The report of the Representative Church Body claims, 'The effects of the current economic downturn on the finances of the Representative Body present the Church of Ireland with one of the greatest challenges it has faced since Disestablishment'.

The very significant decreased value of the Balance Sheet in the Representative Body's Accounts for 2008 reflects the negative effect of major turmoil in the world's economies. The level of Representative Body funds employed has decreased in value by some 42% to EUR386m and the Revenue Account for 2008 shows a 12% fall in the surplus of income over expenditure.

Worrying as these figures are, they fail to reflect the true scale of the downward trend, as the impact on the Church's income only began to be evident towards the latter part of the year. In reality, the negative economic effect will continue to reduce income further throughout 2009 and beyond.

Amongst the proposals in this year's report include maintaining an unchanged Minimum Approved Stipend for clergy in 2010 and a 12% reduction in the level of allocations recommended for 2009 (from 2008 - EUR6,044,772 to 2009 - EUR5,300,557). Both resolutions were passed by General Synod.

Proposing the report of the Representative Church Body, Mr Sydney Gamble said, 'However disturbing the dramatic drop in the value of the funds, it is the sudden dramatic increasing loss of income which is more significant in the short to medium term'.

He added 'Whilst we face substantial challenges, we are also afforded opportunities to review what we do and determine if we can operate more effectively. We must examine if we can do things differently'.

Seconding the report, the Archbishop of Dublin, Most Rev Dr John Neill, said 'This is not a time for despair, but it is a time for realism, and asking what God may be saying in our present difficulties'.

The Archbishop added, 'If Disestablishment was seen as a virtual destruction of the Church, even by some of its members, today some might be tempted to see the financial situation in the same light.  I believe there is another way of looking at the situation.

Financial constraints mean that we must decide very clearly what work should continue to be funded from the centre. Financial constraints mean that we must resist the temptation to rush headlong after every new idea, scheme, project and apparently worthy cause', the Archbishop said.

The Bishop of Meath and Kildare, Most Reverend Dr Richard Clarke contributed to the ensuing discussion of the report, by saying, 'We should really put the General Synod at the bottom of any food chain. The function of select vestries, diocesan synods and councils is to serve parishes. We must move away from the top-down approach of GS telling parishes and dioceses what to do, and rather see the parish as the key'.

The contributions that following touched on a variety of issues, including accommodation for married couples where one partner is in theological training, socially responsible investment in munitions components and a reduction in claimed expenses.

The report was enriched by the contribution of Mrs Agnes Young (Connor), who told the clergy 'not to worry - the Lord will provide'.