133rd Synod of the Diocese of Niagara

Report of the Financial Advisory Committee

• Kirk Boyd from St Simons gave report - chair of committee.
• since 2000 we have seen growth in some parishes
• diocesan assessments have increased - which reflect increase of givings in parishes
• operating expense have increased by 5%
• line of credit has been decreased
• over 7 years we have accomplished quite a bit.
• Financial Statements are included in circular
• current assets have increased by 600,000
• more details of financial statements were given
• moved that audited financial statements be accepted - carried

Representative from KPMG - gave report. Statements were audited. The opinion of the auditors (according to Canadian auditing standards) - the financial statements represent fairly in all respects the financial position of the diocese.

Audited report accepted.

KPMG appointed as auditors for 2007

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