The Parish is required to produce a finance report to parishioners at the end of each finance year (end Dec each year). The full report is published online (click here) together with the opportunity to make comments or ask questions.
The parish had a £6,882 surplus of income over expenditure in 2022. There are, however, several factors which mitigate against an overoptimistic view of this unexpected profit.
- 2 legacy bequests totalling £8,000 made the difference between surplus and loss.
- The underlying trend is a £10,000 annual reduction in offertory income compared with pre-Covid levels; this has been compensated in this year by cost sharing income from St Marys, Chippenham
- We predict that increasing pressures on our expenditure will see a return to deficit in 2023.
We predict that 2023 is going to be another challenging year;
- our income levels are below our current spending, and
- our expenditure is expected to rise significantly compared to last year as energy prices increase and we tackle our growing building maintenance backlog.
We expect to have to run a fund raising campaign throughout the year and to seek to increase use of Gift Aid but anticipate having to dig into our reserves once again