Financial Fundamentals February 2023

This report briefly addresses finances at FUMC Fox Hill. The latest weekly and year-to-date information is in the weekly bulletin available at the church or through the link on our web site.

Thanks to our wonderful supportive congregation, we were able to finish the year in a strong financial position. As anticipated, we paid all of our Conference and District Apportionments, paid all of our bills, and made our budgeted set-aside payments for the first time in several years. Not only have your donations been generous, but our work area chairs have been careful with their expenses. We cannot emphasize enough how important that support is and how much we appreciate it. Thank you, thank you!

Did you know your contributions to the General Fund (also called the One Fund) are meant to cover all the items in our annual budget (more accurately called the spending plan)? One of the Finance Staff jobs is to allocate available funds to the most pressing needs at any given time. We can only do that with gifts to the General Fund; donations to a specific budget line item can only be used for that line item. That is important because we could be short for routine, unglamorous expenses like utilities, insurance, and cleaning supplies. These, and other mundane items, actually constitute a significant portion of our budget. Hence, the reason we strongly suggest undesignated gifts.

We expect to mail your giving statement for 2022 by the end of January. When you receive yours; be sure to check it promptly and carefully, letting us know if you have any issues. Please don’t wait till you are ready to file your taxes before asking questions.

Thanks to everyone for being a supporter of First Fox Hill.

Please direct any concerns or questions about FUMC FH finances to our financial staff through the office or Bill Bryan, Finance Chair, at 757-851-0748 or by e-mail to billb-1111@cox.net.

Total One Fund Through December 2022
Income For Planned Expenses1		$ 549,488
Total One Fund Expenses (excludes pass through2)	Planned	$ 635,576
	Actual	$ 414,135
Pass Through Income2		$ 19,341
Pass Through Expense2		$ 39,353
“Pay-It-Forward” Contributions		$ 3,654
LUMENs Fund Raiser Income		$ 8,575
LUMENs Fund Raiser Expense		$ 380
1 Includes regular and memorial contributions, building use income, interest, etc. 2 This item represents funds contributed, but passed through to non-budget items, e.g., flowers, special mission programs, etc. [Some pass through income was received in 2021; paid 2022.]