Chapter met on Tuesday, 19 November 2024, to set the 2025 budget and discuss several key matters shaping the Cathedral’s future. The agenda included the Bishop’s Annual Meeting with Chapter, where Bishop Jonathan expressed gratitude to the outgoing COO, Richard, and outlined the Cathedral’s vital role in the Diocese. Chapter approved a new Conservation Management Plan and discussed ambitious Estate Masterplanning to renew the Cathedral precincts. Despite financial challenges, the agreed 2025 budget reflects a commitment to growth and mission-focused initiatives.

Bishop’s Annual meeting with Chapter

Under Cathedral Measurer 2021, there is now an annual meeting of Chapter with the Bishop. Bishop Jonathan took time to give thanks and pay tribute for the work of our COO as he prepares to leave office and then to giving an inspiring and challenging outline of the role the Cathedral currently plays in in the wider life of the Diocese and how we can do more.

Conservation Management Plan

Chapter agreed the new Conservation Management Plan updating the 2006 plan. This foundational document helps Chapter in its work to conserve (but not preserve) the Cathedral and its precincts for future generations and will assist as Chapter develops a new Masterplan for the Cathedral, Cathedral Green and Cathedral House (Estate Master Planning) over the next 12 months. The CMP may found on our downloads page.

Estate Masterplanning

Chapter is in the process of appointing a full-service consultancy to work with it on master planning and feasibility studies relates to the renewal of the Estate over the next 5-15 years. To manage this process Chapter has appointed a sub-committee to be chaired by Canon Nick, with Dean Anthony, the Chair of the Finance Committee, David King and Pippa Bostock from the Mary Rose Trust who will shortly become a member of Chapter after on-boarding has been completed. Chapter may appoint one other member from each to the Finance and Fabric Advisory Committee. The committee will be supported in its work by the new COO, the Head of Development and Fundraising, CP Robinson and the Cathedral Architect, Simon Ablett.

2025 Budget

Chapter agreed the budget for 2025 with revenue of £1,420,417 including legacy income and expenditure of £1,563,022 for a deficit of £142,611.

The deficit of £142,611 includes £88,000 in one off-costs such as support for the upcoming INEQE Safeguarding review, essential capital works to clergy housing and an upgrade of IT infrastructure. Without these one-off costs the current account deficit falls to £54,617 and the budget also carries a £25,000 contingency- so if that is not used then the deficit falls to £29,611.

Our COO Richard comments, ”I am grateful to the Finance Committee and Chapter for agreeing the 2025 budget. The economic environment both nationally and globally is challenging, but this budget shows the confidence that we can grow revenue to support missional activities rather than cut. 2025, like the previous five years I have helped to lead the Cathedral, will be challenging.

Our financial position while improving is not yet secure – Master planning will help that in future years as the core objective of the renewal of the Estate is the generating of new net revenue of £250,000. I was heartened by the continued support within Chapter for growth in our Events and Visitor Experience offer as the primary way to grow revenue in 2025, 2026, 2027 and beyond not just wait for possible revenue from the renewal of the Estate in five years’ time.

The fact is that Cathedral Finances cannot last until 2030 and the start of new revenue from the renewal of the Estate. Without this additional income from events and visitor experience continuing in 2025 and beyond, significant cuts would likely be required. Over my five years, we have increased grant and operational revenue, and I see no reason why that will not continue and gain momentum in 2025 and future years.”

Interim COO

Chapter discussed interim arrangements after Richard leaves on the 29th. The announcement of an experienced former Cathedral COO should be in the Notices next week. Richard has already begun briefing and handover with this person.