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UPDATE FROM OUR TREASURER
Autumn/Winter 2024
We have reconciled accounts to end of September, so we now have an insight into our “3rd Quarter” position. We continue to thank God for His grace & provision and the generosity of all those who join with us in fuelling with prayer and gifts of time & treasure, the many activities across the “All Saints” community & beyond.
As I noted in the last update, our budget for 2024, is a challenge of faith! The PCC are committed to encourage all that we see God doing in us and through us as a church. It’s in our hearts to add the fuel of resources to the growth that God is evidently flourishing amongst our children, youth and student ministries & mid-week groups. And yet, we must continue to balance practical stewardship and the need to address the reduction in our Resourcing Church grant, whilst contending with the challenges of life that growth brings to our places and spaces, for example, where do we host growing numbers of young people each Sunday, the Church office is far too small for comfort!
In conversation with our Curate, Jamie Klair, he reminded me that we celebrate with thanks and share our requests for generous giving, in the light of God’s goodness towards us and our commitment as a church family to pursue God’s plans in three areas: formation (an intentional & integrated focus on discipleship, prioritising the development of midweek groups), presence (fuelling a greater spiritual hunger & increasing prayer), mission (cultivating our evangelistic edge in all we do, growing our vision for social renewal & contending for justice) – and so, I share the challenge and the need for increase in finance and resources in the light of the wonder of all that God has done and is doing amongst us, in this season at All Saints!
Our general Income has sustained growth of around 13%, compared with the same period last year. However, this is still behind our overall target budget for the year, by around 18%; with the use of unrestricted reserves this reduces to 7% (an income to expenditure gap of circa £26,000 over the year). This figure sits in the context of rising costs and an increased demand for resources, as we continue to grow ministry & mission and as our Resource grant tapers-off by a third this year.
Expenditure remains lower than PCC had budgeted, which is welcome in terms of cashflow, however, this position is changing rapidly through the Autumn term, as activities and engagement increases, by the end of September we were £9,138 overspent against our annual budget, so have used savings built up earlier in the year. On a positive note, I said last time we would much prefer someone shaping the faith of our young people, rather than a saving on budget, so we are delighted that God answered our prayers with the appointment of Emily Coles - at just the right time!
The current forecast for the end of year is a deficit on General fund of around £16,000, which would leave less than one month of reserve funds to carry forward to 2025. Please pray, that through the Autumn term, God will provide and prompt additional growth in regular income & one-off donations to help improve our overall position.
Our Places and Spaces are a blessing as we gather but also a challenge to run and maintain. The capital project to upgrade & replace lighting and electrical systems in All Saints church is progressing with allocation of funds for the preparation of the scope of works, technical specifications & estimated costs. We will work to develop plans for a concerted effort to raise the necessary funds by grant applications and other additional giving, in 2025. Please pray for wisdom and provision as plans develop over the coming months.
As ever, our annual cycle of challenges in the Autumn & Winter with heating and church boilers has already begun, we are continually trying to contain unexpected costs and reduce the risks of failures with upgrades and necessary changes, the reality is, the All-Saints boiler and heating system is beyond its’ effective service life and will need to be a priority for capital works after the electrical upgrade.
As mentioned, we need an additional larger space for our Youth on Sunday mornings. We’re currently trialling the rental of a different space in the centre of Worcester. We need to consider additional funds to facilitate a longer-term, weekly rental of a venue – please, pray for wisdom and provision of the right space to host our Youth – if you are able to help fuel this with an additional financial commitment please let me know.
Please continue to pray for the ministry of Foodbank, this expression of love & care for the people of Worcester and beyond is continuing to serve growing needs. We thank God for His favour and provision. Gifts of food & finance and practical compassion continue to flow generously from the wider church & community, local businesses and many individuals.
If anyone has any specific questions, please contact me by email: treasurer@allsaintsworcester.org.uk
I trust this update serves as a heartfelt thanks for your generous support and a prompt to join in thanks and prayers for God’s continued blessing and provision. Our God is good, and He loves us!
Steve Chase, PCC Treasurer