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Sub-Committee Members Convener: Revd Simon Swailes Secretary: Mr Tony Bayley Mrs Edith Tolley, Mrs Pauline Mewis, Revd Graham Cook, Revd John Pugh, Mr Graham Stacy, Mr Malcolm Lindo 1 This Sub-Committee continues to be responsible for policy in matters of the provision of retirement housing for ministers and their spouses. It uses the United Reformed Church Retired Ministers Housing Society Limited as its agent for the implementation of policy and the practical steps associated with the provision of housing. 2 Although the number of purchases and sales in 2001 was comparable with 2000 overall numbers of properties have continued to rise gently and this has been boosted by the transfer of properties from Northern Synod. Number of Properties LESS Properties sold in 2001
9 Of which: At the year end 5 properties were in the process of purchase and 3 applicants were seeking a property for purchase. 3 Properties are purchased in the name of either United Reformed Church Trust or the Society but in all cases are managed by the officers of the Society. Where tenants have a financial stake in the property this is recognised by means of a Declaration of Trust. 4 The maximum contributions made by the Society or the Trust are determined annually on a county-by-county basis by reference to average prices for semi-detached houses during the preceding year. More detailed information about these maximum amounts is available from the Secretary. It should be noted that:- 4.1 Where applicants have the financial resources to do so, they may put in their own funds so as to permit the county maximum amounts to be exceeded by up to 50%. This is known as the joint ceiling figure. 4.2 Applicants wishing to have a retirement property costing in excess of the joint ceiling figure should consult with the Secretary. 4.3 These figures relate to total purchase cost, which includes not only the agreed purchase price, but also the cost of any repairs or improvements identified as being necessary at the time when the property is surveyed. 4.4 The maximum amount of contribution is not provided as of right to each applicant; the determining factor in deciding the amount is how much capital is owned by the applicant and spouse. 5.l In 2001 the standard rent was £71 per calendar month. This sum is the rent payable by those who are provided with the maximum contribution when acquiring their property. If less than the maximum contribution is provided, the rent payable is reduced proportionately. 5.2 For 2002 the standard rent has been set at £75 per calendar month. 6 Rental income for 2001 was £258,000 (as compared with £231,000 for 2000). This sum was credited to the Property Management Account, from which all costs relating to maintenance, repair, insurance and administration are taken. In 2001 these costs totalled £332,000, thus giving a shortfall for the year of £74,000 on Property Management Account. However, the General Revenue Account, which includes grants, donations, legacies and profits on sale of properties, showed a surplus of £1,569,000, thus enabling our Reserves to increase by £1,495,000 from these sources. 7 The Sub-Committee is particularly grateful for the donations and legacies received during the year. These amounted to £1,589,000. The figure for donations includes £1,154,000 made available for general use by the officers of the Northern Synod from their housing funds. The donation was largely in the form of the transfer of properties into the name of the Society. 8 During the year we spent on 16 new properties (2000 - 13) £1,720,000 in 2001 and £1,170,000 in 2000 We sold 9 properties (2000 - 11) for £529,000 in 2001 and £715,000 in 2000 Thus net investment in property was £1,191,000 in 2001 and £455,000 in 2000 We received cash legacies, donations, net rents etc. of £484,000in 2001 and £607,000 in 2000 and thus we had to borrow, in order to balance the books, a further £707,000 in 2001 Whereas in 2000, we were able to reduce borrowings by £152,000 in 2000 9 It is expected that during 2002 assistance will be required for 16 retiring ministers. After allowing for possible need for widows or for rehousing it would be prudent to anticipate up to 24 applicants in all. This could involve a net outlay of up to £1.5 million and thus the importance of a continued high level of receipts from donations and legacies cannot be over-emphasised. 10 During 2001 visits were made by the officers of the Society to approximately 68 applicants, tenants and other properties. In addition, we continue to rely heavily upon, and are grateful for, the commitment of those members of local congregations who generously give oversight to our retirement properties and who assist those who live in them. We would like to hear from anyone who would be prepared to volunteer their assistance in this respect. 11 Retirement Housing continues to figure prominently in the Pre-Retirement Courses run at the Windermere Centre under the auspices of Ministries. In 2001 three courses were run - in May, October and November and two more are planned for this year. The housing sessions are designed to be of benefit to all, regardless of whether or not financial assistance with housing will be needed. In addition, private discussions on individual needs are provided. 12.1 Steps are being taken to streamline the working relationship between the Sub-Committee and the Board of the Society and to reduce the total number of people involved. There are at present 24 people belonging to either the Assembly appointed sub-committee or the Board of the Retired Ministers Housing Society, appointed by the sub-committee, or both. 12.2 In future the members of the Board will be reduced to seven, all of whom will be drawn from the membership of the Sub-Committee and the business of the Board will be kept to a formal minimum. All decisions will be taken by the sub-committee. These plans have been approved by the sub-committee and the Society Board and will be implemented during 2002. 12.3 Appointments to the Board have been made up till now with a view to maintaining continuity and experience in order to discharge responsibility for a complex operation involving nearly 350 houses with a value of around £30 million. 12.4 The Sub-Committee is anxious that this ability to maintain continuity and experience is not lost to the Board of the Society when all members are drawn from an Assembly appointed committee and has asked the Nominations Committee to take account of this concern. |
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