St Andrew’s Parish Church, Coatbridge

Commentary on 2005 Accounts and 2006 Budget

This document should be read in conjunction with the Financial Statements for St Andrew’s Parish Church, Coatbridge for the year to 31 December 2005.

General Fund - Income

Freewill Offering	2004 Actual	2005 Budget	2005 Actual	2006 Budget
	£ 60,953	£ 61,250	£ 61, 177	£ 66,000
In 2005 we saw a small increase in freewill offering giving, our main source of income. In 2006 we require a substantial increase of nearly 8% if we are to balance our budget.

Tax Recovered	2004 Actual	2005 Budget	2005 Actual	2006 Budget
	£ 9,357	£ 9,500	£ 9,005	£ 9,000
In 2005 our tax reclaim reduced by nearly 4%. This is a key source of income and can be increased by more members signing Gift Aid declarations.

Ordinary Offerings	2004 Actual	2005 Budget	2005 Actual	2006 Budget
	£ 2,854	£ 3,000	£ 3,431	£ 4,000
The ordinary offerings received through the open plate increased in 2005 by 20%. We hope to see a further substantial increase in 2006.

Collection Boxes	2004 Actual	2005 Budget	2005 Actual	2006 Budget
	£ 1,014	£ 1,000	£ 799	£ 1,000
In 2005 we saw a substantial reduction in the income from collection boxes of more than 20%. This is an important source of income for us and we hope to do better in 2006.

Sunday Teas	2004 Actual	2005 Budget	2005 Actual	2006 Budget
	£ 900	£ 800	£ 900	£ 900
Once again in 2005 we received a donation of £900 from the Sunday Teas, a great result.

Fund Raising	2004 Actual	2005 Budget	2005 Actual	2006 Budget
	£ 0	£ 2,000	£ 1,804	£ 4,000
In 2005 we had an auction to raise funds for the General Fund. In addition, we raised over £3,000 for the Fabric Fund through the Christmas Fayre. In 2006 we need to see a substantial increase in fund raising for the General Fund if we are to cover our costs.

Organisations	2004 Actual	2005 Budget	2005 Actual	2006 Budget
	£ 2,250	£ 2,000	£ 1,500	£ 3,000
Many of our organisations once again made donations in 2005 and we hope that all organisations will contribute in 2006. We have increased the budget for 2006 to £ 3,000 which is challenging but we must increase income in all areas if we are to meet our costs.

General Fund - Expenditure

National Ministry, Mission, Wider Work	2004 Actual	2005 Budget	2005 Actual	2006 Budget
	£		£ 52,787	£ 63,337
The basis on which we make our contribution to the Church of Scotland has changed for 2006. We no longer pay separate amounts for stipend and for our contribution to the wider mission of the Church. More significantly our contribution has increased by more than £ 10,000 leading to the substantial increase in income we require in 2006 to cover our costs.

Local Staffing Costs	2004 Actual	2005 Budget	2005 Actual	2006 Budget
			£ 10,444	£ 9,720
Our regular staffing costs were as expected in 2005 but we had several unusual items and effects related to the vacancy which will not be repeated in 2006. The budget for 2006 anticipates inflationary increases.

Buildings Costs	2004 Actual	2005 Budget	2005 Actual	2006 Budget
			£ 12,954	£ 14,500
The notable item of expenditure was the heating and lighting cost which was above budget due to a substantial increase in gas costs. We must reduce our energy costs in 2006.

Other Local Costs	2004 Actual	2005 Budget	2005 Actual	2006 Budget
			£ 2,728	£ 2,175
The only item of note is the cost of the telephone which we hope to reduce in 2006.

General Fund – Consolidated Position

Surplus	2004 Actual	2005 Budget	2005 Actual	2006 Budget
	£ 1,192	£ 67	£ 1,933	£ 18
In 2005 we had a surplus of £ 1,933. We are proposing a budget which will generate a small surplus but which will require substantial increases in income if it is to be delivered.

Fabric Fund

Opening balance	Income	Expenditure	Closing Balance
£ 95,704	£ 15,774	£ 49,165	£ 62,313
In 2006 we had substantial expenditure from the Fabric Fund due to work within the Church, on the doors and the staircases at the front of the Church and due to upgrading required at the Manse.

Hugh McKee - Finance Convener - 7 March 2006