# LCMS Convention Proceedings_St. Louis Missouri_1953_S184
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

184 SEMINARIES AND COLLEGES

in order to reduce the mandatory reserve, to clarify the pro
and to specify the administration of these funds, the Boa
Higher Education

Recommends that Paragraph c of Section 6.145 be delet
that the following be substituted as Paragraph ec: “In its bi
the Board for Higher Education shall include a reserve fo:
tingencies in repair, remodeling, and minor capital replaceiy
This fund shall approximate 15 per cent of the total incly
the budget for all institutions.

“d. If Synod has met its budget in any given year, thefm
remaining in this contingency repair fund at the close '
fiscal year shall be accumulated from-year to year as a rese
major remodeling or minor capital improvements. This fun
be administered by the Board for Higher Education in the?
manner prescribed for all other sections of the subsidy Ԥ
assigned to the educational institutions. ;

“e. Whenever accumulated funds exceed one third of the
allocation for maintenance and repair for a given fiscal yea
excess shall become a part of the regular allocation to instit
for maintenance and repair in the following year and shall x

to that extent, the amounts which must be drawn from the bua
funds of the fiscal year involved.”

THe Boarp ror HigHer Epu
HENRY GRUEBER, Chairman
O. P. Krerzmann, Secretary
Epcar BuENGcER

WALTER Gast

S. J. Rota

Martin E. StrieTer

Martin WALKER