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Key aspects of 2012 Annual Report and Consolidated Accounts and Outlook for 2013

Annual Parochial Council Meeting. 23 April 2013. Key aspects of 2012 Annual Report and Consolidated Accounts and Outlook for 2013. Key areas of church finances. Christ Church Spitalfields Consolidated Accounts. PCC (Ministry & Mission). CCSV Group (Venue Business). Church. Property.

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Key aspects of 2012 Annual Report and Consolidated Accounts and Outlook for 2013

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  1. Annual Parochial Council Meeting 23 April 2013 Key aspects of 2012 Annual Report and Consolidated Accounts and Outlook for 2013

  2. 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)

  3. INCOME 2012 – sources of income NOTE: ‘Restricted income’ includes Property (Hanbury Hall & All Saints House)

  4. INCOME 2012 - overview • 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%)

  5. INCOME 2012 – sources and comparison 2009-2012 • Restricted funds in 2012 include: • £26k Children’s worker (Gift Day) • £35k Crypt & Gardens Grants £

  6. EXPENDITURE 2012 - overview • GENERAL COSTS: £382,394 • PCC: £137,774 • Operations: £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’ EXPENDITURE • Property: £24,109 (↓ 28% on 2011) • Restricted funds: £63,913 (↑ 192%) • Includes: • Crypt redevelopment (£46k) • Church gardens (£3k)

  7. EXPENDITURE 2012 – breakdown and development 2012 TOTAL CONSOLIDATED SPEND: £470,416(↑ 3% on 2011)

  8. Expenditure 2012 – comparison 2009 to 2012 Includes £49k crypt development spend

  9. 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

  10. NET CASH POSITION 2012 • 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** Minimum reserve* * Minimum reserves equal to approx. 3 months operating costs **Includes debtors, net of any liabilities falling due within 12 months

  11. 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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