Putting everything in one place is bad design. Everything should exist ONLY where it's needed. You should do as tg said. Really, how can someone with 360 posts have to ask how to declare a variable and pass an argument to a method? You know what to do because you have already declared variables and passed arguments before. You're just trying to read too much into something that is very simple. Just do EXACTLY what was posted, e.g.
vb.net Code:
Private Sub Start()
Dim f1 As New Font(FontFamily.GenericSansSerif, 10)
Dim f2 As New Font(FontFamily.GenericSerif, 12)
Me.One(f1)
Me.Two(f2)
f1.Dispose()
f2.Dispose()
End Sub
Private Sub One(ByVal f As Font)
'Use f here.
End Sub
Private Sub Two(ByVal f As Font)
'Use f here.
End Sub