St Andrew’s Parish Church, Coatbridge

Commentary on 2006 Accounts and 2007 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 2006.

General Fund - Income

Freewill Offering	2005 Actual	2006 Budget	2006 Actual	2007 Budget
	£ 61,177	£ 66,000	£ 69,083	£ 69,000
In 2006 we saw a substantial increase in freewill offering giving, our main source of income. The increase arose principally in the last few months of 2006 and was at least partly due to a strong response to our request for an additional £10 per member. It is important that we maintain these levels in 2007.

Tax Recovered	2005 Actual	2006 Budget	2006 Actual	2007 Budget
	£ 9,005	£ 9,000	£ 9,886	£ 10,000
In 2006 our tax reclaim increased by nearly 10% due to the timing of givings, increases in givings and a few new Gift Aid declarations being signed by members. This is a key source of income and can be increased by more members signing Gift Aid declarations.

Ordinary Offerings	2005 Actual	2006 Budget	2006 Actual	2007 Budget
	£ 3,431	£ 4,000	£ 3,747	£ 4,000
The ordinary offerings received through the open plate increased in 2006 by nearly 10%. We hope to see a further increase in 2007.

Collection Boxes	2005 Actual	2006 Budget	2006 Actual	2007 Budget
	£ 799	£ 1,000	£ 877	£ 750
In 2006 we saw an increase in the income from collection boxes of nearly 10%. This is an important source of income for us and we hope to do better in 2007 although the budget has been set at a prudent level.

Sunday Teas	2005 Actual	2006 Budget	2006 Actual	2007 Budget
	£ 900	£ 900	£ 900	£ 900
Once again in 2006 we received a donation of £900 from the Sunday Teas, a great result.

Fund Raising	2005 Actual	2006 Budget	2006 Actual	2007 Budget
	£ 1,804	£ 4,000	£ 1,837	£ 2,000
In 2006 we had an auction to raise funds for the General Fund. In addition, we raised over £2,800 for the Fabric Fund through the Christmas Fayre. In 2007 we have plans for many more fundraising activities.

Organisations	2005 Actual	2006 Budget	2006 Actual	2007 Budget
	£ 1,500	£ 3,000	£ 1,784	£ 2,000
Many of our organisations once again made donations in 2006 and we hope that all organisations will contribute in 2007.

General Fund - Expenditure

National Ministry, Mission, Wider Work	2005 Actual	2006 Budget	2006 Actual	2007 Budget
	£ 52,787	£ 63,337	£ 63,307	£ 60,000
Our contributions to Central Funds represent our major expense. This amount goes to pay the stipend of our Minister and to meet the wider costs of the Church of Scotland. The budget for 2007 is lower than the 2006 expenditure due to a reduction in our contribution to the wider costs.

Local Staffing Costs	2005 Actual	2006 Budget	2006 Actual	2007 Budget
	£ 10,444	£ 9,720	£ 9,449	£ 9,912
Our regular staffing costs were much as expected in 2006. The budget for 2007 anticipates inflationary increases.

Buildings Costs	2005 Actual	2006 Budget	2006 Actual	2007 Budget
	£ 12,954	£ 14,500	£ 13,733	£ 16,800
The notable item of expenditure was the heating and lighting cost which was above budget due to a substantial increase in gas costs partly as a result of difficulties with the heating system in 2006. We must reduce our energy costs in 2007.

Other Local Costs	2005 Actual	2006 Budget	2006 Actual	2007 Budget
	£ 2,728	£ 2,175	£ 4,204	£ 2,875
The only item of note is the cost of organ and piano maintenance which was unusually high in 2006 as a result of the work required on the organ following the replastering work in the organ loft.

General Fund – Consolidated Position

Surplus	2005 Actual	2006 Budget	2006 Actual	2007 Budget
	£ 1,933	£ 18	£ 489	£ 13
We are proposing a budget which will generate a small surplus but which will require us to maintain the substantial increases in givings which we say in late 2006 if it is to be delivered.

Fabric Fund

Opening balance	Income	Expenditure	Closing Balance
£ 62,313	£ 32,608	£ 42,447	£ 53,474
In 2007 we had substantial expenditure on the railings and gate posts but these costs were met by a grant from Land Trust. We also spent approximately £10,000 from the Fabric Fund on the replastering work in the organ loft.

Church Hymnary 4^th Edition Fund

Opening balance	Income	Expenditure	Closing Balance
£ 0	£ 877	£ 219	£ 658
We have set up this fund to help us manage the transition to the use of CH4. In 2006 the income arose from a coffee morning and the expenditure was the purchase of new CH4 hymnaries for the choir.

Hugh McKee - Finance Convener - 23 February 2007