The Board of Governors of the Church Commissioners and the Archbishops’ Council each agreed, last August, to make available to the Lambeth Conference Company up to \u00c2\u00a3600,000 as required to enable the Company to honour its commitments while fundraising efforts continued. Both bodies regarded these amounts as interest free loan facilities. Of the \u00c2\u00a3388,000 actually borrowed by the Company, \u00c2\u00a3124,000 has now been repaid, leaving \u00c2\u00a3132,000 owing to each organisation as fundraising continues.<\/p>\n
By the end of 2008, the review reports, the projected deficit had reduced from an estimate of over \u00c2\u00a31 million in August 2008 to \u00c2\u00a3288,000, in part as a result of further fundraising efforts and in part due to actual costs proving lower than had been cautiously projected earlier in the year. The total cost of the event was \u00c2\u00a35.2million, as against the budget of \u00c2\u00a36.1million.<\/p>\n