Financial Summary for 2010/11
The year ending 31 August 2011 was a satisfactory year for Trinity’s finances. Income exceeded expenditure by £3,606 and there were unallocated funds remaining at the end of the year of £33,858 (representing 6 months of expenditure). In other funds, Trinity had £11,484 to finance regular maintenance, £1,104 in a Benevolence Fund, £406 in an Outreach Fund and £1,437 given for purposes specified by the donors. The Church also held funds on behalf of the Trinity Fellowship Circle amounting to £533.
£2,971 was donated to charities during the year from Church and Benevolence Funds and, in addition, a further £5,406 was raised for charity by special Church Collections.
Summary 2010/11
Income
Free will offerings £ 58,811
Donations for use of premises £ 22,062
Interest £ 331
Other Income £ 3,614
Total income £ 84,818
Expenditure
Premises costs £ 20,852
Circuit assessment for ministry1 £ 44,694
Donations to charities from church funds £ 2,740
Other costs £ 12,296
Total expenditure £ 81,212
Income less Expenditure £ 3,606
At the year end, Trinity held £48,822 in bank and Methodist deposit accounts.
Reserves Policy
The Church aims to have general, unrestricted reserves equal to three months average anticipated expenditure. This target is set to allow the Church to meet its day to day obligations and to allow time for a considered response to financial challenges. A copy of the full Reserves Policy is available from the Treasurer.
1 The circuit assessment for ministry is a contribution from Trinity towards the cost of local ministry stipends and expenses, and for District and national church organisational costs, including training of clergy.