1. Combine 1/4 cup chicken broth and flour in a small saucepan, stirring well with a whisk. Stir in remaining 3/4 cup chicken broth, shallots, and bay leaf; bring to a boil. Reduce heat; simmer 3 minutes or until slightly thickened, stirring constantly. Let stand 1 minute; discard bay leaf. Stir in parsley, cheese, and pepper, stirring until cheese melts.
Bring your cream cheese to room temperature before stirring it into the sauce—it blends more smoothly this way, without clumping or curdling.