Exeter Diocesan Board of Finance

The financial affairs and assets of the Diocese of Exeter are managed through the Exeter Diocesan Board of Finance Limited, which was set up in 1922 as a company limited by guarantee and which is also registered as a charity.

How the Diocese is funded

The work of the diocese throughout all of its parishes and congregations is funded in a variety of ways.  The majority of its income is received from parishes through contributions to the Common Fund (just as the majority of its expenditure is on the direct costs of stipendiary parochial clergy). Income is also derived from investments, renting out houses not currently required by clergy, national funding and fund-raising/fee earning by diocesan staff.

Responsibilities of the Board of Finance

The principal responsibilities of the Board of Finance are:-
• The custody and management of funds and assets of the Diocese and the Exeter Diocesan Board of Education
• Advising Diocesan Synod on the financial aspects of its policies
• The preparation of an annual estimate of income and expenditure for the Diocese for approval by Diocesan Synod
• Advising on the action needed to raise the income necessary to finance expenditure
• The preparation of annual accounts
• Acting as employer in respect of Diocesan staff and liaising with the Central Church on the payment of stipends to clergy
• Acting as custodian trustee in respect of all parish property and parish endowment funds.

Structure

The Members of the Board of Finance are the members of the Diocesan Synod and the Directors are the current members of the Bishop’s Council and Standing Committee. Some of the detailed financial work is delegated to the Assets Group or to the Board’s Standing Committee.