Resources

Financial Update

Finances at Mid-Year

BRIEF SUMMARY
Revenue and Expenses – Just Fine	Investments – No Gains

Revenue and expenses detail: Over the first six months of 2010 revenues have more than covered our expenses and we have not had to use budgeted endowment dollars to make up any cash flow deficiencies. Revenue at mid-year totaled $206,572, up from $205,719 in the first half of 2009. On the expense side we’ve had $197,522 in year to date expenditures; well below the spending we saw in the first half of 2009.when expenditures totaled $216,235. The budget you approved this year was tighter than the budget in place in 2009 and the staff has done a fine job of operating our various ministries within it. The Finance Committee appreciates the financial support being maintained during a period when negative ripples in the national economic situation impact many of our families.

Investments detail: At mid-year the Standard & Poors 500 Index was down 7.57% year to date. The market has had a very bumpy ride during the first six months of 2010. And so has the church’s portfolio under management. As the chart below illustrates, our total investment portfolio on January 1, 2010 stood at $996,157. We experienced a 3.17% gain during the first quarter resulting in a $1,019,902 balance on March 31st after disbursements of $7,920. But market losses of $66,833 (6.6%) in the second quarter and additional quarterly disbursements of $7,920 have reduced our investment portfolio to $945,149 as of June 30, 2010. We have now experienced a market loss at mid-year of 3.53%. Stability has not returned to the U.S. economy and, as a result, most economists anticipate choppy waters for the bond and equity markets in the near term. Your Investment Committee is working closely with the Wisconsin United Methodist Foundation in the management of our portfolio during this uncertain time.

Jerry Whitburn – Chairman Finance Committee	Dick Rayborn – Chairman Trustees

Getting to Know the Staff

Andy White

Building Engineer

Question: How long has Andy been at First UMC? If you don’t know the answer, that’s OK – neither does Andy! He started working as custodian here sometime in the early 1990’s, after he got out of the service where he had been stationed in California. He missed Wisconsin, and came home. Pastor Will Bloy recruited Andy to join the staff.

But actually, Andy’s been here longer than that – he grew up here where his mom, Ramona White, ran the Sunday School. He met his wife, Linda, here in MYF (that’s what we called Methodist Youth Fellowship in the old days). His two daughters, Tanya and Haley, were baptized here, too. So it is almost safe to say that Andy has been here forever.

But when he’s not actually here in the building, stripping the floors, cleaning the bathroom, setting up chairs and tables (or outside it, mowing the lawns), Andy has a life! He loves NASCAR racing – you can tell by his hats. He likes camping, and recently built an indestructible fire pit in his yard, after burning out several flimsier portable models. Gotta love a guy who loves fire.