2021 – Our financial challenge – can we raise an extra £20000?
The financial accounts for 2020 were approved by the PCC recently. A copy is displayed on the notice board in Holy Trinity and will be available on the website. To find out more, come to the AGM at church, after the service on Sunday 25th, or watch it on Zoom.
In this article I will concentrate on the current year, as the challenge facing Holy Trinity & St Mark’s is just as great as that for 2021.
Firstly, though, I think that it is appropriate that we give ourselves a pat on the back. Because everyone continued to contribute last year we were able to balance the books – just.
That left us at the beginning of this year with enough in the bank to last for about three months. So, if donations, particularly through the Planned Giving scheme, had not continued into 2021 we would have been shut by now. However, Planned Giving (monthly standing orders & weekly envelopes) only covers about half of total expenditure, so a concerted effort will again be needed to meet all our costs this year.
By concerted effort, I mean finding ways to increase our income over and above what it is now. I estimate that we will need at least £20000 extra income over the rest of the year to be able to balance the books. That also assumes that the income that comes in from fully open church services and social events returns to ‘normal’ after 21st June.
This challenge comes at a critical time for the future of our church. We are, sadly, losing Nancy from mid-summer and after that the Diocese will be in discussion with us about her replacement. One of the factors that they take into account will be our ability to pay the Parish Share, and we are currently in a strong position in this respect, as we have paid the Share in full for the last four years.
However, this has only been after grants from Diocesan Reserves to reduce our Share. We met with the Diocesan Finance team again recently, and they recognise that ‘lockdowns’ have reduced our ability to raise funds. They have therefore agreed another reduction of just under £7000 for 2021.
What can we do to find the money that we need?
1. Our main income comes from Planned Giving, which has about 100 members: More members = more income.
2. Existing Planned Givers – have you increased your Giving recently? An extra £4 per week from everyone would cover the gap.
3. Giving with Grace – last year we had an appeal, ‘Pray and Give’ – donations in excess of £12000 were received within 3 weeks. Should we do this again?
4. Fundraising events. Andy Williams and his team have great plans for when events can be held. Please volunteer and help towards our goals.
Above all, by continuing to be a friendly, welcoming and generous church, I am sure that we will prevail.