money jan - dec 2019
Money in £217.7K | Money out £186.1K | Surplus £31.6K
Some 80% of our income comes from regular giving
At the beginning of 2019, we budgeted a deficit of £18K to be met from our reserves. Through God’s care for us and the generosity of all those who so willingly gave to HTH, by the end of the year we had an amazing surplus of nearly £32K!
Once again, we celebrate God’s extraordinary faithfulness to HTH and the sacrificial giving by the members of Holy Trinity Church Hurdsfield. Some 80% of our income comes from regular giving including the Gift-aided tax rebate we get back from the Government.
We continue to employ Slade & Cooper, an accounting firm specialising in serving charities. Our online QuickBooks accounting software package has provided us with improved control and an ease of reporting.
Rachel M continues to undertake the week-to-week recording of accounting transactions with efficiency, patience and good humour; she is ably supported by John G.
Improved value for money has come about through new financial policies, the overhauling of the cost coding by which we monitor income and expenditure and devolvement of key budgets to staff and members of HTH.
We moved the bank current account from the Royal Bank of Scotland to Yorkshire Bank and received over £3K for doing so! We also established two new ethical savings accounts with the Charity Bank and the Nationwide Building Society.
We are grateful to all those who took the time and trouble to amend their standing orders and to establish new Gift-aid authorisations.
The pre-coding of transactions and the introduction of BACS online payments and standing orders made possible with the new current account has reduced the time to administer accounting, budgeting and reporting.
You can see a breakdown our income and expenditure below (click the charts to enlarge them).
Please do ask me if you have any questions about the way in which we use the money with which God blesses us so richly.