The key elements of the Church Commissioners' investment portfolio, as at 31 December 2007 are set out below. The 2006 levels are in brackets.
Investments, including fixed interest, UK and overseas equities: £3,601.6million (£3,349.9 million) Investment properties, including urban, let land, strategic land and global indirect property holdings: £1,598.0 million (£1,428.9 million); Other investments, including loans, short term deposits and cash: £441.2 million (£573.8 million).
Serving the Church
Details of how the Church Commissioners support the Church of England's ministry are set out in the Annual Report published today. It details the contribution that the Commissioners make to the ministry of each of the Church's 44 dioceses, in addition to their major role of funding all clergy pensions earned before 1998. This contribution includes supporting the ministry of bishops and cathedrals, as well as parish ministry particularly in poorer dioceses.
In 2007, the Church Commissioners continued to provide significant support to encourage the growth of the Church's existing ministries and new opportunities. Since it began in 2002, the parish mission fund has given dioceses extra resources for parish ministry totalling £24.2 million, including £4.6 million in 2007.
The Commissioners' total expenditure in 2007 was £177.8 million (£172.6 million in 2006). Total non-pensions expenditure, including support for ministry within dioceses and for the ministry of bishops and cathedrals, totalled £72.3 million in 2007 - an increase of £2.4 million on the previous year.
The main items of expenditure were (with 2006 figures in brackets):
£105.5 million (£102.7 million) for clergy pensions based on service before 1998
£32.9 million (£32.4 million) for parish ministry, primarily to less-resourced dioceses
£24.9 million (£24.5 million) for supporting bishops in their diocesan and national ministries
£6.8 million (£6.6 million) for stipends of cathedral clergy and grants to cathedrals, mainly for staff salaries
£7.7 million (£6.4 million) for other support including administration and restructuring costs, support for other Church bodies and church buildings
