Church Finances July 2013. Financial Update 2012-2013 financial year summary for general account...
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Transcript of Church Finances July 2013. Financial Update 2012-2013 financial year summary for general account...
Church Finances
July 2013
Financial Update
• 2012-2013 financial year summary for general account
• Building fund income and expenditure to date
• Projection of future income and expenditure
• Increasing income through Gift Aid
2012-13 Financial Year Summary – General Account – Income
2012-13 2011-12 2010-110
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Income for previous 3 years
Offerings Gift Aid Other
INCOME 2012-13 2011-12 2010-11Offerings 43,037 38,282 41,057Gift Aid 6,889 8,505 7,050Other 6 1,440 586Total 49,932 48,230 48,699
2012-13 Financial Year Summary – General Account – Expenditure
EXPENDITURE 2012-13 2011-12 2010-11Ministry costs 30,449 33,224 29,100Establishment costs 7,625 9,512 6,595Church expenses 3,275 4,256 4,432Evangelism & outreach 1,424 1,728 2,894Gifts & Missionary Support 7,056 8,963 7,064Total 49,828 57,683 50,085
2012-13 2011-12 2010-110
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Expenditure pre-vious 3 years
Ministry costsEstablishment costsChurch expensesEvangelism & outreachGifts & Missionary Support
2012-13 Financial Year Summary - Cashflow
2012-13 2011-12 2010-11Income 49,932 48,230 48,699Expenditure 49,828 57,683 50,085Bank balance 3,124 3,020 12,473 2010-11 2011-12 2012-13
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Cashflow previous 3 years
Income ExpenditureBank balance
2012-13 Financial Year Summary
• Income has remained around £50,000 for previous 3 years
• Expenditure well controlled last year
• Bank balance = 3 weeks expenditure (low!)
Building fund – Income and Expenditure
INCOME Up to June 2013Jun - Nov 2012 18,169Feb - Mar 2013 17,350Apr - Jun 2013 3,930Gift Aid 7,920Total 47,369
EXPENDITURE Up to June 2013 July 2013-March 2014Lease 5,833 10,500Fees 3,160 2,000Equip & Mtc 4,729Gifts 4,000 3,105Total 17,722 15,605
Building fund – cashflow
Up to June 2013 July 2013-March 2014Income 47,369 5,000Expenditure 17,722 15,605Balance 29,647 19,042
Jun-
13
Jul-1
3
Aug-1
3
Sep-1
3
Oct-1
3
Nov
-13
Dec-1
3
Jan-
14
Feb-1
4
Mar
-14
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Cashflow
Income ExpenditureBalance
Projection of future income and expenditureAssumptions:
• Remaining building fund balance to be used for renovation work
• From April 2014 all ongoing unit 1a costs to be funded from general account
• From April 2013 gift aid can be claimed immediately
• From April 2014 we will not lease the current kids church space
Projection of future income and expenditure
2012-13 2013-14 2014-15-10000
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Expenditure Bank balance no change Bank balance up 10%Bank balance up 20% Income no change Income up 10%Income up 20%
Projection of future income and expenditure
• If income increases by at least 10% in 2013-14 and in 2014-15 then the move to Unit 1a is sustainable
• Income trend for 2013-14 year-to-date is relatively flat
Increasing income through Gift Aid
• 2012-13 claim was £16,037
• From April 2013 loose cash offerings of £20 and under can be claimed
• Cash offerings over £20 and cheques – please use a Gift Aid envelope
• Once only Gift Aid form can be used for cheques and standing orders
THE END!!!
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