Financial Fundamentals February 2025

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.

WOW! We have had a whirlwind of financial issues for the past few months. First, as we expected, we ended 2024 with all of our financial operational obligations fulfilled including Apportionments, but not our planned set asides for future major maintenance.
Speaking of major maintenance, as most of you know, in early January we were hit with a complete failure of the boiler which provides heat for the majority of our building. But our wonderful congregation came through. In less than 48 hours of securing and announcing a repair proposal, you had contributed 75% of the nearly $40,000 needed and we expect to have the balance within a total of 10 days. Thank you, thank you!!!

And, during this time you have also made contributions to, and pledges for, the near complete replacement of our roof. You have again been generous in your support. We have submitted a grant proposal to the Mission Rivers District and are compiling loan applications for financial lending entities. As soon as we receive appropriate responses to those applications, the Trustees will finalize the funding plans so we can commence the project with an estimated price tag of $160,000.

By the time you get this, or shortly thereafter, we should have issued annual donation statements. These are not bills, but to verify accuracy. Please check them carefully; if you have any questions, contact the church office so we can address them. Be sure you don’t wait till the last minute when you may need the statements for tax purposes.
If you are one of us who are receiving IRA distributions, remember that is a good way to help First Fox Hill and potentially benefit secure financial benefits. The same goes for donations of stock which has appreciated in value since you acquired it. Talk with your financial/tax advisor and our Finance Chair, Bill Bryan before taking any action.
Remember, you can donate in person on Sunday, by getting your contribution to the office in person or by mail, and, of course, on-line through www.firstumcfoxhill.org. 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. Regular donations can make your gifts easier on everyone’s cash flow.

Your support, especially through the General Fund, makes everything possible. Thank you! Thank you!

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 December 2024
Income For Planned Expenses1		$526,433
Total One Fund Expenses (excludes pass through2)	Planned	$631,283
	Actual	$443,561
Pass Through Income2		$12,173
Pass Through Expense2		$11,191
“Pay-It-Forward” Contributions		$3,374
LUMENs Fund Raiser Income		$3,374
LUMENs Fund Raiser Expense		$0
1Includes regular and memorial contributions, building use income, interest, etc. 2Represents contributions for non-budget items, e.g., flowers, special mission programs, etc.