St Andrews is financially solvent. At the close of 2021 it had no loans and adequate cash reserves. During the periods of the COVID pandemic when the church was closed and meeting restrictions were in place our income was affected. We managed to maintain our Common Fund commitment in 2020 and made a reduction in 2021 to offset this reduction in income. Our 2022 plan sees a partial recovery in our Common Fund commitment as our income recovers. We have been able to complete projects to maintain and enhance the building (such as renovation of the internal lighting) in this period with legacy monies and fundraising.
Finances are managed by an administrator who works closely with a third party bookkeeping company and a volunteer Treasurer. The latter is part of the church’s Governance structure as a member of the Standing Committee as well as attending PCC meetings. In addition there is a Finance committee. The accounts are audited and signed off by an accountancy firm annually.
The key financial advice and decisions typically relate to deciding the annual Common Fund contribution, the availability of funds to support PCC desired projects and the management of grant related activities. An annual budget is prepared and approved by the PCC.
The accounts for the year to 31 December 2021 are available here.