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Church Finances, Dec-11 Update

//Church Finances, Dec-11 Update

Church Finances, Dec-11 Update

Have you ever wondered:
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  • Who pays the minister?
  • Who repairs the church?
  • Where the collections at church end up?
  • Why some people use collection envelopes?
  • Why some people do not put money on the collection plate?
[/starlist]

How much does it cost to run Baildon Methodist Church?

This is our second report and based on the year ended 31 August 2011.   It has cost about £142,100 to run Baildon Methodist Church during the year.  This works out as an average of about £2,733 per week.  Of that total, £264 per week related to building improvements and other new initiatives, such as setting up the website.  We also have some income from Wesleys Café and Room Letting which amounts to about £706 per week before associated caretaking, cleaning and utility costs.  The remainder, some £1,763 per week, represents the recurring, on-going running costs, or, as we have about 140 people a week at Sunday worship at the church, £12 per person per week.

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Circuit Assessment

The ministers  who share pastoral responsibility for the churches in the circuit have their stipends (including national insurance and pension contributions) and manse costs paid via the circuit assessments paid by each church.  There is also the cost of running the circuit (administrators, other lay workers, travel, stationery, postage, etc) and a contribution towards the district expenses.  There are also the central costs of the Methodist Church nationally, including training of ministers and grants in support of the work of the Church at home and abroad.

Church Running Costs

These include the photocopying of service sheets and weekly notices.  There is also the cost of our Lay Worker working with young children and families, as well as our website costs.

Caretaker & Cleaning

We are fortunate to have a caretaker essential for setting up rooms for letting and who also does the church cleaning.

Buildings

Baildon Methodist Church’s building is over 100 years old and costs a large amount of money to maintain and update. There are also the costs of heating, lighting and insuring the church, the hall and other activity and meeting rooms.

Donations

The Church gives donations out of general income, mainly to charities sponsored by the Methodist Church nationally.  Usually, there are also several special collections during the year, at the end of services, for other public charities to which members generally contribute some £2-3,000 over the course of the year.  In addition to that, some organisations within the Church not only give money direct to charities, but also donate to Church funds, and such donations are included in Other Income below.

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INCOME

Direct Giving

About  70% of our total income comes from direct giving, and the associated Income Tax Refunds

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Standing Orders

Most people now give monthly or weekly by standing order direct from their bank account. This is a very efficient way to give to the church as there is less effort required to keep track of your giving to reclaim tax. You can download a standing order form here.

Standing Order (pdf)       Standing Order (Word)

Envelope Scheme

The envelope scheme is also an efficient way of giving, especially if you are a tax payer.  You are given a numbered envelope for each Sunday of the year.  This enables you to give every week even if you are away from church on some Sundays.  Church Stewards,  Treasurer, or Gift Aid Secretary can give you a supply of envelopes.

Whilst we prefer folk to give by Standing Order, whether new to the Church or not, we recognise that neither that method of giving, nor the envelope scheme,  may be practical to some people, for a variety of reasons.
We must stress that everyone is most welcome to worship with us, and use our facilities, however much, or how little, they feel able to give to the Church, and by whichever means they give.

Gift Aid

If you are a taxpayer and make a Gift Aid Declaration in favour of the Church, which is a charitable body, the Church can reclaim the tax you have paid on your giving.  This makes every £1.00 given by you worth £1.25 to the Church. Once a Declaration has been made all the money given to the Church can be included in the Gift Aid scheme and the tax reclaimed (although, to enable the Church to recover the tax, all gifts must be recorded to the individual donor, mainly by way of a numbered envelope, or through Standing Order).  Again Church Stewards, Treasurer, or Gift Aid Secretary can give you a Declaration form.

You are free to withdraw the Declaration at any time if you cease to pay tax.

Downloads:  Gift Aid Form

Other Income

This includes income from letting rooms in the Church for weddings, funerals, and other activities. We also get income from our catering activities through Wesleys Café.  There is also a small amount of interest from the Trust Funds donated in the past.

Bequests

A good way of helping the Church is to make a Bequest to it in your will. All Bequest moneys received are invested in Trust Funds with the Trustees for Methodist Church Purposes, and the investments earn interest.  The Church Treasurer can give you advice on this, or your solicitor can advise you.

St Paul said:-“…on the first day of every week, each one of you should set aside a sum of money in keeping with his income, saving it up, so that when I come no collections will have to be made…” (1 Cor 16:2)

You can see from a comparison of the above summaries that our expenditure presently exceeded our income, and we have had to use some of our reserves to cover the shortfall.  Our reserves are adequate at present, but such a situation can only continue for a limited period before those reserves are exhausted. The total amount by which our expenditure exceeds our income, including the building improvements & other new initiatives was equivalent to £342 per week (or £2.30 per week per regular worshipper); at the level of recurrent, on-going running costs the deficit is £61 per week (at this level an extra £1 per person per week would bring a small surplus).  So we need all our members and other supporters to give as much as they possibly can to the church to enable us to continue our worship and work in the community.

By | 2017-11-30T14:31:27+00:00 December 16th, 2011|Running the Church|1 Comment

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  1. […] Updated Article on Church Finances, Nov 2011 […]

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