Due to your phenomenal generosity last year, we started with an expected deficit of £70,000 and ended the year with a surplus of £50,000!
Both regular and one-off gifts were significantly more than we expected, meaning that our total income (£1,050,000) was 16% higher than budget (+£140,000).
On behalf of our mission partners, Vestry and staff, can I start this financial year for thanking you for your faithful and generous giving!
The breakdown by ministry is in the Giving Leaflet, please take a look!
Whilst we never hope to end the year with a deficit, due to your faithful giving over many years, we are in the fortunate position to have reserves to accommodate a deficit of this size. One of the reasons for the deficit is that regular giving has been decreasing month on month for the last 6 months.
If you consider St Mungo’s to be your church, then at the start of this new financial year, please could I ask you to review your financial support? If you have any questions on the finances of the church, please e-mail me on Katherine.burnett@stmungos.org.