Finance Report 29th April 2018 Claire Evans

2017 Financial Summary Deficit of £1.1k on the General fund (much better than the £14k deficit budgeted) Showing an £8k surplus on Restricted funds, mainly due to: the treatment of the kitchen refurbishment which will be depreciated over 7 years (£7k deficit on Kitchen fund at end 2017 in cash terms) Some donations in advance for work on the organ which took place in early 2018 Partially offset by hall roof repairs/other smaller fund movements Still a healthy balance sheet (net assets of £326k) We had income of £152k, expenditure of £153.1k on general fund resulting in a deficit of £1.1k Much better than the deficit figure I discussed last year thankfully. Partly due to higher giving and letting income but mainly less expenditure on ger…. Restricted funds on the face of it look very healthy but the £8k positive is largely due to to factors …. St Mark’s still has a healthy balance sheet of £326k, half of which consists of a flat at Brookhurst Court

Income (unrestricted) Expenditure (unrestricted) Over 74% from planned giving -£113k Premises income 22% - £33k All other 4% - £6k Parish share 40% - £62k Wages costs 27% - £29k Other support costs 19% - £29k Tithe 10% £15k Other ministry 3% - £5k INCOME Over 74% (113k) from planned giving (via plate in church, through bank accounts, CAF etc). This includes gift aid. Red 1%= other donations. Some events/miscellaneous income Grey 2% = wedding and funerals fees, concert income etc Orange slice 22% premises letting incl flat at brookhurst court Very Small slither on investment income - interest EXPENDITURE Orange 40%, £62k on Parish share , clergy costs in diocese Yellow 3% Other ministry, visiting clergy expenses, childrens work materials, music copyright and the like Green – 30% salaries for our staff team Blue – 17% Other support costs, mainly insurance, gas and elec Purple – we tithe 10% of income

Looking forward and looking back (unrestricted funds) 2016 2017 2018 DRAFT Budget £ 000s Comments ref 2018 Planned Giving 114.8 112.9 112.6 assumed giving approx in line with 2017 Other donations 1.2 4.1 1.7 assumed non repeat of legacy in 2017 Premises letting 33.5 32.8 32.2 may be lower due to Bright Sparks Other income 3.3 2.3 primarily Wedding & Funeral fees, difficult to forecast Total income 152.8   152.0 148.1 Tithe (10% of income on cash basis) 15.4 15.2 14.8 Parish Share 62.0 66.0 PCC agreed increase in Parish Share Wages 46.7 41.9 42.6 Incls payrise Other support costs 27.1 29.4 24.0 assumed no major repairs in 2018 (??) Other ministry 4.2 4.8 6.5 Vicar in post Total Expenditure (incl tithe) 155.4 153.2 153.9 Net income/(expenditure) (2.7) (1.2) (5.8) Can I firstly apologize to those who don’t like a lot of numbers as this slide is full of them. But I have included a few symbols and words so I hope you’ll forgive me A green arrow means increased income (up) or decreased cost (down) A red arrow means reduced income (down) or increased cost (up) Equals is approx. equal As you will see lots of red arrows so I am really hoping to be proved wrong on this one – Just to note the biggest figure on the page is planned giving – that’s our regular donations and the gift aid claimed on it. So if we can give a little more each we can do much more as a church. Which brings me onto thank-yous

Team effort – Thank you All those who have contributed financially to the running of St Mark’s All those that help count/bank money Tony Amanda Caroline Caroline Sorting out the payroll side all year Amanda - Bookkeeping each week - General support in the office Tony Gift Aid submissions each month 2016 Independent examiner

Any questions?