FINANCE REPORT 28 SEPTEMBER 2017

CUMBRIAN MARTYRS – FINANCE REPORT 28 SEPTEMBER 2017

Parish Finances

The accounts of St Bede’s and St Edmunds have been merged, and the accounts are balanced up to the end of August. At that time, the current balance was £100,828.58. Fr Jim asked me to look at this balance and see how much might be invested, and a sum of £60,000 will be invested.

The invoice for the Floor in St Bede’s is about £5,000, after which there is no significant expenditure on the horizon.

In the last financial year, both parishes spent more than they received. St Bede’s £8,907, St Edmunds £ 14, 084 a total of £22,991. This was caused by expenditure on Health and Safety.

The Health and Safety issues are resolved and Cumbrian Martyrs should be able to function on income received.

Finance Committee

The Committee will meet in October and I hope that Financial Protocols can be established governing Tendering, Ordering and identify those persons, apart from Fr Jim, who can authorize the expenditure. It is important that there are clear guidelines in place in order that everything is open and transparent. It is also important that any member of any committee can be protected from accusations of self-interest. I feel that a register of Declarations of interest should be maintained. These issues will be examined by the Finance Committee.

One other item is the audit of Gift Aid in both parishes for 2016-17. St Bede’s has been completed, and St Edmund’s is ongoing. The Audit is carried out by the Diocese.

Looking ahead

In the short term, there is the appointment of the new Bishop. What will be the effects?

In the longer term what will happen when Fr Jim retires?

Uncertain times!

D J Carrick.

 

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