Under charity regulations the Church accounts are in the form of Receipts and Payments. They are scrutinised and approved by Presbytery and then sent to OSCR (Office of the Scottish Charities Regulator) for final approval.
As presented they show aggregated totals which are not always easy for the casual readers to follow. On this page as in the Livingstones Herald I will show the accounts as they are in the individual funds held by the Church.
The Funds are:
General Fund
Income from offerings, organisations, gift aid and dividends. Expenses include Ministry and Mission, pulpit supply, utility costs, insurance and general maintenance.
Designated Fund
Income with no restrictions like Wednesday Service, Sunday Teas and Livingstone Players. Expenditure as and when requested by groups involved.
Restricted Fund
Income for specific purposes like Christian Aid, Harvest collection and Flower Fund. Expenses: only to specified groups.
Fabric Fund
Income from small donation standing orders and Joseph Little Trust dividends. Expenses: Non-routine fabric requirements.
Beneficiary Fund
Originally unrestricted legacies this now is a reserve fund showing investments in Church of Scotland Trust Funds. Income there is sufficient to balance our bank account. Expenditure: Only if we have a major expenditure.