# LCMS Convention Proceedings_St. Louis Missouri_1953_S1023
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

254 SEMINARIES AND COLLEGES

of Committee 1 Synod resolved.
Resolution 38

€nce of the Board for Higher Educat;
of 25 per cent for a reserve to
area is unnecessarily high; anq
Wuerras, It

is desirable to accumula
tingency Repair Fund; and

Whereas, An accumulated reserve fund should be lim;
4 stipulated amount in order to avoid accumulating too much
money which is not Placed into the immediate Service of the

WHEREAS, The experi
shows that the estimate

Cover con.
tingencies in this

te a reserve in the Con.

Church; therefore be it

Resolved, That we accept the recommendations of the
for Higher Education to delete Paragraph ¢ of Section 6.145 in
the Handbook and wing wording be Substituted.
“In its budget, the: Board for Hi i i
a reserve for conti i
capital replacements. This fun
the total of the maintenance
budget for .all institutions,

d for Higher Educati
ther sections of the
tional institutions.

“e, Whenever accumulated funds exceed
allocati nai

manner prescribed for all o

on in the same
assigned to the educa

subsidy budget

255
SEMINARIES AND COLLEGES

t of
| Eve Ss 0 e ‘Os
n the most car eful estimate: n th Cc

are to be construc ted cannot take into acco unt

an ; therefore be it
~ in the price index; ’
<4 -change in

: t of the
roximately 3 per cen
unt of app
“That an amo

oO inaries during
" f buildings for our colleges and semimaries
«cost

art of the appro-
d made a. part o

: be added to an

ennlum