Financial Fundamentals October 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.
This is a difficult report to write. Our finances through the first eight months of 2024 have been challenging. For the most part, we have been covering our operating expenses, but with little to spare. As of the end of August, we are three months behind with our Apportionment payments and have not been able to set aside any of our planned savings for future major maintenance expenses. Those two categories total $28,138. We are still hoping to cover those expenses before year end.

Our annual budgeting process is currently under way and while we anticipate a bottom-line reduction in our spending plan, that doesn’t address current needs.

In addition, we will soon need to fund a major reroofing project for all of the church. It has been almost 23 years since much of our roof was installed during our building expansion. The roof on the rest of the building is older than anyone can remember. It all needs to be replaced as soon as possible. The project is in the bidding/estimating process. We would love to be able to fund it through a one-time campaign; details will follow soon.

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 Episcopal Fund. Bishops have always had a very special role in our church … elected and consecrated to speak to the church…and from the church. The apostle Paul called it "a noble task," but it is practical, too, since our bishops oversee and promote the church's spiritual and temporal interests as well.

Your support, especially through the General Fund, makes everything possible. Thank you! Thank you! Regular donations can make your gifts easier on everyone’s cash flow. 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 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 August 2024
Income For Planned Expenses1		$ 325,842
Total One Fund Expenses (excludes pass through2)	Planned	$ 420,880
	Actual	$ 322,927
Pass Through Income2		$ 3,507
Pass Through Expense2		$ 3,295
“Pay-It-Forward” Contributions		$ 2,393
LUMENs Fund Raiser Income		$ 1,035
LUMENs Fund Raiser Expense		$ 0
1 Includes regular and memorial contributions, building use income, interest, etc. 2 Represents contributions for non-budget items, e.g., flowers, special mission programs, etc.