Concerns for 2009 and beyond

In 2008 we aimed to spend some of our reserves as they were at a high level after an increase in income in 2007. We therefore bought a new organ and piano as well as spending money to improve the PA system. We also increased our spending on UK and International Mission to ensure that we were still giving more money to work outside Emmanuel than we were spending on ourselves. We therefore made a deficit on the general fund in 2008 of about £70k. Our reserves are still at a reasonable level at the end of 2008, however the economic climate does give us cause for concern. The UK and International Mission Committees are receiving more requests for funds which we would like to be able to meet, but the result of this is that we have a budgeted deficit for 2009 of £55k even with turning down some of those requests. Obviously we cannot afford to keep making deficits so unless income increases we will need to cut the UK and International Mission budgets more severely in 2010. 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.