1. Archdiocese of Cardiff Finance briefing for parishes April 2010

2. Finance Briefing Agenda Diocesan financial results for year ending 31 March 2009 Parish Assessments for 2010/11 Parish Audits Parish financial management Parish budgets Facing the Future Papal visit 2010 Gift Aid 2010/11 Finance Spreadsheets Questions and comments

3. Financial results for 2008-9

8. Parish Assessments for 2010-11 If assessment rates held to last year, budget deficit of £170k. Dealing with the Budget deficit: - Reduce interest on parish deposits to 0.75%, with commitment to increase if market rates improve -£60k –Repairs to Archbishop’s House funded by legacy- £80k –Possible Special Collection for clergy welfare - £31k

9. Parish Assessments for 2010-11

11. Buildings Expenditure EXPENDITURE in 2008-9 £800k. AUTHORISED £800k of parish building works in 2008-9, including £620k of loans. AUTHORISED £680k of parish building works in 2009-10 including £90k of loans AUTHORISED loans of £180K to governors of four primary schools, enabling government grants of £1.9M to be obtained. 30 projects, details published in the ‘Catholic People’

12. Major projects approved in 2008-10 Our Lady and St. Patrick, Maesteg Repairs £450K, ( total £650k) St. Mary Monmouth Repairs to church and presbytery £160K St. Alban, Pontypool New Heating system £45k St. Francis Xavier, Hereford Presbytery external repairs £52k St. Julius, Newport Extension and refurbishment £51k Christ the King, Cardiff Parish Centre redevelopment £185k

13. Loans to Schools - update In 2009, approved loan of £900k to governors of Archbishop McGrath High School Bridgend, to enable complete rebuild on new site. This enabled Government and Local Authority funding of £15M to be obtained.

14. Buildings Expenditure – Looking ahead Please take action to address:- –Fire risk assessments –Health and Safety –Essential maintenance Obtain prior approval of Finance Committee for items over £2000

15. Parish Audits

16. Parish budgets Draft budgets for 2010/11 prepared and published to parishes in February 2010 Reflects 2010/11 assessments and continuing benign outlook for inflation at around 3%. Includes reduction in interest paid on parish deposits Indicates a aggregate surplus of £830K excluding any major works yet to be approved. 18 parishes have indicated deficits in 2010/11 Please advise diocesan finance department of any significant changes to draft budgets

17. Parish Financial Management

18. Facing the Future

20. Gift Aid 2010-11 Transitional Relief Reduction in repayments from 22% to 20% (11.3% of diocesan tax reclaim, approx £ 44k) which would have occurred in 2008/09 but for the transitional relief will take effect from 6th April 2011. To maintain the status quo we will need to increase the level of giving by 2.5% across the board. Message. Try to persuade more regular givers to sign Gift Aid declarations

21. Gift Aid 2010-11 From 1 April 2010, all parish Gift Aid Claims will be credited directly to parish current accounts, unless parish has an outstanding loan account.

22. Gift Aid - General Offertory envelopes should be ordered on a tax year basis thus ensuring that each donor has the same number throughout the year

23. Finance Spreadsheets Ordinary Accounts Gift Aid A pair of very useful FREE tools !!!!!!!!!

24. Ordinary Accounts spreadsheet Replaces clerical accounts book 1.Once monthly figures are entered 2.All calculations are done automatically Totals numbers Transfers totals to Monthly Summary and Annual Totals 3. Provides monthly reconciliations 4. Provides automatic totalling of “3rd Party” collections and payments. (eg CAFOD & similar) Plus helps balancing 5. Currently used by approx 60% of Archdiocese Benefits : Many hours per month saved, much easier than doing it clerically

25. Gift Aid Spreadsheet Provides complete report for Archdiocese detailing totals collected by individuals who sign up to Gift Aid Totally flexible, allows entries of collections: Gift Aid envelopes – minimum requirement To suit individual parish – any or none of the following : Non Gift Aid Envelopes Cash Other special collections, For the last two years this has been trialled and developed with the help of 6 parishes, it is now available for other parishes Automatically totalling collections and calculating the last payment date.

26. Thanks This presentation will be available on the website rcadc.org early in May. If you would like to receive an email copy of the presentation please provide mailing details on the list on the table. THANK YOU FOR THE CONTINUING SUPPORT TO YOUR PARISH AND DIOCESE.