BY REV. E. MACQUEEN.
THE various funds of the Church, for the year ended 31st March, 1935, show an increase in the Balances on hand as compared with the previous year. This increase is accounted for by the amount credited from legacies.
Sustentation Fund. The income to the Sustentation Fund to a large extent depends on what is contributed by the Congregations. The total received from all Presbyteries shows an increase on last year. While several congregations have come short of their last year’s figure, yet others have increased their contributions making in the aggregate an increase of £185 on the previous year. By having two more Ministers on our list and paying a bonus to each Missionary and also to Ministers,
*This Report was read for Rev. E. Macqueen by Mr. John Grant, General Treasurer.
accounts for the increase in expenditure, which amounts, in comparison with the previous year’s expenditure, to £896.
Home Mission Fund. The income to this Fund comes far short of its requirements and the balance transferred to the Sustentation Fund is £84 short of last year’s figure. This decrease is partly accounted for by the payment of £52 to the London Congregation having been charged against the Home Mission Fund instead of to the Sustentation Fund as formerly. This Fund also bears the burden of payment of the Insurance of Missionaries.
Aged and Infirm Ministers’ and Widows’ and Orphans’ Fund. The balance at credit to this Fund has now reached the sum of £2,621, an increase of £413 on last year. In addition to the sum of £25 from legacies, the sum of £301 18s. 11d has been credited, being the balance of the Bond held on the Kerr Street property, now fully paid.
College Fund. With £450 received from legacies, we have refunded the sum of £20 to Organisation Fund and made a payment of £30 to each of our Students, carrying forward a balance of £328 10s. 9d on hand.
General Building Fund. This Fund benefited to the extent of £92 3s. 10d from legacies which enabled the Committee to pay a dividend of 1/- per £ on claims sent in, amounting to £4,035 of debt on Church and Manse buildings, leaving on hand a balance of £58 2s. 4d to be carried forward.
Jewish and Foreign Missions’ Fund. The income to this Fund as compared with the previous year, apart from Legacies, shows a decrease of £264 and a decrease of £76 in expenditure. During the previous year we received the sum of £251 16s. 10d from the sale of Rev. N. Cameron’s Memoirs, which almost accounts for the decrease in income. The expenditure for the year ended 31st March, 1935, exceeds the ordinary income by £576 12s. 4d, while the balance on hand carried forward is increased by £449. The increase is accounted for by the sum of £1,025 being received from legacies.
Organisation Fund. The balance at credit of this Fund at 31st March, 1935, amounted to £108 10s. 10d and further payments, in connection with Deputies’ expenses, to come in from our Canadian Mission Stations, should place the fund in a position to refund whole or part of the loan of £100 transferred from the Sustentation Fund two years ago.
Colonial Mission Fund. Out of this Fund we paid the Rev. J. P. MacQueen’s expenses as Deputy to Australia (fare out and return), leaving a balance on hand carried forward of £18 17s. 5d. As will be seen from the Annual Abstract of Accounts, other payments to Mr. MacQueen were made out of the Organisation Fund, part of which we hope to recover.
Sundry South African Mission Funds. Apart from £10 11s. withdrawn from the Mission Car Fund, the other Funds may be considered inoperative during the past year.
Winnipeg Church Fund. With a balance of £4 5s. on hand from last year and donations received bringing the amount up to £20 a payment for that amount was made to Mr. P. Sinclair, Solicitor, Wick, in reduction of the loan to Winnipeg Church Building Fund.
Mackenzie Trust. In terms of the Will of the late Mr. John MacKenzie, Beuly, the sum of £500 was vested in Government Stock yielding an annual Income of £21 5s. 5d, of this sum £20 is paid annually to the Missionary at Beuly, the balance to be allowed to accumulate in the Trust Fund and refunded to the Sustentation Fund to cover shortage in the Interest for the period when Interest received was under 4 per cent.
Legacies. Legacies amounting to £4,664 18s. 2d were received during the year. The Legacy from the Executors of the late Mr. John MacKenzie was credited to the various Funds as directed by the last meeting of Synod. In addition a legacy of £100 received from the Executors of the late Mr. Kenneth MacIver, Strathpeffer, was placed to the credit of the Sustentation Fund and £25 to the Jewish and Foreign Mission Fund, being a legacy from the Executors of the late Mrs. Flora Martin, Oban.