The accounts record a surplus of £6,300 [up from £1,700 in 2006] excluding the cost of the church repairs. Net income from The Trinity Centre and the nursery site contributed a little over £13,000 towards the work of the church. Unfortunately giving by church members has remained static during the year. A more worrying statistic is that approximately 40% of all giving is contributed by just three people, with four more giving a further 20%. This means that the PCC’s income is particularly vulnerable should any one of these generous donors move from St Luke’s.
The repairs to the church have substantially reduced the PCC's general reserves which now stand at a little under £60,000. The reduced balance and the projected reduction in interest rates means that the PCC can expect a considerable drop in its income from investments during 2008. The cost of heating and lighting continues to rise substantially above inflation and changes to tax rates during 2008 mean that income from Gift Aid contributions will drop from 28% to 25%. All these factors mean that the parish finances continue to be very finely balanced.