key aspects of 2012 annual report and consolidated accounts and outlook for 2013 23 april 2013...
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![Page 1: Key aspects of 2012 Annual Report and Consolidated Accounts and Outlook for 2013 23 April 2013 Annual Parochial Council Meeting](https://reader036.vdocuments.net/reader036/viewer/2022083004/56649e2b5503460f94b19882/html5/thumbnails/1.jpg)
Key aspects of 2012 Annual Report and
Consolidated Accounts and Outlook for 201323 April 2013
Annual Parochial Council Meeting
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Key areas of church finances
Christ Church Spitalfields
Consolidated Accounts
PCC
(Ministry & Mission)
CCSV Group(Venue Business)
Church Property
Hanbury Hall(Community Hall)
All Saints House(35 Buxton Street)
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INCOME 2012 – sources of income
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NOTE: ‘Restricted income’ includes Property (Hanbury Hall & All Saints House)
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GENERAL INCOME: £361,606 (↓8%)- Voluntary giving: £160,705 (↓13% on 2011)- Venue hire: £194,793 (↓5%)- Public access: £ 6,108 (↑ 23%)
OTHER ‘RESTRICTED’ INCOME: £135,245 (↓19%)- Property: £58,573 (↑7% on 2011)- Restricted funds: £76,672 (↓45%)Includes•Children’s worker (£26k)•Crypt development (£25k)•Church gardens (£10k)
CONSOLIDATED INCOME: £496,851 (↓15%)
INCOME 2012 - overview
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INCOME 2012 – sources and comparison 2009-2012
Restricted funds in 2012 include:•£26k Children’s worker (Gift Day)•£35k Crypt & Gardens Grants
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£
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EXPENDITURE 2012 - overview
GENERAL COSTS: £382,394PCC: £137,774Operations: £244,620
Areas of expenditure:Mission & ministry: £ 66,738 (↓21% on 2011)Common fund: £ 56,700 (↑ 5%)Away giving: £ 14,336 (↓6%) Public access: £ 12,111 (↑1%)Church building: £103,288 (-)Venue/operations: £129,221 (↓1%)
OTHER ‘RESTRICTED’ EXPENDITUREProperty: £24,109 (↓ 28% on 2011)Restricted funds: £63,913 (↑ 192%)Includes:•Crypt redevelopment (£46k)•Church gardens (£3k)
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EXPENDITURE 2012 – breakdown and development
2012 TOTAL CONSOLIDATED SPEND: £470,416 (↑ 3% on 2011)
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Expenditure 2012 – comparison 2009 to 2012
Includes £49k crypt development spend
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How Does Our Income Match Our Expenditure?
2012 RESULTS
General funds at end 2012: deficit of - £11,934 Represented by: •PCC: -£10,924•CCSV: -£1,010
Restricted funds at end of 2012: surplus of £38,369 Represented by: •Property: £25,610•Restricted funds: £12,759
INCREASE in Group funds overall: £26,435
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CASH position as at 31/12/12
General funds: £105,550
Restricted funds: £199,290•Property: (£34k)•Funds: (£165k)
TOTAL CASH on 31/12/12: £304,840**
NET CASH POSITION 2012
* Minimum reserves equal to approx. 3 months operating costs**Includes debtors, net of any liabilities falling due within 12 months
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Minimum reserve*
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2013 OUTLOOK & ACTIONS• Key target is again to achieve a balanced budget, i.e. expenditure no
higher than income
• Lift voluntary giving:─ preaching and teaching on good stewardship
• Lift venue hire revenue─ work with a catering partner to increase Christmas party sales─ improve sales resources to attract & convert more sales
• Reduce costs:─ reduction in Public Programme expenditure & staff costs─ reduction in Worship Leader hours─ reduction in casual verger hours
• Improve productivity: install Sage accounting software
• Projects:- Crypt redevelopment: submit planning application; further fundraising- CCSV: exploring new business model (outsourcing)- Hanbury Hall: redevelopment to begin; commence business planning
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