2020 Finance Update

2020 Finance Update for the APCM

The Account :

The account for this year, up to the end of September, shows a surplus of nearly £12,100.

However, there were several exceptional items. The largest were a legacy of £30,000 and costs of redecorating the vicarage of a little more than £4,500.

Taking all of the items into account, results in the balance between normal income and normal expenditure being a deficit of a little more than £11,700.

 

Explanation of the Deficit:

Normal expenditure during the year so far has not been unusual. The deficit has been caused by income reduced by  ‘Lockdown’ and reductions in planned giving from several donors.

Lockdown has meant very few collections this year, no weddings, no Fete, but more funerals. Compared to 2019, income from these activities has been down nearly £7,400.

Since the beginning of 2019 we have lost 7 people who gave by standing order. The resulting loss has been  nearly £3,700 to the end of September for this year.

 

To the End of the Year :

 

For the last quarter of the year, the deficit will increase. Lockdown collections may improve with the church services, but not by much with the social distancing restrictions. The Flower Festival realised about a half that of last year. There is no Winter Fair - last year it made about £1,600. The Christmas services are likely to realise less than usual.

 

PGS :

We need more regular income. We have joined the C of E’s Parish Giving Scheme (PGS). So far, 11 people have joined (6 transferring from standing orders and 5 new donors). The monthly income has increased by £275. There are still 22 people paying by standing order who have not yet joined the scheme.

 

                                                                                                                                                Peter Hyde, PCC Book-keeper