# LCMS Convention Proceedings_St. Louis Missouri_1953_S172
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

172 SEMINARIES AND COLLEGES

rience which industrial firms have had with the arrang
It is in effect, also, at some universities, and the same princ

basic to the G.I. contracts through which our Government m
it possible for young men to purchase housing.

The Board for Higher Education

to purchase existing housing under terms which do not me
profit and security demands of commercial mortgage finant#
and the Board ‘

Recommends, further, that similar arrangements be wo;
out in cases where Synod is compelled to purchase or build
campus housing for newly called faculty people who canno:
accommodated in available faculty housing.

Accounting System

Your Board is glad to report that the long process involvég
introducing the new accounting system at Synod’s college
seminaries is rapidly drawing to a close. It is our hope tha’
the end of this calendar year all of the institutions
operating under the new plan.
In this connection the Board gratefully acknowledges
services of Mr. Elmer Jagow, business manager of Conex
Teachers College at River Forest, and the ready co-operation w
it has received from the entire staff of Synod’s Fiscal.
There is every reason to believe that the Board is now in a p
to keep the accounting practices in harmony with the re
mendations of the National Commission on School Acco ut
and, at the same time, to supply Synod’s Fiscal Office wit]
necessary auditing information in whatever form that 1 ma
acceptable and useful to the staff involved.
Authorizations conveyed to the Board for Higher Edui

by the Milwaukee Convention have proved. to be most ti
It is now apparent that the new system adequately meet
standards of unit control as an administrative device, and ‘it
provides Synod, the colleges, and the accrediting associations
complete fiscal. information. The North Central examine
Synod’s Seward Concordia, in March of this year, rated the
and the Seward business administration exceptionally high i
report to the accrediting commission'so that the college ach:
one of its highest ratings in this.area. All audit procedures Tél
of course, the’sole and final responsibility of the Board. of Dir