The Christian Community in Christchurch

Financial Situation for Year Ending December 2007.

   Overall this financial year has been one of consolidation.  The main difference in the accounts from that of the last year has been establishment of a Youth Fund.  This was set up to collect and disburse money for the Youth Alpine Trip which took place during January of 2008, involving young people from both sides of the Tasman.  The money needed to cover such a venture was potentially considerable and so far with only one account to hand there are sufficient funds to cover budgeted costs.  In this context it is timely to a significant gift of $3000 to cover hire of bus and travel received from the Caversham Foundation in Dunedin .  Bringing the Youth Fund to account means that the balance sheet has improved considerably from that of last year.  However it is envisaged that these funds will be tagged for use for youth activities within the Community on a national level.  In addition to this change the relocation of Hartmut to Auckland has had a positive impact on the travel costs incurred by our congregation.  The Building Fund is continuing to grow thanks to the regular support from those community members that use this account for monthly donations and the advantageous interest rates in the present economic climate.

Income .

   As was the case last year the main source of income for the local congregation came from regular contributions by members, excluding the money received on behalf of the Youth Alpine Trip.  The numbers contributing on a regular basis have remained pretty static throughout the year.  Donations for events, such as Sacramental Consultations and baptisms have been on a par with last year; the return from the retreat was lower than the previous year.  

Income came from regular donations amounting to $11540, occasional donations of $1819, and from the plate at services together with donations for events such as Sacramental Consultations and baptisms of $2575 brought the income from donations to $15934.  The bank contributed $205 for interest on deposit to make up the final income at $16139.  As at the end of December 2007 the Youth Fund contributes another $4590 to the balance sheet – this is not the complete and final figure, because there were considerable returns to be accounted for after the 1st January, but it does include the payments for the bus hire.  The general amounts for income and expenditure to date are in the table at the end of this report.

Expenditure .

   We have spent $12645 this year to pay for the operating costs of our community.  This has been comprised of regular remittances to the National Account, travel costs for Hartmut, rental for Risingholme, and costs for photocopying and postage.  To minimise postage costs we have offered electronic means for the circulation of the Community Newsetters and with the relocation of Hartmut to Auckland the travel costs have reduced considerably.  There has been ongoing behind the scenes work and services that is gifted but this has been brought to account to a large degree this year.  It is important that gifting continues for these services, but where there is a financial cost incurred this needs to be reimbursed to clearly show the costs that the community needs to cover in its day to day running.  This helps to make the financial transactions of the congregation transparent, meaningful and real; it also means things like GST can be claimed for goods and services that members of the congregation cannot claim as private taxpayers. 

Our congregation has been making regular contributions to the National Fund on a monthly basis.  Initially this was set at $800/month, but in July we increased this amount to $850/month.  From the January 2008 payment this has increased to $900/month.  At this level we come close to meeting previous payments to the National Fund, which clearly are still way below that amount that is needed by the National Fund for its working costs. So this financial year ended  we have contributed $9900 to the National Fund up from $9600 the previous year.

The rental is lower this year due to the costs of the retreat rental being covered by donation at source rather than going through our accounts, and there were less than the number of uses of Risingholme than budgeted for.  Postage has reduced in part from the changes introduced but also from members who have incurred costs not yet submitting accounts for reimbursement.  This amount should actually increase given the increased postal charges introduced in the year ended. The additional insurance costs is third party insurance arranged by the National group to cover our use of Risingholme. In all the expenditure has been comparable to that of last year, and we expect that this will continue through the coming year. 

Youth funds

      This is a new account set up during the year in response to the intention to hold a special event for the younger members of the community in a wider sense.  To provide a structure to allow them to meet challenges and be supported in this with healthy values and reflections.  All set in the alpine environment of the Southern Alps .  The funding for this came from participants, as well as from the Auckland congregation, the Christchurch congregation and a generous donation from the Caversham Foundation in Dunedin has just been received.  This has been a self funding project and to date this has been the case.  Details have not been provided as the final accounts have yet to be submitted for this project.  I would see surpluses from this event being applied to further similar events. 

Budgets for Year Ending December 2008

The year ended forecast a possible budget deficit of $143 but instead we managed to post a $3845 surplus.  Factors that contributed to this were the increased interest payments, the additional one off donations that were made, and on the expenditure side the change in the need to fund overseas fares for Hartmut.  For the coming year the budget that is suggested is to work with the figures for the year ended as a basis for the year we are now in. 

The tables appended show the figures for the year ended, budgets for the year coming, figures for the year ended 2006, with budgets for 2007.

Yours sincerely,

Michael Sargent

Treasurer,

Thank You - to all of you who support The Christian Community in Christchurch.

The community relies solely on the voluntary contributions of our members and friends. Your continuing thoughtfulness and generosity in providing the funds required for the life and work of the community is essential and very much appreciated.

Please send all donations to our treasurer Michael Sargent, 72 Bletsoe Ave. Summerfield, Christchurch 2

(Please make cheques payable to “The Christian Community”) - or organize a deposited directly into our Wespac account:

The Christian Community, account number: 03 0531 0795113 003 - or contact Mike on 9609551 for more information.

Donations are tax deductible and will be most gratefully received.

 

 

____________________________________________________