ANNUAL REPORT STATUTORY SUPPLEMENT AND AUDITED ACCOUNTS FOR THE YEAR ENDED st 31 MARCH 2011 The Cathedral Church of the Holy Trinity, St Peter and St Paul, and of St Swithun in Winchester Annual Report Statutory Supplement and Audited Accounts 2010/11 Contents 1.1.1. Aims and Objectives ................................................................................................................................................................................... ................................................................................................ ......................................... 333 2.2.2. Chapter ReportsReports................................................................................................................................................................................................................... ................................................................................................ .................................................................................... ....... 444 2.1 The Dean ................................................................................................................................................................................ 4 2.2 Receiver General ................................................................................................................................................................ 5 2.3 Worship – The Precentor .............................................................................................................................................. 6 2.4 Education and Spirituality – The Chancellor ........................................................................................................ 7 3.3.3. Legal and administrative information ................................................................................................................................................................................... ......................................... 888 3.1 Legal name of the Cathedral ....................................................................................................................................... 8 3.2 Chapter Office .................................................................................................................................................................... 8 3.3 Chapter ................................................................................................................................................................................... 8 3.4 Officers of the Foundation .......................................................................................................................................... 8 3.5 Council .................................................................................................................................................................................... 8 3.6 College of Canons ............................................................................................................................................................. 9 3.7 Other key appointments ............................................................................................................................................. 10 3.8 Finance and Investment Advisory Committee ................................................................................................. 10 3.9 Fabric Advisory Committee ....................................................................................................................................... 10 3.10 Auditors ................................................................................................................................................................................ 10 3.11 Bankers and other professional advisers .............................................................................................................. 10 3.12 Volunteer Section Heads ...............................................................................................................................................11 4.4.4. Structure, governance and management ................................................................................................................................................................................... ......................... 121212 4.1 Governing Statute ........................................................................................................................................................... 12 4.2 Relationship with the Diocese of Winchester .................................................................................................. 12 4.3 Organisational structure – the corporate body ............................................................................................... 12 4.4 Organisational structure – other key committees and groups ................................................................ 12 4.5 Other organisations associated with the work of the Cathedral ............................................................. 13 4.6 Chapter appointments and training ........................................................................................................................ 13 4.7 Chapter responsibilities ................................................................................................................................................ 14 4.8 Clergy and senior staff changes ............................................................................................................................... 14 4.9 Investment powers ......................................................................................................................................................... 14 4.10 Public Benefit ..................................................................................................................................................................... 14 4.11 Risk .......................................................................................................................................................................................... 14 555.5 Financial Review ................................................................................................................................................................................... ................................................................................................ ................................................................................... ...... 151515 5.1 Reserves Policy ................................................................................................................................................................. 15 5.2 Investment Policy ............................................................................................................................................................ 15 5.3 Investment performance ............................................................................................................................................. 15 5.4 Cathedral maintenance plan ...................................................................................................................................... 16 5.5 Five-year trends ................................................................................................................................................................ 17 5.6 Commentary on the 2010/11 results ....................................................................................................................... 17 6.6.6. Audited Accounts ................................................................................................................................................................................... ................................................................................................ ............................................................................... ...... 191919 Statutory Supplement and Annual Accounts 2010/11 - Page 2 1.1.1. Aims and Objectives Vision Our Vision is to discover and live out the beauty of holiness. Mission Winchester Cathedral, dedicated to the Holy Trinity, seeks in its life to reflect the dynamic love of God revealed in Christ, through being both a servant of others in their journey of faith, and of the world in its search for meaning and inspiration, reconciliation and wholeness. Purpose To be a community of worship, witness and welcome with Benedictine priorities. To witness beyond the life of the Cathedral to the universal identity of the Church. To be a sign of the Kingdom to which God is calling through commitment to justice, the integrity of creation and healing of individuals and communities. To release and enable within a caring, learning environment, the gifts of all members of the Cathedral community (lay and ordained, staff, volunteers and members of the worshipping community). To work for collaboration, co-operation and effective communication at all levels of Cathedral life and beyond. To conserve and develop the beauty of the buildings, contents and estates within our care. To thrive and not just survive. Statutory Supplement and Annual Accounts 2010/11 - Page 3 2.2.2. Chapter Reports 2.12.12.1 The Dean When Jesus was being brought up in Nazareth a huge project was underway on the brow of a nearby hill to rebuild a city which boasted of the high culture of the Roman Empire. It was called Sepphoris. At Sepphoris there is a stunning mosaic, often called