Welcome to the May 1998 On-Line edition of

St George's News

Waterlooville's Parish Magazine


I touched on the subject of Restricted Funds at the recent APCM and thought it might be interesting to give a fuller explanation. By definition a restricted fund is a fund which can only be spent on a specified purpose. For instance the appeal last year to purchase baptism and marriage booklets, profits from the sale of the organ music cassettes for the organ fund, the flower fund, the monthly retiring collections and indeed the weekly donations towards the Eucharistic Gifts of bread wine and candles are all examples of income designated as restricted funds. Donors instructions and appeals may be made orally or in writing and both are equally binding. Where money is raised in excess of that required for a particular purpose the surplus has to be retained for use on the same purpose which can create a real practical problem. The matter is due for discussion at the next PCC meeting and it is likely that in order to avoid problems, future appeals will need to state that any unused balance will be put to the general purposes of the PCC. Then the restriction only applies until the target figure has been met. Without your continuing generous donations St. George's could not function and the PCC intend to prevent any difficulties arising.

Now some recent extracts from my cash book. The PCC coffee morning at the Vicarage on 21st February raised £117 for general church funds and the St. George's Players have already donated £150 to the cost of the new wheelchair access ramp. (A restricted fund donation of course!). February's retiring collection amounted to £95.07 and March's £132.05 both for St. Mary's Axim to add to the £130 held over from 1997 and monies from 1998 Lent boxes. The organ fund still receives donations and we are now just £20 short of raising £6,000. Recent repairs to broken church windows cost £77.55, a Performing Rights Society licence to cover church activities £190.77 and the Church Hall valuation £329. The Church Hall has received £50 from the Wednesday coffee morning monies towards heat and light over the past 12 months. (A restricted donation - please note Andrew!)

And to finish on a gentle reminder please. Cheques for all church business should be made payable to PCC St. George's. Thank you.

written by Linda Wainwright, Honorary Treasurer

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page last updated 1 MAY 1998