# LCMS Convention Workbook_St. Louis Missouri_1983_S133 # Machine transcription, uncorrected — CHI Digital Archive (demonstration) ADMINISTRATION AND PROGRAM IMPLEMENTATION 133 Additions: Deposits 272,090 997,710 1,269,805 Investment in income 206,422 206,422 478,512 997,710 1,476,222 Deductions: Withdrawals 127,413 1,906,298 1,133,711 Incowe transferred to the Testricted fund 375,210 375,210 Forfeitures transferred to restricted fund 137,790 137,790 Other 7,410 7,410 647,823 1,006,298 1,654,121 Balance at end of year $1,597,691 $505,455 $2,103,146 -|3- NOTES TO FINANCIAL STATEMENTS--Cont inued THE LUTHERAN CHURCH - MISSOURI SYNOD NOTE K--NOTES PAYABLE, INTERFUND BORROWING AND INTEREST EXPENSE Notes payable at June 30, 1982 consisted of the following: 8-1/2% note payable to the Lutheran Church Extension Fund - Missouri Synod $3,296,699 Other notes payable to the Lutheran Church Extension Fund - Missouri Synod 935,784 Other 52,188 $4,284,671 In connection with the restructuring of the church extension program, units of investment in the Synod's Church Extension Reserves Fund were transferred, effective January 1, 1980, to the Lutheran Church Extension Fund - Missouri Synod in return for an 8-1/2% note payable. Principal and interest payments on the note are being made semi-annually in varying amounts according to an agreed schedule. The Board has authorized borrowing among funds in order to finance the operating deficit (undesignated operating fund), construction of the new International Center (plant fund) and for other needs. Interest is charged on these borrowings based on the current short-term rates at a leading St. Louis bank, or services are provided as compensation for the borrowing. A summary of interfund borrowing at June 30, 1982 is shown below. Due To Restricted Designated Due From Funds Funds Totals Undesignated operating fund $18,358,985 $884,923 $19,243,908 Plant fund 7,513,375 7,513,375 Custodial funds 577,552 577,552 $26,449,912 $884,923 $27,334,835 -14- NOTES TO FINANCIAL STATEMENTS~-Continued THE LUTHERAN CHURCH - MISSOURI SYNOD NOTE K--NOTES PAYABLE, INTERFUND BORROWING AND INTEREST EXPENSE~-Continued Total interest expense for the year ended June 30, 1982 was as follows: Paid to other funds: Restricted funds: Forward in Remembrance $2,309,851 Other 75,550 2,385,401 Paid to related entities: Lutheran Church Extension Fund - Missouri Synod: On temporary borrowing 14,069 On 8-1/2% note payable 339,02: Lutheran Church - Missouri Synod Foundation (endowment funds) 234,109 Synodical colleges and seminaries for funds on deposit 421, 887 1,009,086 Other 69,839 $3,464,326 Effective Juiy 1, 1982 the Board of the Directors of Synod upon recommendation of the Forward in Remembrance Coordinating Committee authorized loans from Forward In Remembrance funds to finance Synod's budget deficit on an interest free basis, subject to annual review. NOTE L=-CONTINGENCY As of September 30, 1978, all loan funds of the Synod were transferred to a newly organized corporation, the Lutheran Church Extension Fund - Missouri Synod (LCEF), as part of an overall plan to restructure all of the church extension activities of the Synod. Although, under the terms of the transfer, the LCEF is to make principal and interest payments on all outstanding notes and bonds, the Synod remains liable for certain notes and bonds payable in the amount of $1,886,000 at June 30, 1982, in the event the LCEF does not make such payments. -15- 4-05 © - Report of Synod’s Board of Directors I. Administration The Board of Directors met quarterly during the past biennium and also held a few additional meetings in connec- tion with other scheduled meetings. Immediately after the 1981 convention the board elected President Ralph Bohlmann as chairman and Gus Melde as vice-chairman. By Bylaw provision the Secretary of the Synod, Herbert Mueller, serves also as secretary of the Board of Directors. The board adopted the same internal committee structure as in several past biennia, with the following assignments: 1. Committee on Program and Project Evaluation: David H. Goertz, Ihno A. Janssen, William E. Ludwig, George H. Mohr, Robert C. Sauer. 2. Committee on General Administration and Personnel: Kenneth W. Behnken, Walter W. Kayser, Ervin R. Lemke, Gus Melde, Herbert Mueller, Harold M. Olsen. 3. Committee on Financial Management Policies: Eugene E. Fincke, Henry L. Koepchen, Lester W. Schultz, Edward S. Scott, Norman D. Sell. 4. Executive Committee: Ralph Bohlmann, Gus Melde, George Mohr, Herbert Mueller, Harold Olsen, Edward Scott, John Schuelke (advisory), Norman Sell (advisory). The board made, ratified, or concurred in, depending on specific Handbook requirements, other appointments which are reported in Appendix A. Since the 1981 convention the First Vice-President and the Treasurer are nonvoting members of the board. Although other Vice-Presidents are no longer advisory members of the board, the board invited them to attend the meetings as guests. II. 1981 Convention Resolutions The board took the following actions with respect to certain resolutions adopted by the 1981 synodical convention. A. Membership Conservation (Res. 1-06). While declining for lack of funds the request of the Board for Evangelism Services for a full-time executive for membership conservation, the board did approve an alternate “‘membership conservation project” developed by the Evangelism Department. B. Great Commission Convocation I] (Res. 1-08). The board authorized the Board for Evangelism Services to proceed with planning for the second convocation. C. Standing Committees (Res. 2-09 and 2-10). As instructed by the convention, the board approved the size of the new standing committees created during the synodical reorgani- zation. D. Personnel Matters (Res. 2-11). Practically all position descriptions were reviewed and approved during the past biennium. E. Bylaws of “Other Synodical Entities” (Res. 2-21A). By the time of the convention the review of these governing instruments should be completed. A few proposals to the convention may result from this review.