# LCMS Convention Proceedings_St. Louis Missouri_1950_S611
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

612 FINANCIAL MATTERS

[814]
Special Loan Department

In convention assembled at Camp Pioneer, Angola, N. Y.,
June 27—July 1, 1949, The Lutheran Church — Missouri Synod,
Eastern District, adopted the following overture:

Wuenreas, The Lutheran Church — Missouri Synod has various
funds and balances which are invested in Government Bonds and
other securities; and

Wuereas, Many congregations of our Synod are forced to
borrow money from secular sources in order to finance their build-
ing programs; therefore be it

Resolved, That the Eastern District memorialize Synod to
institute a Special Loan Department by which available funds can
be invested in member congregations; and be it further

Resolved, That Synod’s Board of Directors set up the necessary
rules and regulations governing such loans.

Marrin W. MuELLer, Secretary

[815]
Protect Congregations and Their Synod
from Financial Exploitation
Wuereas, The congregations of Synod individually cannot judge
the bookkeeping and auditing standards and practices of special
projects and unofficial intrasynodical collections; and
Wuereas, Too many such collections can work to the harm of
synodical, District, and congregational budgets; be it therefore
Resolved, That before any such collection or fund-raising
enterprise be initiated, the College of Presidents shall approve the
purpose and the financial goals, if the collection crosses District
lines, while the Visitors’ Conference of the District shall approve
similarly where the collection is to be held within one District;
and be it
Resolved, That in all cases of such collections the body granting
permission shall satisfy itself that the institution or organization
benefiting from the collection is using standardized financial systems
recommended by national organizations (e. g., a hospital those of
- the A.H.A., an orphanage or old folks’ home those of the Com-
munity Chest, a college or institution of higher learning those. of
accrediting associations); and be it
Resolved, That upon completion of the effort the report of the
examination by a certified public accountant accompany the finan-
cial reports furnished to the authorizing group; and be it

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