Revd Richard Williams BSc FCA Finance Director Presentation to Diocesan Synod on 13 Oct 2018 WHERE OUR MONEY CAME FROM WHERE THE MONEY IS SPENT SUPPORT COSTS FOR A PARISH 2019 Values Cost of a Fulltime Incumbent 410K ID: 791493
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Slide1
BRIEFING ON
DiocesAN
finances
Revd. Richard Williams BSc FCAFinance Director
Presentation to
Diocesan Synod on13 Oct 2018
Slide2WHERE OUR MONEY CAME FROM
Slide3WHERE THE MONEY IS SPENT
Slide4Slide5Slide6Slide7Slide8SUPPORT COSTS FOR A PARISH (2019 Values) Cost of a Full-time Incumbent £41.0KDiocesan Parish Support Costs per Benefice £9.6K
£50.6K
Average contribution required to cover costs ofFuture Ministry, Wider Diocesan Mission and National
CofE
£13.3K
Net average contribution required to support parishes unable
to cover fully the c
ost
of a Full-time Incumbent and Diocesan
Parish Support Costs
£7.1K
Average contribution required from parishes
£71.0k
PARISH OFFERSParish Offers have remained flat over the last five years
Source: RSDBF Accounts
£M
Slide10CONTRIBUTION RATE Rochester has the 3rd lowest contribution rate as a % of income
; out of 40 Dioceses
Source: Church House 2018 Stats
38%
Slide11Contribution RateFor More Deprived Parishes
Indices of Deprivation
CONTRIBUTION RATE FOR MORE DEPRIVED PARISHES
Most Parishes in deprived areas have contribution rates far in excess of 50%
Not only are we running a deficit, but many Parishes in deprived areas are significantly under-resourced
Slide12GIVING COMPARED
Rochester is less deprived
Giving as % of income in Rochester is
3.2% vs 3.6%
nationally and 5% guideline
Slide13Income and generosity
Average 3.6% income
The wealthy do give more.
BUT as a proportion of income they give less.
Slide14CHALLENGES WE FACE!Understanding and operation of the Parish Pledge systemLocal support for the mission of the churchIncreasing awareness of the wider context
Diocesan support structures
Supporting Parishes in Mission Planning and Stewardship
Slide15FINANCIAL MILESTONESCalled Together Annual Risk Assessment by Bishop’s Council
Delegated Authority Policy
Financial Strategy
Underpinning Called Together
Rolling Five-year Projections
Aiming for balanced budget by 2021
Annual Operating and Capital Budget with Cash-flow – approved Synod – Autumn
Annual Audit and Statutory Accounts – Spring
Slide16PROPOSAL FOR INDICATIVE OFFERSIndicative Offers for each Deanery and Parish
Formula: C
ost of ministry provision (£41K for a full-time incumbent)
plus
£9.6K per benefice for Diocesan Parish Support Costs
plus
50% of Residual
N
et
I
ncome
System of appropriate follow up and support
Establishing a ‘Common Fund’
Slide17Indicative Offer calculation diagram
Slide18CONSULTATION TIMETABLEConsultation Process
23 June 18 Diocesan Synod
5 Sept 18 Deanery/Parish Consultation
W/c 10 Sept 18 Deanery/Parish Indicative Offers Published
2 Nov
18
Close of consultation
2 Mar 2019
Diocesan Synod for Approval
Questions?
Slide20BALANCE SHEET COMPOSITION