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Finance Newsletter

Computer System

This is the second time I have written this newsletter. My first collation is sitting on the computer server and is currently not accessible. We are experiencing major problems with our Dell server. This machine has performed well for many years but it is at the end of its life. We have been nursing it along by replacing key parts to make it last a few more months until we put in a new system in July. It is now uneconomic to replace the latest part to fail.

At the moment we have no systems and are unsure of when they will be available. If you need to contact this office urgently you should use either the phone or fax.

Amalgamated investment Fund

The interest rate being paid in March is 6.75%.

Ministers Mortgages

The interest being charged for March is 7.35%.

Seniority Allowance

Seniority allowance was paid to eligible ministers in early March. Ministers receiving the allowance have been sent a pay slip showing details of their payment.

Ministers who have not received advice of payment and feel they qualify for the allowance should contact Margaret Fawcett on (04) 381 8291. If you have received a payment advice but the money has not appeared in your bank account you should also contact Margaret.

Seniority Allowance Levy

Ram Ayyr

I am pleased to announce that Mr Ram Ayyr has been appointed to the role of Accountant in the Assembly Office. Ram has been working in the office as a contractor so is familiar with our systems and operations.

Ram comes to us from an international commodities trader based in Bangkok where he was Finance Manager. I am sure you will all make Ram feel welcome.

Single Assessment

The proposal for a single assessment has received a mixed reception. While some find its simplicity attractive others are concerned that it may place undue financial pressure on struggling parishes.

Responses to the questionnaire on the proposal are due on the 14th of this month. If your decision is to reject the proposal we would appreciate receiving feedback on any alternative solution you may have. We don't claim a monopoly of good ideas.

The Council of Assembly will be considering submissions at their March meeting and making a decision on the future of the single assessment.

2003/04 Assembly Budget

The draft budget for the Assembly Office for 2003/04 was considered by the Administration and Finance policy group at its meeting at the beginning of March. The budget is for a deficit even after costs have been trimmed.

The Council of Assembly will consider the budget at their March meeting. It approved we will be able to advise parishes early in April of Assembly Office charges early in April. If we are required to rework the numbers then the information will come later. I will update the situation in my next newsletter.

Geoffrey Bell
Manager, Financial Services