We’ve started the year in a reasonably good position, cash positive and not too far off of our budget. All numbers are as of the end of March.
Budget, Income, and Spending
Our income was $154,952, slightly below where we expected to be at this point in the year. Expenses were $149,105, slightly ahead of our projection for this point in the year. Overall, this means we had a net income of $5,847, a bit behind the net income we budgeted for so far.
Assets and Liabilities
Asset balances added up to $362,227. This does not include the money in our endowments and other investments. Total liabilities were $316,960. Overall, we had $45,267 in net assets, which included $5,847 in current year earnings and $39,420 in net income from previous years.
Our investments were down at the end of 2022 compared to their growth in the previous year. They currently stand at a reasonably healthy $2.8 million. The Investment Committee will meet shortly to review and rebalance the investments.