CCE Finances: An update
Finance reports for January to July 2022 shows us breaking even to date and £1K better than budget, with giving a little above budget by £3.5K. On top of this we have, due to uncertainties around Covid and international travel, unbudgeted but now realised festival let income that will assist in onward expenses.
Our current 3 year gas and electricity contracts end in July 2023 and March 2024 respectively and contracts beyond that were sealed taking us to December 2026. Whilst we are locked into reasonable rates we expect significant increases to our utility bills, especially beyond July 2023, and plan to build up specific reserves to counter this.
We have external works planned for September/October: a stone cross and newly painted doors, totalling £5K. The old cross atop the main entrance had to be removed due to cracking and we are required to replace it by the end of the year.
We have had space issues for some time now, especially on Sundays for children’s meetings with the youth meeting outwith the Kings Hall. We hope to address these, at least to some extent, within the next 6 months or so, and to rethink and possibly refashion the existing meeting and working spaces/rooms.
The current cost of living increases will be a feature of discussion as we enter staff review season and head towards the budget setting process for 2023.
Finally, a fresh repaint of the road facing doors, handrail and frames is booked, to freshen up the front of the building – this is provided for via a restricted fund.
As always, we are grateful for the giving of the CCE family, especially in these challenging times. Whilst much of this update focuses on fabric and running costs, these facilitate the various aspects of CCE life and we hope benefit many people.