The Ely Diocesan Board of Finance (EDBF) is a company limited by guarantee (no. 142183) incorporated under the Companies Acts 2006 (section 1 of the Diocesan Boards of Finance Measure 1925). It is also a registered charity, (no. 245456), so is registered under the Charities Act 2011.
The individuals with responsibility for the general control and administration of a charity are known as its Trustees, thus the EDBF’s Board Members are both Directors and Trustees.
The EDBF is constituted by the Diocesan Synod and its memorandum and articles must provide (among other things) that the Diocesan Bishop is a Member and that the majority of the Members are Lay persons.
The EDBF aims to promote, facilitate and assist with the work and purposes of the Church of England, for the advancement of the Christian faith in the Diocese of Ely and elsewhere.
The EDBF has the following statutory responsibilities:
- the management of glebe property and investments to generate income to support the cost of stipends arising from the Church Property Measure 2018.
- the repair of benefice houses as the Diocesan Parsonage Board under the Repair of Benefice Buildings Measure 1972
- the management of investments and the custodian of assets relating to church schools under the Diocesan Board of Education Measure 2021
- the custodian of permanent endowment and real property assets relating to trusts held by Incumbents and Archdeacons and by Parochial Church Councils as Diocesan Authority under the Incumbents and Churchwardens (Trusts) Measure 1964 and the Parochial Church Councils (Powers) Measure 1956.
- To comply with the directions of the Board and Diocesan Synod when exercising its duties (Diocesan Board of Finance Measure 1925)
- To comply with the duties as a housing provider under the Ecclesiastical Offices (Terms of Service) Regulations 2009.
Other key activities include:
- The Ely Diocesan Board of Finance’s Directors and Trustees are responsible for the corporate governance of the Diocese. They set many of the targets and monitor progress in key Diocesan areas, notably those that support the Diocesan Strategy.
- The EDBF is an employer of staff, which include people that support parishes in matters of safeguarding, finance and church care.
- Staff are also employed to manage the training and development needs of clergy and lay people in the Diocese. They also help support parishes in the development and growth of Mission and Ministry in their local context.
- The EDBF is responsible for raising and disbursing money, specifically in the collection of ministry share, and facilitating the payment of clergy stipends.
Further Information
- Further company details can be found on the GOV.UK website here.
- The Charity Commision website also holds details regarding the EDBF which can be viewed here.
Sub-committees
Finance Committee
- The role of the Finance Committee is to draw up the annual accrual budget for the Standing Committee (the Bishop's Council) for approval by the Diocesan Synod.
- The committee monitors adherence to the budget throughout the year and sets out the allocation of ministry share to deaneries.
- It also acts as the Audit Committee for the diocese and oversees the work of the Houses committee and the Assets Committee.
Assets Committee
- The Assets Committee is the repository for the management and performance of the Board's investment portfolio (often referred to as the endowment), the Board's land holdings (often referred to as glebe).
- This includes the promotion of appropriate land sales.
Houses Committee
- The Houses Committee is responsible for the management of the Board's portfolio of residential property (formally referred to as 'parsonages').
- This includes the maintenance of the portfolio to nationally agreed standards, the provision of new housing to support clergy deployment and disposals where parsonages are no longer required.
- The committee also authorises the letting of vacant properties.
Deanery Liaison Group (DLG)
- Ely Diocesan Board of Finance contact: Lorraine Orbell, Head of Finance