# LCMS Convention Proceedings_St. Louis Missouri_1965_S121 # Machine transcription, uncorrected — CHI Digital Archive (demonstration) SYNODICAL ADMINISTRATION 121 2.85 Financial Duties a. Budget 1. The Board of Directors shall receive, review, and evaluate the budget of the boards and commissions of the Synod. 2. The Board of Directors, on the basis of this review, shall prepare annually a program of current work and capital projects for presentations to the Work Program Conference for its consideration and review. The budget- setting procedure specified elsewhere in these Bylaws shall then be followed. 3. The Board of Directors shall, within a budget period, direct the Council of Administrators, through the Executive Director, to modify previously approved plans where a nec-~ essary balancing of income and expenditure requires such budget modification. Such a directive should specify the amount of adjustment, but the manner in which such ad- justments will be made shall be determined by the agencies affected. 4, Prior approval of the Board of Directors shall be re- quired for all commitments which exceed a_synodical agency’s approved budgetary allocation. Interbudgetary transfers of current operating funds from one classification to another within the agency’s approved budget shall receive prior approval of the Controller. All funds held or received by a synodical agency shall be accounted for and shall be subject to budgetary control. b. Capital-Fund Borrowing Authority 1. The Board of Directors shall be empowered to au- thorize the synodical Treasurer to borrow capital funds after the board has determined the amounts and the condi- tions under which these capital funds shall be borrowed, for capital-fund outlay, for site acquisition, and for con- struction projects which are authorized by synodical con- ventions. 2. The Board of Directors and the responsible officers of the Synod are empowered to do all things necessary to effect such capital-fund borrowings if and when required, including the pledging of real and other property belonging to the Synod in order to secure loans to obtain the neces- sary funds. 3. The borrowed capital funds shall not be used for any operating expenditures and shall be subject to pro- vision for amortization. c. Special Offerings 1. The Board of Directors, in the event of need or un- usual circumstances, shall make recommendations to the Fiscal Review Commission regarding a special offering for synodical purposes. 2. The Board of Directors alone may authorize the solicitation of funds by any person, board, commission, agency, or corporation in the Synod at large and shall have the authority to regulate the collection of funds from congregations and the Synod at large beyond the confines of any one District in accordance with policies adopted by the delegate convention of the Synod. There shall be no such solicitation of funds by any person, board, commission, agency, or corporation without the approval of the Board of Directors, provided that nothing herein contained shall be construed to interfere with District or local financial under- takings where the collection of funds is confined to the District or a local area. 2.87 Property Duties a. The Board of Directors shall have charge of all the Synod’s real and personal property and shall hold and man- age such property in accordance with the instructions of the Synod. Title to all such property shall be taken in the name of the Synod under its corporate title except in cases where the property to be acquired is to be purchased for the use or benefit of a seminary or college which has been separately incorporated under the synodical resolution of 1935 or to which corporation its real estate holdings have been con- veyed with the necessary reversionary clause by authoriza- tion of the Synod. b. The Board of Directors shall, in accordance with the regulations of the Synod, authorize the purchase of property. c. The Board of Directors shall have final responsibility for the construction and location of new buildings and for major remodeling. As a board or through its representative it shall approve all plans for and the location of any build- ings erected on properties belonging to or controlled by the Synod. It is directly responsible for all legal aspects of such operations. d. The Board of Directors, at a time when it believes the best interests of the Synod will be served, shall authorize the initiation of specific projects relating to the establish- ment of new institutions, the relocation or disposition of old institutions or buildings, the erection of new buildings, extensive remodeling, or the purchase, lease, sale, or ex- change of property, except as restricted hereinafter. e. The Board of Directors shall be authorized and em- powered to sell, barter, exchange, or trade any property not adjacent to or a part of any of the Synod’s college or semi- nary properties which the Synod owns and which property in the opinion of the Board of Directors would be of no direct use or benefit to the Synod in the pursuit of its con- stitutional objectives, at such price or consideration and on such terms and conditions as in the opinion of the Board of Directors would best serve the interests of the Synod. In such cases the Board of Directors shall consult with the syn- odical agency which has an authorized interest in the property. f. The Board of Directors may erect or purchase the nec- essary residences for professors, missionaries, or synodical church workers, on recommendation of the responsible syn- odical agency, and may borrow the money to pay for them. The interest and principal shall be paid with the moneys which would ordinarily be expended for rentals. g. The Board of Directors in all cases of maintenance of property which is not under its direct management shall act after consultation with and on recommendation of the re- sponsible synodical agency. h. The Board of Directors shall require the maintenance of a current inventory of all property of the Synod. 2.89 Coordination and Supervision a. The Board of Directors shall require the Executive Director to expedite the execution of authorized plans. The Board of Directors, through the Executive Director, shall make sure that no division or department undertakes any activity which is not provided for in synodically adopted policies or budgets. b. The Board of Directors shall communicate with boards, commissions, and staff executives through the Executive Director. c. The Board of Directors shall make final determination in the event that conflicts develop in the plans and policies of two or more boards or commissions of the Synod. d. The Board of Directors shall require monthly and an- nual financial reports and statements from the Controller and from the Treasurer. It shall arrange for the publication and distribution of financial reports according to synodical regulations. e. The Board of Directors shall provide for audits to be made of all subsidized Districts, departments, boards, com- missions, and activities of the Synod. f. The Board of Directors shall report annually and as often as it may deem necessary in the official publications of the Synod on the work and on the needs of the Synod. g. The members of the Board of Directors shall attend each convention of the Synod. The Board shall submit to the delegates a comprehensive report with appropriate recom- mendations regarding the Synod’s work. 2.90 Miscellanea a. The Board of Directors shall provide adequate blanket fidelity bonds. The persons to be covered and the amount of the bonds shall be determined by the Board of Directors. The premiums shall be paid by the Synod. b. The Board of Directors shall be authorized to draw on the treasury of the Synod for its expenses. c. The Board of Directors shall be authorized to engage legal counsel and other professional or technical personnel for its guidance and for advice to the officers, boards, or commissions.