Ely Diocesan Board of Finance

A key part of this role is managing the Ely Diocesan Board of Finance Limited (EDBF). This is a charitable company that provides a range of services to the Diocese as a whole. These services include:

• Asset management. EDBF works to maximise returns on the Diocese’s financial and land holdings.
• Parsonages. EDBF looks after the houses in which clergy live and rents out houses that are temporarily not needed.
• Finance. EDBF collects donations from parish churches (the “Ministry Share”) and pays clergy. EDBF is the key centre of financial planning for the Diocese as a whole.
• Vocations and training. EDBF employs staff who take care of those offering for ministry (lay or ordained) and ensure they are well-trained.
• Church buildings. While responsibilities for care of church buildings fall mainly on local churches, EDBF supports parishes to navigate the statutory permission process and otherwise to look after their churches.
• Mission support. EDBF staff support and train local churches to help them in mission.
• Governance. EDBF provides governance services to support the operations of the Diocesan Synod and the Bishop’s Council. (The membership of the Council and of the EDBF Board of Trustees are the same people, which facilitates cohesive planning.)

EDBF moved in April 2024 into a new, purpose-built office, Etheldreda House (pictured below), which offers modern facilities and a high-quality working environment. The office was designed in the expectation of hybrid working, with extensive facilities for video-conferencing and shared workspaces.

In 2024, EDBF’s income was £9.44m, while expenditure was £9.975 million (figures not yet audited). A small deficit in previous years has increased significantly in the last year, for a variety of reasons, and a recovery plan is under development. Ministry Share contributions from parishes raise around £6m each year, with additional income coming from investment returns (financial and glebe) and parish fees. Parishes have recently been able to pay 95% of the Ministry Share requested, which is a strong performance, but we are not complacent about this as a key financial risk. We recognise that the national church plans increasingly to focus financial support on poorer dioceses and this might have a significant effect on our budget.

While Ely is a financially stable Diocese, we currently face some challenges and also some new opportunities. Existing income is fully allocated, and yet our missional imperative demands we explore how to invest more in new projects. The Diocesan Secretary will lead engagement in national discussions on resource-sharing with other dioceses, and there is growing interest in sharing back-office functions. We see significant scope to help parishes grow their own income and therefore contribute more to support stipends and ministry across the Diocese.