Financially speaking, all is quiet at Advent – and that is a good thing. Through April of this year, cash inflows from pledges and special gifts essentially equal our cash outflows of $264,000. As a result, our General Reserve is just slightly better ($700 better) than where we started the year, and is about $79k. Our outflows so far this year include paying down $5,000 of our debt. Our forecast for the year is to finish at or slightly better than budget.
Gifts to restricted reserves of $30k so far this year have increased those reserves by net $9k.
The stock market as of 4/30 was also kind to us with our endowments up $53k since January 1. As I have shared with the Vestry and I suspect most of you also feel, don’t spend this yet…not sure what direction it will be going but very likely, it won’t stay flat.
Summer is coming and that means two things: pledge income slows (due to vacations) and budget season begins. We appreciate anything you can do to help us maintain a steady cash flow this summer (prepay pledges) and are open to your suggestions on our budget!
Stay safe and God bless.