1. 1 FINANCIAL CONSULTATIONS 2015 Welcome

2. Quick Updates Pension Auto enrolment New Charity SORP New Parish Share leaflet 2

3. 2016 Budget Overview Budget 2016 £’000 Forecast 2015 £’000 Budget 2015 £’000 Direct ministry costs15,25415,239 Church of the Future3,8373,695 Support costs – National Church 1,021991 Support costs – Diocesan 3,8573,5783,722 Glebe and Fees income(4,434)(4,324)(4,187) Parish Share(19,610)(19,466) Budget surplus to rebuild reserves 752876 3

4. 2016 Budget Assumptions 4

5. Direct Ministry costs Budget 2016 £’000 Forecast 2015 £’000 Budget 2015 £’000 Stipends8,3158,255 Employers National Insurance 669664 Pension2,9862,965 Subtotal11,97011,884 Cost of providing housing 3,2843,355 Total direct ministry costs 15,25415,239 5

6. Church of the Future Budget 2016 £’000 Forecast 2015 £’000 Budget 2015 £’000 Pre-ordination grants365 Ordination and first appointment grants 83 Direct costs of curates in training 2,0051,970 Diocesan training costs557441 National Church training for ministry 827836 Total3,8373,695 6

7. Support costs – National Church National Church costs Budget 2016 £’000 Forecast 2015 £’000 Budget 2015 £’000 National Church responsibilities 624609 Grants and provisions78 Mission agencies clergy pensions 4948 CHARM (Church’s housing assistance for the retired clergy) 270256 Total1,021991 7

8. Support costs – Diocesan Diocesan costs Budget 2016 £’000 Forecast 2015 £’000 Budget 2015 £’000 Parochial ministry support 1,2431,2751,205 Mission of the Diocese1,9591,7751,779 Compliance and governance 737709719 Share rebates591505 Share under collection588683 Vacancies(962)(1,070)(870) Trust and other income(299) Total3,8573,5783,722 8

9. Parochial Ministry support costs – more details Parochial ministry support Budget 2016 £’000 Forecast 2015 £’000 Budget 2015 £’000 Bishops, Archdeacons and Area Office costs less central church support 525515 Clergy removal costs105 Grants – clergy & parish building 191 Clergy HR, parish service cover & other clergy costs 422464394 Total1,2431,2751,205 9

10. Mission of the Diocese costs – more details Mission of the Diocese Budget 2016 £’000 Forecast 2015 £’000 Budget 2015 £’000 Mission team – Making Disciples 506434 Mission in the World158156 Board of Education grant309244 Grants – ecumenical, PACT, Council for the Deaf 268258272 Communications285266236 All other mission activities433417437 Total1,9591,7751,779 10

11. Summary Balance Sheet as at 31 December 2014 General £M Designated £M Restricted £M Endowment £M Total £M Fixed assets0.164.0212.2-276.3 Investments1.00.199.53.0103.6 Current assets8.61.31.10.111.1 Liabilities(2.0)(2.3)(0.3)-(4.6) Total assets7.763.1312.53.1386.4 11

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