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ITEM

DESCRIPTION

 

    VALUE

 

A

TOTAL PARISH FUNDS AT 31ST DECEMBER 2020

£276,873

 

 

 

B

AVERAGE ANNUAL LOSS OVER THE LAST 5 YEARS

£20,000

 

 

 

C

FORECAST LOSS FOR THE 2021 YEAR

£25,000

 

 

 

D

NUMBER OF YEARS FUNDING LEFT COULD BE

10 YEARS

 

 

 

E

OFFERTORIES IN THE LAST 7 YEARS ARE DOWN 35%. PER ANNUM THAT IS

£20,000

 

 

 

F

INCOME- WEEKLY OFFERTORIES IN 2013

£1,100

 

 

 

G

INCOME- WEEKLY OFFERTORIES IN 2020

£700

 

 

 

H

EXPENSE- PARISH LEVIES PER ANNUM £20,000 AND PER WEEK

£400

 

 

 

I

EXPENSE- WAGES (after furlough ends) PER ANNUM £30,000 PER WEEK

£560

 

 

 

 

Following a Quinquennial survey in 2018 in the next 2 to 3 years we will need to find about £80,000 to cover the work required on the two churches and the presbytery. This estimate does not include the Parish Centre which is not profit making. It runs at a loss.

On average 60% of those using the Centre are currently not required to contribute. 

 

 

St Ambrose Parish Finance Committee 20th July 2021


The above financial summary is presented to a Parish Meeting on July 20th 2021 and shows clearly the parlous state of our finances. In the coming months we shall be looking urgently at ways to alleviate the shortfall that so clearly exists.  We need especially to find ways of generating additional funds.


After the above was presented, there was an engaging and positive contribution from many of those present and below are some bullet and action points which form the basis of trying to further minimise the pattern of losses.

 

1. In an effort to increase giving it was suggested that there should be a Gift aid push. Action for Tim Yates to consider.

 

2. Any additional giving to normal offertories or donations should be directed towards a specific project. We are likely to undergo a further quinquennial report and any work arising from this could be funded by specific donations. As stated above the Parish could be incurring costs of circa £80000 to cover such a report and related work.

Currently the following streams of income will attract a Diocese levy charge of 26%

 

Offertories – Gift Aid

Offertories – non-Gift Aid

Other Collections for parish

Donations Gift Aid

Donations – non-Gift Aid

Gift Aid/GASDS tax claims received

Chaplaincy Receipts

Investment Property Rental Receipts

Unit Scheme Income

Interest received

Sundry receipts

DfES refunds

 

3. Look for ways of encouraging Parishioners back to Church. Several avenues are already being explored. Last week’s newsletter refers. CD also reported that there was a new initiative with Churches Together in Kidderminster to leaflet drop the residents of the new housing estate being built by St Mary’s. This would also give exposure to St Ambrose

 

4. Contactless living and giving is on the increase. Cash transactions are on the decline and most thought this trend will continue. Both for masses and other occasional office services would a contactless system encourage casual visitors to Wedding and Baptisms to donate? This option will be considered by the Finance Committee in conjunction with the Diocese.

 

5. Grant application for the Churches being explored with Steve Bayliss from the Diocese.

 

6. The Parish Centre now has two self-contained areas for hire and all agreed there is potential to grow income streams from this asset. Advertising through social media, marketing campaign and notices outside the hall could generate interest and bookings. A small group needs to be formed to drive this initiative and Father will speak to Patrick Hunt. Those present also thought that a Wi-Fi connection in the Centre would also encourage hirers and the Finance Committee to consider at the next meeting. We need to increase the percentage of paying hirers of the Centre and the actions above should help this process.

 

 

 

 

 

 

 

 

7. There will need to be a further review of costs and the Finance Committee will try and address the process in the coming months.

 

 

 

 

8. The Bowling Green Chair has offered his members services where applicable if it defrays costs for the Parish. Currently their membership is 35 and the parish website will be updated to publicise their existence. It may be that from this generous gesture a maintenance group can be formed to help with minor but emergency jobs. JM to liaise with AC.

 

9. The majority of those present felt and agreed that this had been a very useful exercise and it was proposed that there should be an annual Parish Financial meeting probably just after Easter each year.

 

An encouraged Father Lamb closed the meeting with grateful thanks and prayer.

 

The meeting closed a 8.15.


 
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