Hampstead Parish Church just managed to balance income with expenditure on the general fund in 2006 and we able to add £12,800 to the Fabric Reserve and increase the Parish development Fund by £30,515 to reach £200,000 a long way short of the goal of £1m.
2007 is going to be a tough year. We have replaced the Church boiler at a cost of £34,000, spent £5,000 on repairs to the exterior of the Choir Vestry and will shortly embark on renovating and improving the Belfry so that it can be used by the assistant clergy and by small groups probable cost £12,000.
The School wish to take back into their use, 3 Holly Bush Vale and we will need to have a flat ready for occupation by one of our curates by 31 December 2007. To rent or buy? That is a question the PCC to decide but you can influence the debate. You have guessed right, we need money.
Our clergy are receiving an increase in their stipend this year of 2%. Inflation is twice this figure but few Parishes across the Diocese felt able to increase their contributions to the Common Fund of the Diocese by the 4% requested. In fact the state of our finances is such that Hampstead Parish Church has reduced its giving to the Common Fund of the Diocese by £5,400 for 2007. The Common Fund receives money from Parishes for the pay and housing of clergy and relies on a number of Churches to give generously so that Churches can be kept open in poorer neighbourhoods.
The funding of the clergy pension scheme is a particular concern and the Diocese will be seeking help from Parishes to fund the deficit. It is highly likely that Hampstead Parish Church will need to increase its contribution for pensions and for stipends by £10,000 in 2008.
Less than half those attending Church on Sundays give regularly by banker’s order.
We need to an increase in voluntary giving of £40,000 per annum i.e. 25% more.
There are 2 clear goals for us this year:
1. Give more to enable clergy to have a generous increase in stipend in 2008
2. Make a donation towards the cost of providing accommodation for our curates
Even if you cannot afford to give even more generously than you do, please pray that the goals can be achieved.
P.S. If you feel you are paying too much in tax and you have done well out of the boom in the stock market, you can obtain tax relief on gifts of shares to the Church.
Finance
Inigo Woolf