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York Minster Annual Report and Accounts 2022

9 Aug, 2023

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The Chapter of York, the governing body for York Minster, today published its Annual Report and Accounts for 2022.  The documents show continuing recovery in the cathedral’s post pandemic financial performance and a more optimistic outlook overall despite ongoing national and global economic turbulence.

The Accounts to the year ended 31 December 2022, record a net operating deficit (before investment valuation movements) of £329,000 compared to £805,000 in 2021 and £2.3 million in 2020, the first year of the pandemic. Income amounted to £9,738,000 (£7.1m in 2021) an increase of £2,638,000 on the previous year.

Visitor income increased by £1,766,000 to £3,878,000 (£2.1m in 2021). Retail income was up £611,000 to £1,337,000 (£726,000 in 2021).  Almost 621,000 people visited the Minster last year compared to 266,183 in 2021.

The return to normal levels of activity led to an increase in expenditure on raising funds of £724,000 due to additional variable costs for the visitor and retail operations and additional costs incurred on investment property and repairs during the year.

Total expenditure on mission was £10,067,000 (£7.9m in 2021). The £2,119,000 increase included £661,000 on major repairs and restoration of the cathedral and its precincts and a significant rise in the cost of materials to £253,000.  Returning to pre-Covid levels of activity increased staff costs to £264,000 and there was £128,000 of expenditure on Minster maintenance costs.

Ministry costs increased by £503,000 including £232,000 on essential maintenance and repair of accommodation, a £195,000 increase in the cost of services, music and congregational costs of £100,000 and £26,000 of printing costs with the return to largely in-person services. There was also £27,000 of expenditure relating to the period of official mourning for the late Queen Elizabeth II.  However costs for education and outreach decreased by £44,000 due to the low level of school learning activities during the year.

The investment markets suffered in 2022 due to the wider impacts of Russia’s invasion of Ukraine.  As a result of this, Chapter recorded a net loss of £3,507,000 on equity investments (compared to a net gain of £3.2m in 2021).  Total net assets at the end of the year were £50,911,000 (£53.1m in 2021).

The Very Revd Dominic Barrington, Dean of York, said: “This is an impressive performance and a tribute to York Minster’s staff and volunteers who continued to deliver inspiring worship, outstanding music and a world class welcome for everyone who visited the cathedral. We are grateful to our local community, to our paying visitors and to our donors who returned to support the mission and ministry of York Minster in such large numbers.

“The deeply encouraging signs of economic recovery are due to Chapter’s careful oversight and stewardship of the Minster’s finances through those tough pandemic years.  Ongoing economic volatility and turbulence around the world will require continuing caution and discipline in our financial management.

“Emerging from the pandemic, life at York Minster quickly became full and busy once again. We made progress on delivery of the Neighbourhood Plan successfully securing planning consents for developments such as the Centre of Excellence and the Works and Technology Hub and installing solar panels on the roof of the new York Minster Refectory, an important step on our journey towards net zero.

“However in 2022, York Minster came into its own as the cathedral for the Northern Province of the Church of England and the seat of the Archbishop of York as we welcomed thousands of visitors firstly to celebrate the historic Platinum Jubilee and then to honour the remarkable life of Her Late Majesty Queen Elizabeth II. Designed and carved by stonemason Richard Bossons, the unveiling, last November, of her statue by her son, His Majesty King Charles III, marked the end of a historic and momentous year.”

For a full version of the accounts, please click here.

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