Business Administrator Rob Dickson
Tuesday, March the 9th, Diocesan Council gathered for the monthly meeting at St. Augustine's in Marpole.
The principal items on the agenda for the evening were the financial reports of the Diocese of New Westminster: Audit Report and Audited Statements for 2010, Appointment of Auditors and the 2010 Revised Budget, 2011 Vision Budget.
Treasurer Ian Robertson led council through an analysis of the Synod of the Diocese of New Westminster's Financial Statement for 2009 as prepared by Rolfe, Benson Chartered Accountants.
Ian was happy to announce that the diocese had a "clean" audit with everything in order. The audited statements also revealed that the expected deficit expected for 2009 was considerably less than expected. Ian pointed out that the "clean" audit had a lot to with the excellent work of the diocesan finance staff and that the major reduction in the expected deficit had a lot to do with the fiscal responsibility of diocesan staff.
Diocesan Council unanimously agreed to recommend the statements be received and approved by the May 2010 Synod.
Next up was Business Administrator, Rob Dickson assisted by diocesan Comptroller Mark Beley. They presented the 2010 Revised Budget and the 2011 Vision Budget to council for recommendation.
The gradual improvement in the investment income from the financial slump of 2008 will really help diocesan finances over the next two years and we will be expecting to show a manageable deficit each year thanks to carry-overs from recent budgets.
The financial predictions prepared by diocesan business staff included proposed budgets through the year 2014 and two or three years into the future is where we may have some cause for concern. By the year 2012 the carry-over of surplus runs out and the deficit budgets predicted for 2013 and 2014 will result in a shortfall. Council voted unanimously in favour of the motion that Diocesan Council approves the 2010 Revised Budget as presented and forwards it to Synod for information and review.