Financial Summary

 Financial Statement for year ended 31 December 2011 

 Download Consolidated Financial Accounts for 2011.

 

 

From Canon Phillip Blinkhorn, Chairman of the Board of Finance

In his report last year, Canon Alan Cooper wrote “2011 is going to be a very difficult year for us all”. So it proved. We are all aware that these are difficult times economically with inflation more than outpacing incomes for most people, and many of our parishioners coping with unemployment or uncertainty about their jobs. It is a testament to the faith, commitment and generosity in our parishes that Christian giving shows little sign of being affected by the downturn.

It was a difficult year for our diocesan finances. We received £7.04 million in Share from the parishes, an increase of more than £115,000 from 2010. This was welcome news, but it still represents a shortfall of over £1.1 million against the requested amount, and it is significantly less than we received in 2008. We were also adversely affected by reductions in glebe and investment income that underlined our need to collect as much Share as possible.

As a result, our income was not enough to prevent us recording a substantial deficit in unrestricted funds for the second year in succession. We cannot afford further deficits in 2012, and actions have had to be taken to reduce our expenditure. All staff vacancies have been reviewed to ensure that jobs are configured in the most effective way, and expenditure is being carefully controlled. These actions are reflected in our 2012 budget with selective non-replacement of vacant posts in Church House, a reduction in the budget for expenditure on clergy houses, and a decision that clergy stipends will not change in 2012.

The cost of ministry in our diocese rests firmly with the parishes. Your Share payments contribute not only to the direct costs of our clergy, but also to the training of both clergy and lay people for ministry. As we move to new patterns of ministry in our parishes, we must look to spend more money on training and development. This can only be done if we raise the amount of Parish Share receipts in 2012 and future years.

As the new Chairman of the Board of Finance it is my intention to visit as many deaneries and parishes as possible to explain our current position and, of course, to listen to your views on what we should do to improve our financial position and ensure that we can resource the mission of the church in our diocese. 2012 will be another difficult year, but I look forward to working with you all on our great task.

March 2012