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1 FINANCIAL CONSULTATIONS 2013 Registration and. 2 Welcome Domestic Arrangements Opening Prayers.

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Presentation on theme: "1 FINANCIAL CONSULTATIONS 2013 Registration and. 2 Welcome Domestic Arrangements Opening Prayers."— Presentation transcript:

1 1 FINANCIAL CONSULTATIONS 2013 Registration and

2 2 Welcome Domestic Arrangements Opening Prayers

3 3 Local finances – risks v opportunities – in a national context Brian Newey Chairman, ODBF

4 Discussion groups Questions, comments and discussion 4

5 5

6 6 Balancing the diocesan budget Rosemary Pearce Diocesan Secretary

7 Church of England Worshippers 20071.2 million 20300.5 million

8 Living Faith Sustaining the Sacred Centre –It nurtures & cares for its members spiritually & pastorally Making Disciples –It will grow in number and depth

9 Living Faith Making a difference in the world –It looks outwards and serves the needs of the local community – it is a prophetic and countercultural voice for justice in society

10 Living Faith Creating vibrant Christian Communities –Which includes a diversity of people of all ages

11 Living Faith Shaping confident collaborative Leadership –The focus for 2014; men and women, clergy and lay people, working together

12 Future work Core Work New areas of work Strategic Development

13 Refocusing of departmental activity to support Deanery Mission Action planning. Reshaping training approaches for the development of lay discipleship

14 Strategic Development Encouragement and facilitation of Mission Action Planning in parishes The development of a comprehensive approach to enhancing involvement with young adults – teens and twenties

15 Strategic Development Support for and resourcing of Collective worship in schools – for staff, clergy and church members who lead or assist in leading worship in schools. Engagement with new Communities – including the support and provision of new churches

16 Strategic Development Providing clergy, LLM and lay conferences which help to shape confident, collaborative leadership Maximising new technology and the intelligent use of data

17 Mission through Ministry Budget Item £kDescriptionObjectives & Outcomes for 2014 Pay costs 381Staff costsBishop Council Priority number 8 To implement appropriate processes of discernment for all people exploring ordinated and licensed ministry enabling 40 people to attend BAP and 20 to attend LLM selection conferences during the year

18 Mission through Ministry AimActivityPerson(s) responsible Time line FTEBudgetResults expected Discernment Enable national selection of people judged by diocese to be called to ordained ministry 45 candidates sent to BAP, CP, RDP, PP C4 Faculties, CRB Queries JCB, DH, CW, RO, AP, SF On- going 0.8£2,400Candidates progress to appropriate training

19 Central Services Review Criteria How does this work help to grow the Church in such a way that the Church can grow the Kingdom? Is it a legal requirement? Is it the most efficient way of achieving the objective?

20 Central Services Review Criteria If we didnt do it would someone else pick up or finance the work? Should this work be undertaken centrally or locally?

21 Increased Income Building Services to Schools up from £142k to £193k Rental of Parsonages during vacancies up £50k to £475k PV Panels £90K Energy Audit Grants for Churches £20K

22 No inflationary increase for four years Saving £300,000

23 September forecast 2013 £260,000 improvement 23

24 £50K removed totally in 2013 a further £50K in 2014


26 Feedback, questions and comments 26

27 27 Budget 2014 and beyond Michael Hardman Vice Chair Nigel Wearne Director of Finance

28 Amersham

29 2014 Budget Assumptions 29

30 Banbury

31 2014 Budget Overview Budget 2013 £000 Budget 2014 £000 Direct ministry costs14,75514,727 Church of the Future3,5953,719 Support costs – National Church985979 Support costs – Diocesan3,6863,635 Glebe and Fees income(4,182)(4,284) Parish Share(19,045)(19,235) Budget surplus to rebuild reserves206459 31

32 Bicester

33 Direct Ministry costs Budget 2013 £000 Budget 2014 £000 Stipends8,0978,063 Employers National Insurance684645 Pension2,7792,783 Subtotal11,56011,491 Cost of providing housing3,1953,236 Total direct ministry costs14,75514,727 33

34 Chipping Norton

35 Church of the Future Budget 2013 £000 Budget 2014 £000 Pre-ordination grants372365 Ordination and first appointment grants 11183 Direct costs of curates in training1,8981,983 Diocesan training costs450467 National Church training for ministry764821 Total3,5953,719 35

36 Milton Keynes

37 Support costs – National Church National Church costs Budget 2013 £000 Budget 2014 £000 National Church responsibilities637612 Grants and provisions7576 Mission agencies clergy pensions3246 CHARM (Churchs housing assistance for the retired clergy) 241245 Total985979 37

