Financial Fundamentals May 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.

We are covering our bills and paying our Apportionments through March. That is great, thought we haven’t yet started to set aside our funds as budgeted for future maintenance. As you most likely know, our current most significant financial challenges are the boiler and roof. The boiler repairs are complete and paid for including a separate HVAC leakage in one of our HVAC chillers that apparently occurred during a winter freeze.

Regarding the roof. We are making positive progress! We have received a loan commitment letter from the Virginia United Methodist Foundation Development Company. It is now in the hands of the attorney for the final closing. That should be completed not long after you read this article. As soon after that as possible, the roofing contractor will begin work. In the meantime, we have removed the old, unhealthy trees in the Prayer Garden as a first step outside. All this is being made possible by you, our wonderful, generous congregation. Keep up your support and we will not only have the roof completed, but pay off our new loan in short order. Thank you!

Soon, if not already, you should receive your quarterly donation statements. Remember these statements are not a bill, but a way we are able to make sure we have our records correctly posted. Since this will be the first one for the new year, please check yours carefully to make sure we have accurately posted your annual pledge and giving to date. If you are expecting a statement and are missing yours or have any questions, let us know promptly.

Always talk with your tax and/or financial advisor before taking any unfamiliar action, but remember that IRAs may be a positive way for supporting your church while potentially providing tax advantages for yourself. Also talk with Bill Bryan, our Finance Chair, about your plans. Donate in person, by mail, and, 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 which is 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 we do possible.
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 March 2025
Income For Planned Expenses1		$ 116,453
Total One Fund Expenses (excludes pass through2)	Planned	$ 149,106
	Actual	$ 122,439
Pass Through Income2		$ 78,055
Pass Through Expense2		$ 40,202
“Pay-It-Forward” Contributions		$ 6389
LUMENs Fund Raiser Income		$ 25
LUMENs Fund Raiser Expense		$ 0
Roof Repair and Replacement Income		$ 64,189
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.