1. Treasurers’ Day 25 th September 2015 2015 DBF BUDGET

2. Background  Period 2006-2012 – 7 years of deficits  Total reserves used £5m  Unsustainable  Period 2013-2015 – Breakeven budgets  Actual results 2013 and 2014 close to breakeven  2015 forecast breakeven or small surplus.

3. DBF OPERATING DEFICIT HISTORY

4. Budget Timetable  Jan- Apr – Parish survey of membership/category  May-Jun – Departmental budget process  July – Scrutiny of departmental budgets by Finance Group  Aug - Parish survey results input into share model  Sep - Approval of budget by Bishop’s council  Oct – Budget adopted by Diocesan Synod  Nov – Share requests sent out to parishes

5. 2015 Budget - Income versus Expenditure £11.9m

6. How much does a stipendiary priest cost in 2015 ? £ Notes Stipend 25,178 Bath & Wells average stipend Pension9,186 39.9% contribution rate on prior year NMS Employer’s National Insurance contribution 2,022 Total direct costs36,385 Housing repairs and maintenance, insurance, council tax and water rates 6,632} Total expenditure items noted divided by priest numbers. Removal costs and grants688} Training and support – Ordinands2,338} Training – in service (CMD)270} Retirement housing (CHARM)533} Total housing & Training10,460 TOTAL£46,846

7. Parishes Adult Survey membership 2015  Membership is declining at a rate of just under 2% a year  We need to reverse this decline  Latest declared membership c 22,000

8. Parishes Socio Economic Categories  Not quite a bell curve – skewed to right  25% of parishes declared A B C compared with 39% E F G

9. WHAT DOES IT MEAN FOR PARISHES? AVERAGE PARISH SHARE INCREASE 2015 Common Fund increase1.5% Average decrease in church membership1.7% Net movement in socio-economic categories0.7% Increase per member for a parish with NO annual change in membership or category 3.9%  Common Fund increase approved by Diocesan Synod  Membership and categories supplied by parishes  Each parish’s increase or decrease will be individual based on their annual changes in membership and category

10. Parish Share per member in 2015 Parish Socio- Average Share per Member per week Economic Category 2015 £ Increase (3.9%) £ 2014 £ A10.410.3910.02 B9.890.379.52 C9.360.349.02 D (Mid)8.840.328.52 E8.320.318.01 F7.800.297.51 G7.280.277.01  D (Mid) £8.84 per week equates to £460 a year  Average weekly increase requested 32p

11. FINANCE TASKS  Collecting Parish Share – 99% aim for 2015  Meeting the break-even operating position  Managing and growing the asset base  Keeping the cash flowing in and out, evenly  Maintaining the property portfolio (£55m)  Managing the investments (£35m)  Paying 200 stipendiary clergy / 50 + employees