For the first time in over a decade the diocese achieved a surplus in 2004 and should do so again in 2005.
This was achieved by increasing income by £1.6m to £21.7m of which contributions from parishes increased by £1.3m.
Expenditure was broadly similar to 2003 with increases in stipends off-setting a reduction in 13 clergy posts to 454 during the year. It is envisaged that clergy numbers will reduce to 446 in 2005 and then remain at this lower level. However part of the reason for a financial surplus is that the number of clergy vacancies has been increasing and currently stands at 29.
Now that the Diocese has achieved a balanced budget, it is turning its attention to bringing up the level of clergy stipends closer to the national average. At present London clergy receive stipends well below the national average although it should be pointed out that the diocese is relatively generous on the provision of housing.
If you want further information please look at the website www.london.anglican.org or contact me.