APCM th April 2016

APCM 2015 Summary An operating deficit of £11,785  Sale of St Alban’s House generated a super profit of £536,801  Generous legacies and donations of £16,000;  Costs increased, principally maintenance and a new boiler (£19,000);  Our net income has declined by £33,000  Outward giving returned to 10%  £10,000 set aside for our buildings  Overall reserves have increased from £228,787 to £767,235

APCM Plan  Our plan for 2015 anticipated a loss based on: i. A substantial decrease in donor and rental income (£27,500) ii.Additional overhead costs ( parish share, governance and inflation) iii.An improvement in our Crossway printing costs iv.A rental income from a new property However, the additional boiler costs were not forecast but neither were the legacies & donations

KEY PARISH INDICATORS 4 *Costs/day exclude outward giving and property/boiler reserve provisions

APCM 2015 St Alban’s House Gain  To mitigate the ongoing deficit, the PCC had agreed to sell St Alban's House and reinvest the proceeds in 2 properties;  1 property has been purchased for £310,000 and is now income producing;  The PCC are now exploring the purchase of a second property, which if completed, will be income producing by the year-end

APCM Forecast Currently we are forecasting a higher deficit for 2016 Our Parish share will remain at the 2015 rate: it is anticipated that our parish costs will better reflect our congregational numbers in 2017; 2015 was a poor year for Fund-raising and no improvement has been anticipated for 2016; We will need to improve our planned giving, as overall it has decreased by £14,000, with a further decrease expected in 2016 What can we do to improve our financial position?

APCM 2015 CONCLUSION WE have a strong Balance sheet WE are cash strong WE have reserves specifically to cover the Quinquennial building work required BUT WE need to balance our books and generate more income

APCM th April 2016 QUESTIONS?