St George’s Chaplaincy Council met on Friday 22nd May. There were two critical issues to be discussed:
(1) Adoption of accounts for 2025 – Treasurer, Tris Congreve presented the 2025 year end accounts, explaining that we have been moving in a new direction since 2024 when the shortfall at the end of 2023 was reported to the AGM. This enabled us to achieve a small surplus for 2024 and a bigger one in 2025. While this is encouraging, he felt we needed to move faster if we are going to secure the Chaplaincy’s financial position for the long run, though it was encouraging to see some more recent donations that the Chaplaincy has received. The accounts were unanimously adopted.
(2) Sale of the Chaplaincy apartment – In line with Tris’ comments above, the Council has considered how to make our assets work harder for us, the biggest of which is the Chaplaincy apartment, which they felt could be sold and the income used to set up an endowment fund. As a result, the following motion was brought before today’s meeting:
“To formally agree the sale of the apartment located in Malaga at Paseo de Reding No 21 (formerly 13), Second floor, door D, for the amount of €550,000, to provide liquidity to the Church and create an Endowment Fund. Grant powers to Tristram Congreve and one other member of the legal representatives of the Chaplaincy to formalise this agreement as a public deed and to complete the sale”.
This motion was carried, and will now go forward to the AGM for final approval on May 31st.
The Council’s Finance & Funding Working Group has met with two potential investment houses and they will come forward with a proposal for the creation of an Endowment Fund at a future meeting.