Financial Fundamentals May 2024

This report briefly addresses finances at FUMC Fox Hill. The latest information is in the weekly bulletin available at church or through our web site.

The first quarter of 2024 has been a financial challenge for First UMC Fox Hill. We urgently need your donations for the General (One) Fund to allow us to become current on our financial obligations. During the first quarter of 2024, both our number of donors and total undesignated income are comparable to 2023, but our expenses plus unmet obligations are up notably. These increases fall primarily in the area of insurance, copier expense, camps and conferences (youth support), education (Sunday school), salaries, and water/sewer/trash. These increases are roughly equivalent to, and have kept us from being able to cover, planned set-asides for future major maintenance and Apportionment obligations. Your contributions to the General Fund pay day-to-day bills (including Apportionments) and allow us to make possible the many activities of First Fox Hill.

What are Apportionments? The UMC is a connectional church with local churches working together to support the efforts of each other through a structure of Districts, Annual Conferences, and the General Church. One of the areas that Apportionments cover is the World Service Fund, an essential core of global outreach ministry, underwriting Christian mission around the world. By giving to World Service, we empower United Methodist evangelistic efforts … stimulating Bible study and spiritual commitment … encouraging church growth and discipleship … and helping God's children everywhere.

As we have just passed our annual tax filing season, this is a good time to keep in mind that a tax refund can be a good chance to improve your financial support for First Fox Hill. And, for those of us who are required to take a Required Minimum Distribution (RMD) from an IRA, having part of that sent directly to the church as a Qualified Charitable Donation (QCD) can provide you with a reduction in reported annual income (instead of an actual deduction). This applies even if you do not itemize deductions.

Whether or not you can regularly join us in person, on-line giving may be a way for you to simplify your support. You can make one-time donations and/or, recurring scheduled gifts. On the web, go to 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 use your camera to scan this QR code which you will regularly see in our publications and live stream. Thanks to everyone for supporting 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 March 2024
Income For Planned Expenses1		$ 116,244
Total One Fund Expenses (excludes pass through2)	Planned	$ 157,830
	Actual	$ 106,004
Pass Through Income2		$ 1,255
Pass Through Expense2		$ 1,080
“Pay-It-Forward” Contributions		$ 946
LUMENs Fund Raiser Income		$ 870
LUMENs Fund Raiser Expense		$ 0.00
1Includes regular and memorial contributions, building use income, interest, etc. 2Represents contributions for non-budget items, e.g., flowers, special mission programs, etc.