38 Newport Pagnell

39 Support costs – Diocesan Diocesan costs Budget 2013 £000 Budget 2014 £000 Parochial ministry support1,2301,165 Mission of the Diocese1,7581,786 Compliance and governance708710 Share rebates411415 Share under collection594577 Vacancies(709)(719) Trust and other investment income(306)(299) Total3,6863,635 39

40 Oxford

41 Parochial Ministry support costs – more details Parochial ministry support Budget 2013 £000 Budget 2014 £000 Bishops and Archdeacons costs less central church support 469510 Clergy removal costs10498 Grants – clergy & parish building206191 Clergy HR, service in sickness & vacancies & other clergy costs 451366 Total1,2301,165 41

42 Slough

43 Mission of the Diocese costs – more details Mission of the Diocese Budget 2013 £000 Budget 2014 £000 Mission team – Making Disciples410415 Mission in the World143 Board of Education grant235239 Grants – ecumenical, PACT and others268270 Communications260234 All other mission activities442485 Total1,7581,786 43

44 44 And the 2014 Share Allocation Scheme Nigel Wearne Director of Finance

45 Share Allocation Scheme 2014 We aimed to improve Simplicity Transparency Fairness Mutual support clarity Sensitivity to parochial ministry cost changes Equity between deaneries and parishes But still focused on Christian generosity and discipleship

46 Share Allocation Scheme 2014 A few of the new features: Layout and description of the budget Direct costs of ministry Revision of clergy numbers as at 1 September Better measure of relative wealth between deaneries & parishes

47 Share Allocation Scheme 2014 3 part share scheme: £14.7M Direct ministry costs of stipendiary clergy and House for Duty posts £3.7M Church of the Future – all national and diocesan clergy training costs £4.6M Support costs – national and diocesan

48 Share Allocation Scheme 2014 Allowances: Credit for wedding and funeral fees Use of glebe income ….for Urban deprivation allowances Rural relief Deaneries that do not receive these two allowances are supporting those that do by a total of £1.2M Use of the balance of the glebe

49 Share Allocation Scheme 2014 Some deaneries are adopting the diocese to deanery allocation method Some deaneries are not! Many deaneries allocate to benefice and then to parishes Some deaneries are better at allocating than others! Communication across parishes is key

50 Questions and discussion 50

51 51 Parish Buying Scheme Russell Stables C of E Procurement Officer

52 Reflections and Conclusions 52

53 Prayers and Close 53

54 LUNCH to 1pm 54

55 Treasurer updates 55

56 Gift Aid and Parish Accounts software 56

57 Parish Finances Becky Morris Financial Controller & Parish Treasurer 57

58 Responsibilities – role of the Treasurer Implement PCC financial decisions Book keeping and proper records Budget setting, monitoring and financial reporting to the PCC Meet financial obligations, make payments Annual accounts and statutory reporting Safeguard income 58

59 Budgeting and monitoring Why are budgets needed? Budget setting – how? How to engage the PCC? Monitoring and follow up 59

60 Meeting financial obligations and making payments Managing bank accounts Online banking? Parish share by standing order? Clergy expenses – where to find guidance 60

61 Safeguarding income and related issues Cash handling Encouraging regular giving Gift aid – update 61

62 Problem areas: Fund accounting Unrestricted funds = for general use Designated funds = set aside by the PCC for a specific purpose, PCC can change the use later or revert these to unrestricted Restricted funds = given by the donor for a specific purpose, can only be spent on this Endowment funds = given for long term, usually only the income generated by the fund can be spent 62

63 Questions and discussion 63

64 Financial Reporting Nigel Wearne Director of Finance 64

65 Financial Reporting – legal framework? Charities Act 2011 & Charity SORP C of E legal framework: o PCC Powers Measure 1956 o the Church Representation Rules and o (the Church Accounting Regulations 2006) 65

66 What reports do you have to produce? Receipts and Payments Accounts: (If gross income £250K or less) 1.Trustees Annual Report 2.Receipts and Payment Account 3.Statement of Assets and Liabilities 4.Independent Examiners report 66

67 Trustees Annual Report - content Administrative information Structure, governance and management Aims and Purposes Objectives and Activities Achievements and Performance Financial Review Reserves Policy Plans for future 67

68 Independent Examination Required by the Church Accounting Regulations and the Charities Act Appointed by APCM No connection with the PCC, can be a church member Thresholds 68

69 Statistics for Mission Finance returns Membership returns Electronic v paper New forms and introduction of Central Church web collection system Link to new share scheme New time frame set by Central Church 69

70 Where to find out more? Parish resources website Association of Church Accountants & Treasurers – Deanery Group can join for £6.50 a head. Good value. PCC Accountability: The Charities Act 2011 and the PCC: book from Church House Publishing or Amazon 70

71 Questions and discussion 71

72 72

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