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2021 Budget Outturn Report and Trustees’ Report

The PCC met earlier this month to review the Trustees’ Report which includes the Financial Statements for the year ended 31 December 2021. Once they are approved then they can be signed off by Gill Lake in completion of her examination of the accounts.

Lionel opened the discussion on the 2021 Accounts by hoping that the minutes of the Finance Committee and the Financial Report provided enough information for the PCC to understand the general picture contained in the Financial Statements.

He then talked to the Budget Outturn Report which was in the format of the usual budget monitoring report and how this linked to the formal accounts. The end of year position, when compared with the Budget Monitoring report to the PCC in November, was slightly complicated because of the capitalisation of some large value items. However, the final position showed a net surplus of just £50.

Lionel commented that there were a number of variations from the November report but a number of them equally offset others since they were related.

He said that he carried forward into 2022 £3,300 of the Restricted Business grants since the effect of Covid was still causing cancellation of bookings of our halls and rooms. However, he was pleased to report that the Lettings income, although less than the budget, was up on the figure in 2020.

Income from the Hall Trust for projects was higher than the figure quoted in November due to the funding of the new lighting control system in the church.

Lionel also mentioned that we had spent over £68,000 on the items which were then capitalised and these were listed on page 18 together with a table showing the funding of each. These related to the new AV screens, a new control system for the lighting in church, and the new lighting in the main hall.

He pointed out that the final cost of the AV screens was higher than that previously agreed and asked for the PCC to formally approve the higher total cost of £47,713, which they then proceeded to do.

He responded to a couple of queries with regard to fund raising.

Then Lucy took over to explain about the Trustees’ report which was different to previous layouts but was a requirement for the Charity Commission in the format now presented.

Lionel then explained that the Financial Statements had been compiled from the data in the Budget Monitoring report but they were in the required format.

The PCC was then asked if there were any queries with regard to the Trustees’ report, both the narrative and the Financial Statements. They clearly had had enough, so agreed to receive the minutes of the Finance Committee and the Outturn Budget minoring report, and then voted to adopt the Trustees’ Report for the 2021 Accounts.

Thanks were expressed by Lucy and the PCC to Lionel for his efforts with the accounts, and grateful thanks were offered to Gill Lake for her diligent help in ensuring the accounts were in order.

Lucy then gave Lionel a present as a thank you for the work involved in the foregoing accounts and through the year. He accepted this kind gesture and was nearly speechless!

Hall Trust

For light relief the PCC then turned to the last item on the agenda which was a discussion about the Hall Trust.

Lucy explained that she has been slowly getting her head round how this fantastic fund fitted within the workings of St Andrew’s Church. Also, what effects it had on the life here and on the income from planned giving and, looking ahead, how these fit within our Vision.

She then put up on the screen a pie chart which showed an analysis of the funding of the total expenditure for 2019. This provided food for thought because all of the Hall Trust income is from investments and a further piece of pie was the contribution from the PCC’s own investments. This meant we were significantly dependant of the ability to receive adequate income from such investments. (NB the position for 2022 would be similar.)

Another piece of research by Lucy showed that in our Diocese a ‘similar’ church to St Andrew’s received planned giving equivalent to over £16 per week per person on the electoral roll. This figure is much higher than the equivalent figure of about £10 for St Andrew’s. The PCC will discuss further the subject of how we can encourage an increase in planned giving which would enlarge this section of the pie.

We discussed at length the rules controlling the use of the Hall Trust funds and how they relate to the time when the Trust was first set up, ie rather than a current interpretation.

We spent nearly an hour on the subject but, to be kind, I have only recorded a few bite-size chunks for you to ruminate on.

We then said our goodbyes at about 9.10pm.

Lionel Mayoh, Honorary Treasurer

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