Update on Parish Finances

At our last meeting on 14 September, the Finance Committee agreed that it made sense to give everyone an update about how the pandemic has affected our finances in Hemel West.

The main points are:

  • Collection of cash and envelopes at mass are significantly down
  • Income from the halls has fallen off a cliff – which is significant as this makes up 15% of parish income; for example:
                                       Monthly Income
    Feb. 2020:  Parish Centre: £2,195.29: St Joseph’s: £447.34
    Sept 2020:  Parish Centre:    £272.64: St Joseph’s: £128.00
    Monthly reduction               £1,922.65                      £319.34
  • The Diocese decided to give us a ‘payment holiday’ on the loan re-payments for the building of the presbytery and adjoining flats for retired priests (the balance remaining is £6,500)
  • We benefitted from the Furlough scheme and our five paid members of staff are now back at work
  • All non-essential works have been put on hold.

This means that each month we have to pay out more than we have coming in.

We estimate that we will have a £25k shortfall on our budget for 2020. This will greatly impact our ability as a parish to invest in prospective parish initiatives.

What can we do to help?

We know that some parishioners will have been badly affected by the pandemic in various ways, including part-time working, pay reductions and redundancy, and that everyone will have appeals for money from charities asking for support.

Three ways to help:

  • If you don’t already have one, we’d like to encourage all parishioners to move to a standing order. 13 parishioners have already moved over to standing orders – thank you! We need more of us to do so, especially those who have signed up for envelopes. This will reduce the Covid risks of handling cash and also importantly allows us to know, with more certainty, what monies are coming in which is essential for budgeting
  • If you already have a standing order, please think about increasing it
  • If possible please consider making a one-off donation.

Contact the Parish Administrator  shirleybailey@rcdow.org.uk today to play your part.

The Finance Committee for Hemel West exists to advise Father Brian in his administration of the financial affairs of the parish and is made up of Deacon Simon, Fran Ayers, Shirley Bailey, Geoff Doyle, Derek Kelly  & James Stewart. Minutes from the meeting on 14 September will be made available on the website.