Central Office: 349 Wai-iti Road, Timaru, 7910  Phone: 03 686 0981       Email: oneoffice@timarupres.org.nz

Thought For the Week 10 October 2021

After a couple postponements I’m very pleased we can be together in  worship and attend to our AGM, which follows the service. I do hope you can stay around for that. We have 3 new and 1 returning parish councillors to elect and the budget for 2021/22 to approve. Both are important matters for our members to support.

Provisional figures show we finished the last financial year with a deficit of $-48,643. While we would much prefer to be balanced or positive this is actually a very good result considering we budgeted for $-87,087. This good result was due to a significant lift in our regular giving and a fall in our expenses.

The budget for 2021/22 is predicting a shortfall of $-56,100. There are some cost pressures around staffing our parish and running our two sites. Against this is an increase in investment income from a higher yielding account (3% Mercer Long Term fund which has $1m) and an expectant rise in interest rates generally which will help us. Our facilities are well used and are generating income streams for us as well. It is worth noting that our reserves of $320,000 mean we can sustain these deficits for about 5 years. Many businesses would be thankful to have that level of certainty!

Next Sunday we will return to our normal pattern of services at each site. Thank you for your patience as we have navigated the disruptions of late.

Nga mihi,

Brent

Categories: Thought for the week