1. BRIEFING ON DiocesAN finances
Presentation to
Diocesan Synod on
13 Oct 2018
Revd. Richard Williams BSc FCA
Finance Director

2. WHERE OUR MONEY CAME FROM

3. WHERE THE MONEY IS SPENT

8. SUPPORT COSTS FOR A PARISH (2019 Values)
Cost of a Full-time Incumbent £41.0K
Diocesan Parish Support Costs per Benefice £9.6K
£50.6K
Average contribution required to cover costs of
Future Ministry, Wider Diocesan Mission and National CofE £13.3K
Net average contribution required to support parishes unable
to cover fully the cost of a Full-time Incumbent and Diocesan
Parish Support Costs £7.1K
Average contribution required from parishes £71.0k

9. PARISH OFFERS £M
Parish Offers have remained flat over the last five years
Source: RSDBF Accounts

10. CONTRIBUTION RATE
38%
Rochester has the 3rd lowest contribution rate as a % of income; out of 40 Dioceses
Source: Church House 2018 Stats

11. Indices of Deprivation
Contribution Rate For More Deprived Parishes
CONTRIBUTION RATE FOR MORE DEPRIVED PARISHES
Most Parishes in deprived areas have contribution rates far in excess of 50%
Not only are we running a deficit, but many Parishes in deprived areas are significantly under-resourced
Indices of Deprivation

12. GIVING COMPARED Rochester is less deprived
Giving as % of income in Rochester is 3.2% vs 3.6% nationally and 5% guideline

13. Income and generosity Average 3.6% income The wealthy do give more.
BUT as a proportion of income they give less.

14. CHALLENGES WE FACE!
Understanding and operation of the Parish Pledge system
Local support for the mission of the church
Increasing awareness of the wider context
Diocesan support structures
Supporting Parishes in Mission Planning and Stewardship

15. FINANCIAL MILESTONES Called Together
Annual Risk Assessment by Bishop’s Council
Delegated Authority Policy
Financial Strategy
Underpinning Called Together
Rolling Five-year Projections
Aiming for balanced budget by 2021
Annual Operating and Capital Budget with Cash-flow – approved Synod – Autumn
Annual Audit and Statutory Accounts – Spring

16. PROPOSAL FOR INDICATIVE OFFERS
Indicative Offers for each Deanery and Parish
Formula:
Cost of ministry provision (£41K for a full-time incumbent)
plus £9.6K per benefice for Diocesan Parish Support Costs
plus 50% of Residual Net Income
System of appropriate follow up and support
Establishing a ‘Common Fund’
Common Fund … recognising we all share in the responsibilities to fund mission and ministry across the Diocese

17. Indicative Offer calculation diagram

18. CONSULTATION TIMETABLE
Consultation Process
23 June 18 Diocesan Synod
5 Sept Deanery/Parish Consultation
W/c 10 Sept 18 Deanery/Parish Indicative Offers Published
2 Nov 18 Close of consultation
2 Mar Diocesan Synod for Approval

19. Questions?

20. BALANCE SHEET COMPOSITION