PROPERTY & FINANCE COMMITTEE REPORT TO SYNOD 2014.

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Presentation transcript:

PROPERTY & FINANCE COMMITTEE REPORT TO SYNOD 2014

PROPERTY & FINANCE COMMITTEE MANDATE 1.Oversight and stewardship of the financial affairs of the Diocese 2. Considers and approves all matters related to property and capital expenditures, purchases and sales 3. Conducts financial planning, including the preparation of budgets & financial forecasts 4. Conducts regular reviews of the financial standing of the Diocese in relation to the current budget 5. Establishes, reviews and recommends changes to financial policy e.g. investments, property, insurance, Parish Fair Share, etc. 6. Oversight of investments including the administration of the Consolidated Trust Fund (CTF) 7. Oversight of benefits policies and administration

PROPERTY & FINANCE COMMITTEE ACTIVITIES DURING THE YEAR APPROVAL OF: 12 SUPPORT GRANT APPLICATIONS 7 PARISH FAIR SHARE APPEALS 4 CONSOLIDATED TRUST FUND (CTF) WITHDRAWALS 5 CAPITAL PROJECTS 3 EXTENSION FUND LOANS 2 LONG-TERM LEASES 1 PURCHASE OF LAND CTF DIVIDEND RATE STIPENDIARY SCALES & ALLOWANCES CHANGES TO CBR’S AUDITED FINANCIAL STATEMENTS INSURANCE RATES

SYNOD FINANCES 2013 OVERVIEW

OPERATING FUND RESULTS FOR THE 2013 FISCAL YEAR BUDGETED for a breakeven situation

OPERATING FUND – SOURCES OF REVENUE

REVENUE - COMMUNITY MINISTRIES

COMMUNITY MINISTRIES – CITY OF OTTAWA FUNDING

SYNOD CIRCULAR PAGE 114 – ADDENDUM

OPERATING FUND – EXPENDITURES (TOP 10)

FUND BALANCES AT YEAR-END

CHURCH EXTENSION FUND  NUMBER OF LOANS 13 (1 new loans in 2013)   NUMBER OF PARISHES 11  AVERAGE LOAN $115,000  $ VALUE OF LOANS $1.5 million  CURRENT LENDING RATE: 4.0%

CONSOLIDATED TRUST FUND SUMMARY OF AMOUNTS HELD IN TRUST $million PARISH 12.9 SYNOD 10.2 RECTORY 5.0 CLERGY RETIREMENT FUND 1.4 CEMETERY 0.9 THIRD PARTIES 0.5 TOTAL $30.9

CONSOLIDATED TRUST FUND PERFORMANCE SUMMARY

PARISH FACTS AND FIGURES

NUMBERS – PARISHES & CLERGY

NUMBERS – REPORTED BY PARISHES

RECEIPTED DONATIONS

REGULAR GIVINGS PER INDIVIDUAL

PARISH INCOME – ($ THOUSANDS)

PARISH SPENDING – ($ THOUSANDS)

QUESTIONS?