1 / 9

Budget 2013 Synod 14th June 2012

Budget 2013 Synod 14th June 2012. Context. Key tasks: Repair finances Increase reserves Improve controls Improve planning. Key messages – 2012 Forecast*. Forecasted deficit in 2012 of £69k (before asset gains) Net Parish Share receipts of £7.295m on current trend

whitney
Download Presentation

Budget 2013 Synod 14th June 2012

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Budget 2013Synod14th June 2012

  2. Context Key tasks: • Repair finances • Increase reserves • Improve controls • Improve planning

  3. Key messages – 2012 Forecast* • Forecasted deficit in 2012 of £69k (before asset gains) • Net Parish Share receipts of £7.295m on current trend • Parochial clergy costs within budget • Volatile stock markets: unrealised gains of £373k gain so far this year to counter losses in 2011 • Significant cash outflow up to November due asset purchases Note *: As at 30 April 2012

  4. 2012 Parish Share – May YTD • Received £ 2.443m, £70k more than the same point last year (£2.373m) • 29.0% of the request, 28.1% at this time last year. • Forecast for the year is £7.275m after discounts • £275,000 more the last year and in line with our budget • 11 parishes have paid nothing (£100k if had paid to time)

  5. Key assumptions – 2013 budget • Parish Share increase of £126k ( 1.5% - RPI is 3.5%) • Stipendiary posts in line with projections for 2013 to 2015 • 2 % increase in stipends, 1% in 2014 & 2015 • 1% increase in lay payroll increase

  6. Key assumptions

  7. Key messages – 2013 budget • Achieve a small surplus on unrestricted funds budget for 2013 of £43,000 • Parish Share request of £8.552m ( 2012 £8.426m, an increase of 1.5%) • Indicative budgets for 2014 and 2015 show small surpluses before gains on sale of assets • Budget for gains on asset sales each year

  8. Budget 2013 - 2015

  9. Challenges and risks • Collection of Parish Share • Asset management – property & investments • Glebe – tough market for commercial lettings could impact on income • Assigned fees – changes in rates & method of collection in 2013 • Clergy pensions – actuarial review at the end of this year: additional funding requirements likely

More Related