Financial Fundamentals October 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.

Donations have slipped after mid-year so we find our cash flow has been challenging. While we have kept up with our bills we have had to slightly delay our Apportionment payments and monthly major maintenance set-asides. We know that expenses for all of us have been increasing and that can be a challenge. We encourage everyone who can to help us maintain our financial stability. Thank you for your efforts.

The annual budgeting process for 2024 continues. The second draft will be voted on at the October 9 meeting, and presented to the congregation at the late fall Charge Conference.

Are you where you would like to be in your support of First Fox Hill? While regular giving throughout the year is important for managing cash flow, year-end giving is a chance to catch up and help us insure we cover all our expenses. If you need to take a required distribution from your IRA, a Qualified Charitable Donation to your church may provide a tax benefit without needing to itemize deductions. Always talk with your financial and/or tax advisor before making such a transaction.

Be sure to read the separate article about our updated on-line giving option. As noted, we love to see you in church where you can make your donation in person, but if that doesn’t work for you, on-line giving helps support your church. It is easy and can be setup for one-time or extra convenient regular donations on a variety of schedules. Simply go 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. Or, if you prefer, use your camera and scan this QR code.

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.