This has been another economically demanding year due to increased costs especially in fuel and staffing. In addition, with the relocation of Exeter Foodbank and the closing of the District Office things will continue to be hard. However, on a positive side, bookings revenue continues to be very buoyant and giving has continued to increase. We are very grateful for the support from the Circuit and Benefact Trust. Grants were received for major works (last year £54,300 for our boiler replacement), and this year £72,000 from the circuit for the Mint Lane external work and £8,750 from the Benefact Trust towards the planned solar panels and lighting upgrade. Our balances have increased largely due to a £10,000 legacy from the estate of the late Enid Hopkins but we need to continue to build our balances from the current three months of reserves to the recommended 6 months.
Below is some extra detail of income and expenditure including figures from the two previous years.
Here is a shortened form of the annual report to Church Council
Income from collections and donations
It is very encouraging to see the increase in giving especially at this demanding time for all. A significant number of our congregation have increased their on-line giving following the Anniversary Appeal.
| 2021-22 | 2022-23 | 2023-24 |
| 84,325.20 | 94,594.39 | 96,328.65 |
Gift Day
Thank you to everyone who has contributed to the encouraging Gift Day total which will help boost general funds. All the figures below are exclusive of gift aid. This year’s figure will be boosted by around £5,000.
| 2021-22 | 2022-23 | 2023-24 |
| 20,100.00 | 18,350.00 | 21,295.00 |
Room lettings income
The 2021-22 figure, below, was when we were still recovering from covid but the progression since then has been very welcome even adjusting for inflation. These excellent figures are in no small part down to our hard working and supportive staff. The loss of Foodbank will impact here – they contributed approximately £15,000 per annum but there are already signs of extra bookings using some of the vacated space. Letting rates rise by 12% this September in line with inflation particularly in relation to fuel and staffing cost rises.
| 2021-22 | 2022-23 | 2023-24 |
| 53,129.85 | 68,022.39 | 80,949.43 |
Utilities
The substantial rise in fuel costs is clear to see. The electricity tariff increased by more than 50% in March but there is some light at then end of the tunnel – our new gas contract (from September) is over a third less than the very high figure we have had for the last two years
| 2021-22 | 2022-23 | 2023-24 |
| 8,367.90 | 14,999.14 | 17,409.94 |
Repairs and Maintenance
The figures below are for repairs and maintenance so do not include the capital projects. The figure below for this last year includes almost £1,500 for work by our maintenance contractor.
| 2021-22 | 2022-23 | 2023-24 |
| 21,402.05 | 22,240.46 | 18,681.37 |
Salaries
Salary rates rose by 10% in April. Our salary costs include pension and national insurance payments, but the table below only covers those on our payroll. This does not include self-employed and contract work such as our contract cleaner, IT support, additional paid receptionist and organists. These non-payroll payments came to more than £28,000 in the 2023-24 year which is in addition to the figure below.
| 2021-22 | 2022-23 | 2023-24 |
| 51,353.70 | 54,989.11 | 55,566.24 |
External fundraising
The Mint congregation has continued its pattern of incredibly generous giving to external causes -raising in excess of £10,000 in the last year (including our Charites of the Years). It is also worth noting that the church substantially supports several groups that we work with who use our premises with reduced or waived rent.
In conclusion: I am extremely grateful to Judith Ilika and Trevor Jones who make up the treasurer team dealing with the day-to-day finance work and all the employment matters and also to our gift-aid secretary (Martin Easton) for this vital work. I am also grateful to the ‘Collection’ Counting Team for the work they do each week.
Peter Cordery