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2021-22 Financial Report and 2022-23 Budget

TUC 2021-22 Financial Report and 2022-23 Budget

2021/2022 Financial Overview

• The year just completed was our third “non normal” year in a row. A large part of the second half of 2021 was spent either locked down or with mobility diminished, which led to both Offerings and Property Income being lower than budgeted. Offsetting these lower than budget outcomes, our expenses were also lower, with a resulting minor cash deficit for the year of $12,000.
• There was great news on the staffing front, as our second ordained Minister arrived on 1 January, a most welcome New Year’s event with Kevin and his family warmly welcomed to the TUC family. They are living in St Ives, in a manse we rent from Gordon/Pymble Uniting Church. It is a great home for a young family, with plenty of space for the grand piano and a swimming pool. Apart from his direct pastoral responsibilities, Kevin has extended our outreach through the formation of a Community Choir and coaching basketball.
• We were also able to honour the directions of Alan William’s bequest, that the money bequethed be directed to the care and nurturing of children and young adults, with the appointment of Max to work in these areas on a part-time basis. Max is an exceptional asset to this role, with his mentoring skills complementing his leadership of our younger members.
• Although our physical premises were closed for a number of months, online streaming and delivered USBs enabled members to remain in touch, and our message was conveyed to an extraordinarily wide audience.
• Offerings fell short of Budget due to pandemic closures. The most disappointing outcome of the pandemic is that the momentum that was building two years ago was unable to be maintained and that “normal” functions may still take time. However, we are blessed that we have been able to plan for the financial impact of a second full-time MoW. Going forward, Church Council is prayerful that the congregation will continue to support the ministry of TUC within and beyond the four walls.
• Property Income also suffered through lengthy closure of our facilities. Many of our valued hirers started to return late last year. We welcome several new faces but, sadly, there are some whose businesses did not survive the pandemic. Our hiring rates are regularly reviewed to ensure that we are able to offer market-related charges, that also reflect our investment in recent years in upgrading the heating and cooling within our facilities. The Church flat remained fully tenanted.
• TUC's commitment to Wider Work was maintained, with financial support extended to our missionary families, KCEA, Nimbong Church in North India, and contributions to the work of Presbytery and Synod.