Financial Briefing to the Parish: November 2022

A short briefing on the Parish finances, from John Marsland, Chair of the Parish Finance Council.

Because of the Pandemic it is three years since the last briefing and during this period your continued generosity has ensured that we have remained financially stable and have been able to carry out any essential maintenance to the Church fabric.

The balances in our accounts are £35K in the current a/c and £34K in the deposit a/c, both better than three years ago. However, as well as the need to carry out essential maintenance we are now faced with increases in the cost of energy. Over the last twelve months we have spent about £12K on energy, and we predict that this will rise to about £17K over the next twelve months. This would have been greater but we have recently secured two contracts for supplies in the future. We have a contract for two years for the Church Heating and a contract for one year for the Presbytery and Parish Room energy. We will have to negotiate further contracts to cover 2024 and beyond.

Recently we received about £9K in respect of Gift Aid. This contribution is now vital to our ongoing financial health and our many thanks to those of you already  in the scheme. If you are a taxpayer and not yet in the scheme and would like to join please contact Andy Doyle or see Fr Andrew.

During the last three years our giving profile and the role of cash in society has changed, probably for ever. More and more parishioners are now using electronic means or standing orders to donate to the Parish. The traditional collecting plate is no longer circulated during Mass. We want to encourage these profile changes by making it easier to donate by electronic means and parishioners and visitors to the Parish can now donate via the Parish website with the funds going directly to the Parish account. Other changes are being introduced over time, thank you for your patience while we go through this process.

Sometime ago we announced that a process would be found to allow the student community to contribute towards the maintenance costs of the Parish. I am pleased to report this process is now in place and the Chaplaincy account now contributes to these costs, the value is determined by taking a percentage of the total maintenance costs for the year. We are grateful to the student community for their support in this area.

Finally, the year ahead should be stable, especially with the energy contracts in place. As usual we will need to carry out a maintenance programme and maintain reserves for emergencies.

Thank you for your continued generosity.

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