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THE TRURO DIOCESAN BOARD OF FINANCE LIMITED PowerPoint PPT Presentation


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THE TRURO DIOCESAN BOARD OF FINANCE LIMITED. Annual Report and Accounts 2013 Michael Kent, Director of Finance. Financial Statements. Company Law, Charity Law, Accounting Standards Strategic Report Matters of strategic importance How the directors have performed.

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THE TRURO DIOCESAN BOARD OF FINANCE LIMITED

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The truro diocesan board of finance limited

THE TRURO DIOCESAN BOARD OF FINANCE LIMITED

Annual Report and Accounts 2013

Michael Kent, Director of Finance


Financial statements

Financial Statements

  • Company Law, Charity Law,

    Accounting Standards

  • Strategic Report

    • Matters of strategic importance

    • How the directors have performed


Operating deficit for the year

Operating Deficit for the Year

Incoming resources£6.5M

Resources expended£6.7M

Net Deficit for the Year£0.2M

Profit on sale of houses£0.4M

Operating Deficit for the Year£0.6M


Income 6 476m

Income £6.476M


Mmf contributions 2003 2013 net of prf grants

MMF Contributions 2003 – 2013 (net of PRF grants)


Income 6 476m1

Income £6.476M


Expenditure 6 667m

Expenditure £6.667M


Ministry in parishes

Ministry in Parishes

£5M

96 FTE (2012: 98)

9 Appointments; 16 Retirements

4 new Deacons; 6 Priests; 6 Readers

2% scale increase


Expenditure 6 667m1

Expenditure £6.667M


Balance sheet

Balance Sheet

Net Assets £69.4M

---------

Housing £45.1M(£1.4M Revalue Gain)

Investments £20.2M(£15.0M DSF Capital)

(£1.4M Revalue Gain)

---------

Fixed Assets=£65.3M

---------


Pastoral account

Pastoral Account

Fund balance £3.3M

Sold 10 Houses for £3.1M

Bought 1 House for £0.5M

Spent £1.1M on routine Repairs

and Improvements

£40K to Transformation Fund


General fund

General Fund

Fund balance £3.3M – expendable

at the Directors’ discretion

Sold 2 Houses for £0.4M

Bought 2 Houses for £0.8M

28 weeks of Annual Budgeted

Expenditure


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