2001 Accounts.

There is much to give thanks for financially in the last 12 months. The Fellowship accounts for the year, which now account for all the funds of the CMF Trust Ltd and the Fellowship show a surplus of just under £70,000 on income of just over £750,000. This improves on the surplus in 2000 of £25,000. We are immensely grateful to the Lord for the provision of our needs, and for this surplus during the current period of growth in CMF's activity.

The surplus has resulted from the very generous support of the membership, the response to the increase in subscription as from 1999, the income tax recovered under the new Gift Aid rules, and judicious control of costs. In addition the stock of books has also been drawn into the accounts for the first time, providing a one off increase in resources of £16,180.

1st Quarter accounts for 2002.

The Executive approved a balanced budget in February 2002, and the 1st quarter Management Accounts show a small deficit of £4,044. This indicates that the Fellowship's resources are quite finely balanced, and the financial pressures will remain as our activities develop.

Investments.

During the 1st quarter of 2002, the first of the original investments, held in the name of the Trust has been sold. During the 2nd quarter of 2002 this has been reinvested, following the newly formulated ethical policies agreed by the Executive, as part of a phased new investment programme.

Gift Aid.

A very great deal of progress has been made in the area of Gift Aid, with just under 3,000 completed Gift Aid Declarations received from members. This represents the majority of those who are in position to sign such a declaration, although there is some further progress to be made in this area. Thank you to everyone who has filled in a Gift Aid Declaration.

Giles Rawlinson (Chief Administrator), Audrey Pegler (Accountant), Morwen Dyer (Gift Aid).