All Saints Parochial Church Council has a set a balanced budget for 2007. Initial fears that a deficit budget may have had to be set were allayed by the report of the Stewardship Committee which confirmed that the level of giving pledged by All Saints members in September 2006 means that predicted income for 2007 would be sufficient to enable a balanced budget to be set. Significant new items in the budget were an allocation of £2000 for the “Fresh Expressions of church” work being led by Revd Michael Johnson, and also a further £2000 for work with existing young people’s groups in the church.
Reverend David Hodgson said, “This does not mean that we may be complacent. The pledged giving figure is a reliable indicator of future income but it is none the less always possible that it will vary to some extent over the year, as we have seen in recent years. It is important that all members of All Saints understand how we resource our Christian ministry as a parish”
But, though there was cautious optimism about the finances for 2007 the PCC continued to express concern about the 2006 situation. Current indications are that actual income will fall below the pledged income and that this will result in a deficit of around £8000 at the end of the year; virtually wiping out current reserves in the General Fund. An appeal has been made asking church members to consider if they might help rectify this situation.
The single largest element of All Saints annual income is the pledged giving from members. And by far the largest item of outgoings is the Diocesan Parish Share, in 2007 totalling just over £115,000. This payment covers the total costs of the two stipendiary clergy at All Saints, who are paid and housed by the Diocese; and also makes a necessary contribution to the wider costs of the church’s ministry in the Diocese and the country.