea.

More good news is that one church family has revised their giving in 2011 to cover the increases in honoraria (covering services such as the upkeep of the churchyard, the cleaning and the music), and another has already pledged to fund some of the essential maintenance listed at the back of the church.  Various expenses continue to be met at no cost to the church.   Members of the community have offered fundraising opportunities.

Of course, we are not out of the woods yet.  Virtually all bills will be greater this year.  The Parish Share deficit for 2009 was paid off, but we still owe £6,800 for 2010.  In a year when the vicar will be retiring, it is vital to demonstrate in negotiations with the Diocese that we can fund a significant ‘priestly presence’ at St. Peter’s.

Thank you for everything you have contributed in 2010.   Please consider how you can help to keep the ship afloat in 2011.

 

 August 2010

 From the Treasurer:

WAVING, NOT DROWNING!

The World Cup has much for which to answer!   Lacking a vital gene which would enable her to appreciate the finer points of the game, our Treasurer spent the time, accompanied by the drone of vuvuzelas (B flat, since you ask), scouring the past ten years of PCC accounts to ascertain why we are currently so hard-pressed (and, no, she hasn’t had any exciting holidays recently!).

To summarise the outcome of this exciting quest, out-goings exceeded income during 2000-2004, and in 2004 money was withdrawn from the Reserves.    In 2005-2008, however, generous bequests, donations and legacies were received, which enabled us to top up the Reserves, and feel able to undertake a programme of much-needed health & safety,  repair and maintenance work despite increasing costs.   In 2009, this exhausted the cushion which these donations had provided, and > £41,000 had to be withdrawn from the Reserves.   Unfortunately, this coincided with a massive down-turn in donations and bequests to St. Peter’s.

The Good News!

In November 2009, a deficit of £40,000 was predicted this year. Increased levels of weekly giving and banking economies in 2010 have already reduced that to £36,000. June fund-raising reduced it further to £35,000.  Another small bequest will enable us to pay the outstanding amount of the Parish Share for 2009, leaving a shortfall of some £31,000, and the increased number of the congregation using Gift Aid will help us even more.  The work of the Thursday Team and other church groups saves us tens of thousands of pounds each year.  Thank you very much for all this assistance.

What Happens Now?

The Standing / Finance committee of the PCC is meeting more frequently to undertake a review of our spending and attempt to find ways of increasing our income.   We are looking for your help, not simply by giving more if you are able, in terms of time, skill or money, but particularly in suggesting ways of boosting our income.

Ideas already received from the congregation:

  • continuing projects used for the Talents in order to raise money for St. Peter’s ~

e.g. items for sale and future activities have already been pledged

  • using part or all of benefits currently received automatically ~

e.g. one parishioner pointed out that although many rely on their winter fuel payments, he felt that he could donate this sum towards the cost of heating the church (£4,000 in 2009)

 e.g. in the past it has been suggested that part of a family’s child benefit might be given towards the cost of supporting a child in Africa by St. Peter’s

  • another demonstration by Nigel Haworth
  • open gardens event (see article by Dorothy & Andrew Richards in this magazine.

What can YOU suggest?

You can be assured that any money given for a particular purpose will be reserved for that purpose only. Send your ideas, please, to Clare (clareharding@aol.com or 01254 240127) or to any other member of the Team (The Vicar, Churchwardens Keith & Sue, David Dickinson and Julie Bradshaw). Thank you!

 

 

  

The Parish Share

It is most pleasing that the display at the back of the church, and the leaflets in the Parish Magazine, has provoked questions about the church finances, and increased the number using Gift Aid for their contributions.   One of the more puzzling aspects has been the Parish Share.

What is it ?

Basically, every October, the Diocesan Synod approves a budget to pay for the Diocesan and Parish ministries.   A formula is then applied to split this budget between all the different parishes in the Diocese.   The amount each parish pays is called ‘The Parish Share’.

How is it calculated ?

Not all parishes pay the same.   Some have tiny congregations.   Some are situated in areas of socio-economic deprivation.   These two factors are taken into account in calculating how much each parish owes.   The average Regular Weekly Attendance (RWA) at St Peter’s is calculated over 3 years.   Presently our RWA is 100.   next the Government’s data for index of Multiple Deprivation for Salesbury is used to produce a Socio-economic Mutliplier (SEM).   That is, poorer parishes pay less then 100% (of the budget divided by the number of parishes), whereas more fortunate ones like St Peter’s pay over 100%.   We are currently assessed as having a SEM of 124%.   Our total Parish Share in 2009 was £64,582.

How is it paid ?

Each month, a % of our total Share is paid to the Diocese.   In addition, monies are paid to the Diocese from the fees (designated as ‘Incumbent’ paid to the church for services such as weddings and funerals.  (The portion of fees designated ‘PCC’ are retained by the local church).   The final balance is usually paid at the end of the year.   However, for the first time, we could not meet this total in 2009.

For that is it used ?

The majority of the money is used to meet the cost of St Peter’s having a resident vicar.   Some contributes to the facilities provided by the Diocese, including Whalley Abbey, and the Boards of Education, Mission and Unity, and Finance.   A still smaller amount contributes to the Church nationally.   Finally, that extra 24% goes into a central pot which covers the shortfall of more needy parishes.

The ‘extra’ costs

We do not directly subsidise any individual parish.   However, the less other parishes pay, the greater the deficit the Diocese needs to fill.  The recession has affected many parishes in the Deanery, and fulfilling our commitment becomes more and more challenging.

The way ahead

The Churchwardens have written to the Board of Finance expressing our concerns, whilst reiterating our commitment to the principle of supporting the churches which need us.   Graeme Pollard from the Board replied most positively to this letter, and is coming to discuss the future with the PCC.

Clare Harding, on behalf of the PCC Finance Committee