2nd quarter accounts for 2003

The general response to the subscription increase has been very positive indeed and total income for the first six months of 2003 (£436,000) is £50,000 ahead of our budgeted £386,000 and £64,000 up on 2002. The total expenditure of £404,000 could not be closer to budget, even if we had massaged the figures, and leaves us with a healthy surplus of £32,000 for the year to date. We are especially grateful to Elaine Hutchison who joined our staff for six weeks over the summer to help us with the preparation of these accounts.

At a time when many charities are struggling, we are thankful for the very generous support of our members. Raising support regionally for student Staffworkers has proved a great success with about 20% of our income in the period coming in personal support for this vital work.

Relative to many other charities we own very few assets, and keep our investment cushion at a minimum meaning that we are never more than four or five months from 'going out of business' completely. So what comes in is spent in ministry. This keeps us efficient and accountable. But there is no room for complacency. The full £120 subscription still covers considerably less than half of what CMF spends annually and so we are heavily reliant on the extra giving of members over and above subscriptions for our continued activity.