What’s new in Advent finances? Last year, we paid our debt of $100k down to -0- and remain debt free as of this writing. We substantially drew down our cash reserves to accomplish this, since we were paying more interest than we were earning on our deposits. Our Endowments grew from market increases in our investments, but have since given back some of those gains in 2018.
The Congregation responded overwhelmingly to the matching gift program at the end of 2017. This should allow us to rebuild reserves in 2018, while moving offices to the Church building and converting the PCOC to a rental residence. The PCOC rental income will provide for mid- to long-term capital improvements to Church facilities.
There are exciting changes happening at Advent. We are blessed to have the necessary resources, strong leadership, and a committed Vestry.
If the question I asked at the beginning was not the one you have in mind, please feel free to ask it, or make any budget-related suggestions. Your input is always welcome and appreciated.