Financial Fundamentals March 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.

We have started the year on solid financial ground and January was a quiet month. The numbers shown with this report reflect income was down slightly from average so we intentionally delayed payment of our January apportionments and maintenance set-asides until early February. They have now been paid and we are anticipating making our payments for February by month-end. Be sure to stay up to date on where you want to be in your support of First Fox Hill; we pay all our bills from your support of the General Fund. Thank you, thank you!

It is hard to believe it is nearly tax time. Donation statements for 2022 have been mailed – if you didn’t receive yours and/or you have any questions about it, please contact the church office promptly so we can address the issue.

And, while you are looking at your taxes, this is a good time to consider the possible impact of your gifts on your tax bill. If you are like many in the congregation who have an IRA Required Minimum Distribution (RMD), how you handle that distribution can make a notable difference in your subsequent tax obligations. Talk with your tax or financial professional and ask about the benefits of making a direct donation to First UMC Fox Hill as a Qualified Charitable Donation (QCD). Direct gifts of stocks which have appreciated in value can also save you on taxes. Be sure to talk with Bill Bryan, your finance chair, before taking any action.

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 January 2023
Income For Planned Expenses1		$ 38,092
Total One Fund Expenses (excludes pass through2)	Planned	$ 50,850
	Actual	$ 27,829
Pass Through Income2		$ 528
Pass Through Expense2		$ 420
“Pay-It-Forward” Contributions		$ 279
LUMENs Fund Raiser Income		$ 130
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.]