CHURCH COMMISSIONERS’ FUNDS AND INTER-GENERATIONAL EQUITY (GS 1981) ‘That this Synod, welcoming GS 1981; and noting that the funds of the Church Commissioners.

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Presentation transcript:

CHURCH COMMISSIONERS’ FUNDS AND INTER-GENERATIONAL EQUITY (GS 1981) ‘That this Synod, welcoming GS 1981; and noting that the funds of the Church Commissioners are a permanent endowment, held in perpetuity to support the Church of England as it seeks to proclaim the faith afresh in each generation, support the Commissioners, in consultation with the House of Bishops and the Archbishops’ Council, giving consideration to the basis on which they might, for a limited period, release additional funds in order to support changes that will equip the Church of England more effectively for sustainable mission and ministry over the coming generations.’

Church Commissioners’ Role Investment portfolio of over £6 billion £2 billion over time for Clergy pensions £3.2 billion present value of the endowment 2013 CC spend was £208 million - £121m on pensions: £97m on other costs (47% Dioceses, 33% Bishops, 11% Cathedrals) Scope for one-off pump priming to support the Change Programme – Resourcing the Future

The solution to bring about change – The Mechanics - Church Commissioners Funds Phasing in over up to 10 years beginning a new formula to replace the Darlow formula Funding to Dioceses for investment in mission and growth in line with their Strategic Growth Plans - Priority to poorer communities An increase in the number of ordinands – up to 50% from 2020 Reforms must be owned by the Whole Church