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Finance Committee
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Endowment Fund
The Finance Committee has prepared a proposal to establish an endowment fund which will accept gifts to First UMC, to be invested with the United Methodist Foundation of New England. The proposal will be considered at the Administrative Council meeting on Monday, February 23, 2009, at 7:30 pm - please join us to discuss the Endowment Fund. The following documents explain the details of the endowment fund:
2010 Budget
The 2010 budget was approved at the Charge Conference, held in January at First UMC.
| Income/Expense Category |
FY10 Budget |
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| Pledge Income |
$ 265,000.00 |
| Other Income |
125,500.00 |
| Total Income |
390,500.00 |
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| SPRC |
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| Salaries |
191,616.75 |
| Health Insurance |
17,491.25 |
| Employee Social Sec. |
9,021.40 |
| Utilities |
23,180.00 |
| Maintenance |
12,550.00 |
| Maintenance Contracts |
14,650.20 |
| Rental Property |
5,550.00 |
| Insurance - property |
7,431.00 |
| Insurance - workers' comp |
1,367.44 |
| Office Expense |
9,900.00 |
| Parsonage Expense |
7,374.00 |
| Outreach |
6,000.00 |
| Worship |
3,650.00 |
| Children & Family |
6,725.00 |
| Adult Studies |
1,000.00 |
| Evangelism/UMW |
1,000.00 |
| Stewardship |
1,000.00 |
| UMYF |
500.00 |
| Spiritual Life |
500.00 |
| Health & Welfare |
500.00 |
| Other |
5,006.56 |
| Conference Pension |
13,226.40 |
| Conference Apportionment |
46,260.00 |
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| TOTAL EXPENSE |
385,500.00 |
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| NET BALANCE |
$ 5,000.00 |
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| Other Income: |
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| Unpledged |
$ 69,000.00 |
| Loose plate |
10,000.00 |
| Holiday offering |
10,000.00 |
| Prior year pledges |
2,500.00 |
| Prepaid pledges |
5,000.00 |
| Preschool |
5,500.00 |
| Investment income |
6,000.00 |
| Building use |
2,400.00 |
| Property rental |
12,800.00 |
| Other |
2,300.00 |
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| Total Other Income |
$ 125,500.00 |
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Please direct your questions for First UMC's finance committee to Mike Sams, chair, via the church office. |
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