Treasurers’ Day 25 th September 2015

1. Treasurers’ Day 25th September 2015 2015 DBF BUDGET

2. Background • Period 2006-2012 – 7 years of deficits • Total reserves used £5m • Unsustainable • Period 2013-2015 – Breakeven budgets • Actual results 2013 and 2014 close to breakeven • 2015 forecast breakeven or small surplus.

3. DBF OPERATING DEFICIT HISTORY

4. Budget Timetable • Jan- Apr – Parish survey of membership/category • May-Jun – Departmental budget process • July – Scrutiny of departmental budgets by Finance Group • Aug - Parish survey results input into share model • Sep - Approval of budget by Bishop’s council • Oct – Budget adopted by Diocesan Synod • Nov – Share requests sent out to parishes

5. 2015 Budget - Income versus Expenditure £11.9m

6. How much does a stipendiary priest cost in 2015 ?

7. ParishesAdult Survey membership 2015 • Membership is declining at a rate of just under 2% a year • We need to reverse this decline • Latest declared membership c 22,000

8. ParishesSocio Economic Categories • Not quite a bell curve – skewed to right • 25% of parishes declared A B C compared with 39% E F G

9. WHAT DOES IT MEAN FOR PARISHES?AVERAGE PARISH SHARE INCREASE 2015 • Common Fund increase approved by Diocesan Synod • Membership and categories supplied by parishes • Each parish’s increase or decrease will be individual based on their annual changes in membership and category

10. Parish Share per member in 2015 • D (Mid) £8.84 per week equates to £460 a year • Average weekly increase requested 32p

11. FINANCE TASKS • Collecting Parish Share – 99% aim for 2015 • Meeting the break-even operating position • Managing and growing the asset base • Keeping the cash flowing in and out, evenly • Maintaining the property portfolio (£55m) • Managing the investments (£35m) • Paying 200 stipendiary clergy / 50 + employees