Welcome to :HONOURARY TREASURER’S REPORT
ST GEORGE’S CHURCH
FINANCIAL YEAR 2023
Before I make comments on the Accounts I would like to thank those other people who play an active and important part in managing the finance of this church. A very loyal, but small group of people meet on a Monday morning to open planned giving envelopes, reconcile loose cash, record monies against income categories and take these monies to the bank. I know that this group works diligently and unseen but make my task that much easier. I would like to thank the Planned Giving team who keep the records on planned giving and deal with all the Inland Revenue returns. Others I would like to mention are Father Adrian whom I pester regularly on financial matters ,William Burgess the Honorary Auditor whose support and help is much appreciated and Brian McNally who patiently checks and countersigns all the cheques I place before him.
Overall Surplus/Deficit
Payments exceed Receipts by £8885 Gross Receipts £95936 and Gross Payments £104821
General fund receipts £88144 and General fund payments £91220
Restricted fund receipts £7791 and Restricted fund payments £13601
Receipts:
Our principal receipts were
Planned Giving £47944
Wedding/funeral fees £14276
Collections £6613
Tax refund £5745
I also think it is worth noting we received £1721 interest on our Deposit fund , £1716 from concert fees ,£1478 fron Fayres and £1349 from coffee donations.
Payments:
Our principal payments were
Parish share £48000
Church Insurance £11686
Services £7940
Gas £6019
Restricted donations £7400
Wedding/funeral fees £7059
The Restricted donations payments of £7400 included £7000 repayment of loan from the Friends.
Our contributions towards charities has continued. Half of the collections raised from weddings, baptisms and funerals is given to a charity nominated by the families. £2165 was donated with the money going to 22 different charities.
Parish Share
In 2023 we achieved our Parish share pledge of £48000.
We have also pledged £48000 for 2024.
Friends of St Georges
The Friends loaned St Georges £7000 in 2022. This was repaid in 2023.
HMRC
In early 2020 HMRC made an overpayment to us of £9321. They have offset this against the tax refund they owe us for 2020 and 2021. They also owe us a refund for 2022. At the end of 2023 this money had not been paid.
Energy Bills
We are on fixed price tariffs so the recent spike in energy prices had limited impact on our bills. However the Gas contract is renewing in 2024 and we will be paying considerably more in the future.
Quinquennial report
The Architect produced the Quinquennial report late 2023. Excluding the West End Window Restoration the report has identified the need for an estimated £41500 (excl VAT ) repairs over the next 5 years.
End of Year Balances and Reserves
At year end the General fund cash balance was £30863 This equates to about 18 weeks normal general expenditure. However the 2024 Budget forecasts a £8800 deficit on the General fund .
At year end the balance on all the Restricted funds was £23364. However on current trends the Church Maintenance fund will be empty by the end of 2024. If this happens then in future years general church maintenance will have to be financed from the General fund.
I would like to express my thanks to everyone for their support throughout the year.
A J PINKETT
Treasurer
March 2024