Financial Fundamentals September 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.

As we enter the fall, we find the summer tapering of donations and the increasing costs of operations are putting us in a challenging financial situation. We most certainly thank all our faithful givers at First Fox Hill, but need everyone to step up to help us through a tight cash flow period.

We appreciate everyone who helped fund our Navajo Partnership this year. Your extra donations covered all the expenses. Thank you for your extra mile giving.

Budget time is upon us. Committee chairs are submitting their budget planning sheets for 2024 for the first draft of the “spending plan”. Those numbers will be reviewed beginning with the September 11 meeting, voted on at the October 9 meeting, and presented to the congregation at the late fall Charge Conference.

It is hard to believe we are already approaching the end of the year, but it is “just around the corner”. This is a great time to check your finances and plan your year-end giving. Do you still need to take a required distribution from your IRA? Consider a donation to First Fox Hill which can be a Qualified Charitable Donation that may provide tax benefits to you greater than a direct donation. Another option is donating appreciated stock. Always talk with your financial advisor and Bill Bryan, Finance Chair, before making either of these latter transactions.

Don’t forget, whether or not you are attending services in person, you can provide financial support to your church by simply going to our web page www.firstumcfoxhill.org, click on “Give”, and scroll down to the “Give Online” box. [If you are reading this online, click here for easy access.]

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 851-0748 or by e-mail to billb-1111@cox.net.

Total One Fund Through July 2023
Income For Planned Expenses1		$ 285,002
Total One Fund Expenses (excludes pass through2)	Planned	$ 357,700
	Actual	$ 277,150
Pass Through Income2		$4,108
Pass Through Expense2		$ 4,701
“Pay-It-Forward” Contributions		$ 1,907
LUMENs Fund Raiser Income		$ 3,390
LUMENs Fund Raiser Expense		$ 0
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 2022; paid 2023.]