1. Finance Report 2016
URC SW Synod
11th March 2017

2. Contents
M&M 2016 & 2017
Income & expenditure 2016
Balance sheet

3. Mission & Ministry Contribution
The M&M pledge from SW Synod for 2016 was
£1,350,000
Our actual contribution was £1,351,000
A little over the target
Our commitment for 2017 is £1,310,000
Our giving almost matches the costs of ministry we receive
WELL DONE to those who contributed
Particular thanks to those that increased contributions by the 1% requested and to those who gave considerably more
Special thanks to the churches that have contributed.
Special thanks to 99% of the churches who have responded positively to the request to support the Minister’s Pension fund
Thanks to David Hayden and our M&M advisors for the work that they do in order to get the MMF contributions agreed

4. Where does M&M go? 75% to pay stipendiary ministers & CRCWs
25% on programs mandated by our representatives at General Assembly and on administration and legal matters

5. Income
Major category
2015
2016
Investment Income
217,241
257,385
Donations & Legacies
21,905
23,006
Charitable income
27,828
331,000
Other income
117,084
436,706
Total
384,058
1,048,097
Investment income has been maintained.
Sales of Bishopsworth, Tiverton & 5 Westward Road; closure of Lawrence Hill
Other includes Avebury dilapidations

6. Expenditure Grants Category 2015 2016 Institutional Grants 98,024
75,864
Mission Grants
54,850
116,560
Property Grants
97,968
100,633
Other Grants
1,700
1,350
Total Grants
252,542
294,407
Major difference in grants was 240K to Westminster committed in 2011

7. Expenditure Direct Costs
Category
2015
2016
Training & conferences
24,733
27,814
Church Support
7,703
15,933
Youth activities 91
774
Special Ministries
109,162
115,145
Pastoral Advisors
47,819
47,337
Property costs
20,684
34,311
Other costs
1,166 55
Total
211,358
241,369
Staff costs are reductions in hours

8. Expenditure Support costs
Category
2015
2016
Synod & Area costs
12,062
16,556
Auditing costs
8,370
8,970
Printing, stationery & Postage
6,977
6,927
Utilities
4,369
8,244
Office costs
8,021
9,127
Property costs
14,185
14,550
Governance costs
1,252
2,641
Staff costs
98,005
97,598
Total
153,241
164,613
Major expenses on Synod Office, not capitalised because of value of property and Bakers Close
Losses include sales of some investments which we reinvested

9. Summary Category 2015 2016 Income Grants Direct costs Support costs
384,058
1,048,097
Grants
252,542
294,407
Direct costs
211,358
241,369
Support costs
153,241
164,613
Total spend
617,141
700,389
Surplus
(233,083)
347,708

10. Summary Category 2015 2016 Net incoming Gains/(losses) on assets
(233,083)
347,708
Gains/(losses) on assets
37,889
1,334,008
Net funds movement
(195,194)
1,681,716
Significant gain in value of investments
These figures may change as a result of Audit

11. Balance Sheet 2015 2016 Category Tangible assets 1,919,815 2,059,656
Investment property
1,588,538
2,442,825
Other investments
5,758,977
6,284,092
Current Assets
185,360
438,251
Current liabilities
(169,537)
(185,860)
Long term liabilities
(121,408)
(195,501)
Net Assets
9,161,745
10,843,463
We have been lucky and we are moving from being a middle of the road Synod to one verging on more wealthy.
However in order to fund the normal level of spending of around £450K we need income generating assets of at least £10M.
Currently they are around half this value. We depend as do ALL other Synods on sales of property to make ends meet!
Liabilities are grant promises; long term includes Westminster commitment