Last Sunday, November 28, about 50 people were present for AGM 2016. As all of the reports had previously been distributed, Adam presented a brief outline of his report, thanking the many people who assist him in the work of the parish. The financial reports were presented and Jeremy Freyburg, the Parish Treasurer presented some graphical information to simplify what is a very extensive document. Part of the budget will address the cost of the Patio area, and makes provision for two part time roles to assist with ministry. The budget was passed with little further discussion, and then there were some questions from the floor.
As a background to the financial reports it is worthwhile mentioning where we have come from in the past 4 years that St Bart's has been on this site and where we want to be in the short term.
For the first 3 years, we were fortunate that income exceeded budget sufficiently to be able to reduce our debt by about $200,000 each year. Last year, 2015, the surplus was in the order of $250,000 but instead of all that surplus going into debt reduction, most of the surplus was withheld for future needs. In that regard, we still have about $80,000 on Term Deposit from VISION2020 donations which was earmarked to fund the salary of the Children’s and Families Minister, the balance spread across other accounts.
Fortunately, income from Tithes and Offerings is expected to increase substantially in 2016 with a budget figure of $7500pw, which if maintained will mean we won’t have to touch the Term Deposit at least for this year.
Similarly, we have sufficient funds in the Education and Christian Teaching Fund to cover the cost of the Patio area of about $60,000 ex GST, and also cover the cost of engaging consultants to commence planning work for Stage 2. Before we do that however, we still have a debt of about $124,000 at present, which we would like to clear before we embark on the project. Wouldn’t it be nice if this could happen by July this year? It will mean we will have to receive some extraordinary donations even before we launch the fund raising program for the next stage. God has been very good to us to date, and through prayer anything is entirely possible.