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Good Financial Performance

 

The Church Commissioners achieved a return of 19.1 per cent on their investments in 2005, according to their latest Annual Report & Accounts.

Bishop of Worcester

The Bishop of Worcester, with other Commissioners and staff, meet tenants on the York rural estate

Reedswood Retail Park, Walsall

 The Commissioners bought Reedswood Retail Park, Walsall, in 2005

 

Total return on investments has averaged 11 per cent in the past decade taking the Commissioners’ asset value to £4.9 billion.

“This significant out-performance over the last decade has produced £38 million more for the Church each year than if the investments had performed only at the industry average,” said Andreas Whittam Smith, First Church Estates Commissioner.

The Commissioners’ total expenditure in 2005 was £166.1 million (£163.8 million in 2004) with non-pensions expenditure – such as support for ministry within dioceses and of bishops and cathedrals – totalling £65.8 million, £2.2 million up on the previous year.

Significant support of £4.5 million was provided for the parish mission fund, taking contributions since it was started in 2002 to £15.1 million (see article on Parish Mission Fund).

Details of how the Church Commissioners support the Church of England’s ministry are set out in the Annual Report, which is available at:

www.cofe.anglican.org/about/churchcommissioners/annualreport

 

How the Commissioners spent £166 million

(last year’s figures in brackets)

£100.3 million (£100.2) million: clergy pensions based on service to 1998.

£31.5 million (£27.1 million): parish ministry, mainly towards clergy stipends.

£20.7 million (£18.5 million): bishops’ stipends, office and working costs and housing

£6.6 million (£6.1 million): cathedral clergy and grants (mainly staff salaries).

£7.0 million (£11.9 million): other support including admin/ restructuring, other Church bodies / church buildings.