Good news in 2007

Our income for 2007 was unexpectedly high, mainly due to several one-off gifts. We therefore made a surplus on the general fund in 2007 of almost £100,000. This is a wonderful position to be in and means that we can increase our budgeted expenditure for 2008. The details of the expenditure budget are given below but we are budgeting to make a deficit of £137,000 in order to spend the surplus that we made this year, and more. Included in that are plans for a new grand piano and organ for the church, and increased giving to UK and overseas based gospel work. The Property Committee is also undertaking a review of all the church buildings, and the current and future needs particularly to accommodate our growing youth work. These developments might require additional funds in the latter part of 2008 or into 2009. We are very grateful to all those who give to Emmanuel, especially those who give by regular standing order, enabling us to plan and manage our finances more effectively.

Can you help spread the load?

There may be people who regularly attend Emmanuel but haven’t yet committed to support Emmanuel financially. If that’s you, or if you are relatively new to Emmanuel, can we encourage you prayerfully to consider if you are able to make such a commitment. It’s very easy. All you need is described on the next page.

You may be aware that the basic rate of income tax has been cut to 20% from April 2008. This is good news for most people but bad news for charities. However the Chancellor announced transitional relief allowing charities to continue to reclaim £28 for every £100 received until April 2011, thereby improving our 2008 budget by approximately £10,000 – thank you Mr. Darling! If you don’t yet give to Emmanuel through Gift Aid and are a tax payer, please consider starting – it makes a big difference to our finances, as described on the next page.