Financial Fundamentals August 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.

Finances for the month of July brought us a slight improvement from June. We are covering our immediate bills. In addition, we are making slow progress on meeting our apportionment obligations and are now just 2 months behind, but with no maintenance set aside funds. With your continued help, we hope to catch up and work toward setting aside funds for future major maintenance.

We will soon be entering the annual budgeting process when our various committees and work areas will be projecting their planned expenditures for 2025. Our General Fund is what pays for nearly everything we do. Your contributions make our existence possible by paying utilities, salaries, administrative costs, and general maintenance as well as for our programs and ministries. Occasionally, we have special requests, but we try to cover our anticipated expenses through our annual budgeted spending plan.

Speaking of maintenance and special requests…. You may have heard that our roof, most of which was installed when our addition was built, has reached the end of its practical life and needs significant repair/replacement. The Trustees and our Facility staff have been addressing that issue. You can anticipate hearing more details in the near future.

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 Apportionments cover is the Africa University Fund. This vital fund supports the only United Methodist-related, degree-granting university on the continent of Africa—serving students from 21 countries, all across the continent of Africa. Africa University provides higher education of excellent quality, enriched with Christian values, for both men and women, developing visionary leaders of tomorrow.

Thank you to all who help keep us financially viable. Your support is critical. Regular donations can make your gifts easier on everyone’s cash flow. Your support can make the difference. 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 the QR code regularly seen in our publications and live stream.

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

Total One Fund Through July 2024
Income For Planned Expenses1		$ 297,635
Total One Fund Expenses (excludes pass through2)	Planned	$ 368,270
	Actual	$ 288,513
Pass Through Income2		$ 3,397
Pass Through Expense2		$ 3,295
“Pay-It-Forward” Contributions		$ 2,196
LUMENs Fund Raiser Income		$ 1,010
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.