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The Committee is responsible for the general financial oversight of funds administered for the benefit of the United Reformed Church nationally 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.

Convener: Mr Graham Stacy (Hon. Treasurer), Secretary: Mr Clem Frank (Financial Secretary), Mr Desmond Davies (Convener, United Reformed Church Trust), Mr Bill Grieve, Mrs Edwina Rockey, Miss Catriona Waterson, Revd Richard Wiggins, Mr Tegid Peregrine (Church Buildings Secretary)

1.1 The 1997 accounts are set out in Appendix 2 and include a report from the Finance Committee commenting on the result for the year and the financial position as at 31st December 1997.

2.1 The Committee have noted the wish of the Pensions Executive to further improve the pensions payable to ministers with pre-Union service to the former Congregational Church and Churches of Christ. The Maintenance of the Ministry Sub-Committee report on page 106 expands on this topic. To provide for this, the Committee have agreed an appropriation of £1 million from general funds to the Retired Ministers’ Fund, which has been shown in the 1997 accounts.

3.1 The potential computer problems which may arise on 1st January 2000 have been the subject of much press comment.

3.2 Most of the computer equipment and programmes used in the Finance Office have been acquired since the millennium problem has been recognised and the Committee believes that no difficulties will arise. However, it is planned to seek independent professional advice to confirm that all reasonable steps have been taken to ensure that the dawning of the 3rd millennium is not clouded by computer failures.

4.1 As reported last year, the Committee has agreed that grants can be made for 50% of the cost to local churches of providing for easier access to buildings or to parts of buildings, especially for wheelchair users and for those with prams. Grants will be subject to a maximum of £10,000 in any one case. Since this additional facility has been introduced, 32 applications have been approved, and 16 paid at a cost of some £66,000 (to the end of February 1998). The Committee continues to receive applications for Feasibility Study grants, and 7 such grants were paid in the sum of £9,500 during 1998.

4.2 The Committee continues to be prepared to consider applications for financial assistance for the purchase or improvement of church property. Guidelines on the conditions for assistance can be obtained from the Finance Office.