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Anglican Church of Canada Consolidated Trust Fund Financial Statements

http://archives.anglican.ca/en/permalink/official10607
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 11-18-06 [sic i.e. 11-06-18]
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 11-18-06 [sic i.e. 11-06-18]
Mover
Ms. Cynthia Haines-Turner
Seconder
Canon David P. Jones
Prologue
AUDITED FINANCIAL STATEMENTS #007-16-18-06 to 007-22-18-06
Chair of the Financial Management Committee (FMC), Mr. Robert Saffrey, and the Most. Rev. Colin Johnson, Chair of the Audit Committee, presented FMC’s report and the audited financial statements for The Anglican Church of Canada Resolution Corporation, The Anglican Church of Canada Consolidated Trust Fund, and the General Synod of The Anglican Church of Canada. Ms. Hanna Goschy, Treasurer and CFO, was on hand to address questions from Council. Highlights from the presentation included the following:
- Archbishop Johnson reviewed the process for the audited financial statements and reminded Council that they approved the appointment of Grant Thornton LLP as auditor for General Synod fiscal 2017 at their June 23-25, 2017 meeting (see document #004-01-17-11, page 12). FMC recommends reappointment of Grant Thornton LLP for General Synod fiscal 2018.
- The audited financial statements were reviewed in detail and Council had the opportunity to ask questions.
- The overall revenue for General Synod of The Anglican Church of Canada for 2017 was $11,938,059, which is a decrease of $449,487 from 2016. Overall expenses totaled $11,416,845, which is $1,245,961 less than 2016. The resulting surplus of core revenues over expenses was $521,214.
- The operating fund surplus (before transfers to reserves) is $1,519,736. While the total investment income was $998,523, realized and unrealized capital gains amounted to $729,057 and do not form part of the operating budget as they fluctuate from year to year based on financial market returns. The surplus was still $790,639 after factoring out these gains. Staff vacancies have been filled and as a result, it is expected that the 2018 actual expenditures will be in line with budget and it is not expected a significant surplus will be seen again in 2018.
- Proportional giving from dioceses was slightly higher than budgeted, but $70,000 lower than 2016. Council was reminded that proportional giving is the largest source of revenue for General Synod.
- The Investment Sub-Committee has reviewed investment performance, as well as the asset mix, ranges, and benchmark indices within the current Statement of Investment Policy. Overall performance for the year ended December 31, 2017 was 8.1% versus a benchmark of 7.2%.
Questions and comments were welcomed. Among the questions asked, Council members inquired about: how many dioceses are net contributors (twenty); whether the Anglican Fund for Healing and Reconciliation and the Ministry Investment Funds are part of the totals for internally designated net assets in the Consolidated Trust Fund (they are not); the difference between governance and administration (governance includes CoGS, boards, committees, councils, and Council of the North while administration includes salaries and benefits); and General Synod’s administrative cost (thirteen percent, a very low cost for not-for-profit organizations).
The following resolutions were placed before Council.
Refer to document # 007-18-18-06
Text
THAT the Council of General Synod approve the audited financial statements of The Anglican Church of Canada Consolidated Trust Fund for the fiscal year ending December 31, 2017.
ADOPTED #11-18-06 [sic i.e. 11-06-18]
Subjects
Anglican Church of Canada - Finance
Anglican Church of Canada. Consolidated Trust Fund
Less detail

Auditor’s Report and Financial Statements

http://archives.anglican.ca/en/permalink/official10626
Date
2016 July 7-12
Source
General Synod. Minutes
Record Type
Act 13
Date
2016 July 7-12
Source
General Synod. Minutes
Record Type
Act 13
Mover
The Most Rev. Colin Johnson
Seconder
Mr. Robert Dickson
Text
That this General Synod approve the audited Financial Statements of the Anglican Church of Canada Consolidated Trust Fund for the fiscal year ended as at December 31st, 2015.
CARRIED Act 13
Subjects
Anglican Church of Canada - Finance
Anglican Church of Canada. Consolidated Trust Fund
Less detail

FINANCIAL MANAGEMENT COMMITTEE #007-11-21-02 to 007-16-21-02 - Audited Financial Statements of The Anglican Church of Canada Consolidated Trust Fund

http://archives.anglican.ca/en/permalink/official10775
Date
2021 February 20
Source
Council of General Synod. Minutes
Record Type
Resolution 007-02-21
Date
2021 February 20
Source
Council of General Synod. Minutes
Record Type
Resolution 007-02-21
Mover
The Rev. Canon Paulette Bugden
Seconder
The Rev. Dr. Karen Egan
Text
Be it resolved: THAT the Council of General Synod approve the audited financial statements of The Anglican Church of Canada Consolidated Trust Fund for the year ended December 31, 2019. ADOPTED #CoGS 007-02-21
Subjects
Anglican Church of Canada - Finance
Anglican Church of Canada. Consolidated Trust Fund
Less detail