PARISH FINANCES

Dear Parishioners,

The St Osmund Parish Consolidated 2022 Financial Statements, which include the results of St Elizabeth Hall and House are below. There are printed copies available in all of our churches. I apologise for the delay in publishing the 2022 results and in order to provide you with a more current position, the results for the first six months of 2023 are also presented below.

We should not be complacent about the fact that at the end of 2022, net assets totalled just over £1M as the operating surplus for 2022 was only £10,735 and, after excluding the income generated from our rental properties, there was a loss of £55,400. For the first six months of 2023, after excluding the impact of the rental properties, the loss escalated to £101,765. This loss was mainly attributable to the cost of repairing the St. Osmund's Church roof, refurbishing St Gregory's Hall and Church and removing asbestos from parish properties. We anticipate further significant costs, including the costs relating to the works identified as part of the quinquennial assessment with the Diocese, to ensure that the St. Osmund and St. Gregory properties are ‘Fit for Purpose’. 

Further explanations of the financial results are provided under the Financial Highlights at the end of each set of figures. If you have any questions, please email me on [email protected].

God Bless

Mike Riding

Chairperson of the St Osmund Finance Committee