2018 Financial Statements Mike Sturgess Email: - - PowerPoint PPT Presentation

Diocesan Synod: 11 May 2019

2018 Financial Statements

Mike Sturgess Email: mike.sturgess@hotmail.co.uk

For where your treasure is, there your heart will be also.

Matthew 6 v 21

• Operating deficit

(£643,682)

• Loss on investments (£924,636)
• Loss on revaluation

(£289,620)

• Overall deficit

(£1,857,620)

Overview – income and expenditure

£3,637,402

£643,682

£1,470,4 03 £894,158 £456,567 £311,862 £364,099 MMF Deficit

Investments

£4,832,173 £339,315 £327,352 £2,013,644 £280,326 Ministry costs

Support for Mission & Ministry ABC

May 2018 Synod:

• Today’s giving should resource

today’s church.

• Deaneries will be where giving and

the cost of ministry are matched.

• Resourcing Ministry

£4.91m

• See note 8
• MMF Call

£4.92m

• MMF Collection

£3.64m

£1.3 million MMF shortfall

MMF: 2008 - 2019

£2,500,000 £3,000,000 £3,500,000 £4,000,000 £4,500,000 £5,000,000 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

MMF Call MMF Paid 2008 MMF + inflation

MMF: Collection rate

96.2% 98.0% 93.4% 88.7% 89.9% 93.1% 92.4% 87.3% 83.5% 79.4% 74.0% 62.3% 57.2%

50.0% 55.0% 60.0% 65.0% 70.0% 75.0% 80.0% 85.0% 90.0% 95.0% 100.0%

Apr 19 v Apr 18

• £104k

2014 - 2017 parish reserves

£4.8 £5.0 £5.2 £5.4 £5.6 £5.8 £6.0 £6.2 £6.4 £6.6 2014 2015 2016 2017

Parishes' unrestricted cash and investments from Returns of Parish Finances (£million)

Stipendiary clergy numbers v ministry costs (per note 8, page 33)

60 65 70 75 80 85 90 95 100 105 110 £3.0 £3.2 £3.4 £3.6 £3.8 £4.0 £4.2 £4.4 £4.6 £4.8 £5.0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Stipendiary clergy numbers Ministry costs (£ million) Ministry costs Stipendiary clergy numbers Linear (Ministry costs)

Ministry numbers overall

200 400 600 800 1000 1200 2015 2016 2017 2018 Stipendiary priests Self-supporting priests ‘House for Duty’ priests Curates Readers Priests with Permission to Officiate Local Worship Leaders Local Pastoral Ministers

Other points

Investment losses

Sale of houses (notes 6 & 9) +£14,641 Gains on Glebe (SOFA)

• £924,636

Revaluation of properties (SOFA)

• £289,302

2018 total losses on investments:-£1,199,297

2017: Gain of £4,665,346

Note 8: Charitable activities

• Charitable activities up

£308k

• Lay scheme pension deficit

£313k

• Transforming Mission

£208k

• Resettlement costs

£38k

• Training & development
• £34k
• Housing costs
• £41k
• Mission fund grants
• £58k
• Stipends & clergy pension
• £117k

Staff numbers (full-time equivalent)

5 10 15 20 25 30 35 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Church House Transforming Mission

Note 26 - Diocesan Funds

£0 £10 £20 £30 £40 £50 £60 £70 £80 £90 £100 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Millions

General Fund Other Designated Pastoral Account Pastoral Account (Ring-fenced) Other Restricted Education Trusts Board Houses Parsonages Stipends Capital

Conclusion

• 2018 had an operating loss, primarily due

to low MMF payments

• We are operating below our reserves policy
• Investments revaluation resulted in losses

as well

• TDBF is now using Total Return to
• Fund past problems – pension deficits
• Invest in growing the church

For where your treasure is, there your heart will be also.

Matthew 6 v 21

Any questions?

Synod is asked:

• To receive the 2018 Annual Report

and Financial Statements

• To appoint haysmacintyre as auditors
• To reappoint Veale Wasbrough

Vizards as solicitors