Finance

The Committee is responsible for the general financial oversight of funds administered for the benefit of the United Reformed Church under the overall authority of the General Assembly, for ensuring that proper procedures are in place for the maintenance of accounting records, the safe custody of assets and the preparation of financial statements, for giving financial advice to other councils of the Church as appropriate, and for taking such decisions with regard to the finances of the Church as are necessary within the policies set by General Assembly.

Committee Members

Convener: Mr Eric Chilton (Honorary Treasurer) Secretary: Ms Avis Reaney (Financial Secretary)

Revd David Dones, Mrs Alison Holt, Miss Muriel Proven, Mr John Rowatt, Mrs Marie Whitman

Dr Brian Woodhall (Convener, United Reformed Church Trust) and Mr John Woodman.

1. Our remit

1.1 We have reviewed our role and, in particular, its implications for our working arrangements with the Resource Planning Advisory Group of Mission Council and the Review Group. We believe a better understanding has been reached on our respective roles and this should improve the management and planning of our financial affairs.

2. The budget process

2.1 Further guidance has been given to budget holders on the preparation and management of budgets. This was well received and this has already led to better management and control of our expenditure.

3. Risk Assessment

3.1 The Financial Secretary has given a full presentation on the statutory and audit requirements to the members of Mission Council Advisory Group who have overall responsibility as the Church Trustees. Steps are being taken to manage more proactively this important area of governance.

4. Financial appraisal

4.1 Advice has been given to committees on some capital and revenue expenditure projects. However some proposals still get launched before the opportunity is taken to obtain an adequate financial appraisal. In the end this can only delay the consideration of the project. It should be appreciated that the role of the Finance Committee is to advise on the financial aspects of proposals and not make a judgement on their wider merits.

5. Personalia

5.1 This year we thank Muriel Proven, John Rowatt and Brian Woodhall for their services to Finance Committee as they stand down having completed their term of office. In particular we would like to record our gratitude to Brian Woodhall who has also been a Director of the United Reformed Church Trust, latterly as its Chairman.

5.2 We must also give an especial tribute to the staff. Last year was quite difficult as two staff resigned unexpectedly and this year another member has been away on extended sick leave. Despite these shortages deadlines have been met and the staff have continued to give a high standard of service politely and cheerfully.

Resolution 23: Accounts

General Assembly adopts the accounts for the year ended 31 December 2003.

1. 2003 Accounts

1.1 The 2003 accounts are set out in Appendix 7 and include a report from the Finance Committee commenting on the result for the year and the financial position as at 31 December 2003.

Resolution 24: Auditors

General Assembly resolves that RSM Robson Rhodes LLP be re-appointed auditors of the United Reformed Church, to hold office until the conclusion of the next meeting at which accounts are laid before General Assembly and that their remuneration be fixed by the Finance Committee.

1. Appointment of auditors

1.1 The United Reformed Church is required to appoint auditors at each General Assembly at which accounts are laid before the members. The auditors are appointed from the conclusion of the forthcoming General Assembly until the conclusion of next year’s General Assembly.

1.2 As part of our continuing review of all our professional advisers, this autumn we will be reviewing our auditors.

Resolution 25: Ministry and Mission Fund

General Assembly gratefully acknowledges the giving of the churches in 2003 to the Ministry and Mission Fund and the work of the local church, district and synod treasurers.

1. The giving of the members of the Church to central funds

1.1 The financial operation of the Plan for Partnership in Ministerial Remuneration could not happen if each Church Treasurer did not make very great efforts to ensure that the money required for this part of the work is in the local bank account on 20th of each month, for collection by direct debit.

1.2 That this system runs very smoothly is evidence of much hard and devoted work, and in thanking the Church for the response to the appeal for Ministry and Mission, the committee would also wish to acknowledge that largely unthanked group, the treasurers, in local churches, and also at district and synod level.