# LCMS Convention Proceedings_St. Louis Missouri_1977_S142
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

142

RESOLUTIONS

a. Budgeting Procedure

1. The Board of Directors shall receive, review,
and evaluate the work program of the boards and
commissions of the Synod

2. The Board of Directors, on the basis of this
review, shall pepare for each biennium a program of
current work and capital projects for presentation to
the delegate convention for its consideration and
review. Upon action by the convention, the annual
budgeting 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 Administrative Officer of the Board of Directors,
to modify previously approved plans where a
necessary balancing of income and expenditure
requires such budget modification. Such a directive
should specify the amount of adjustment, but the
manner in which such adjustments will be made
shall be determined by the agencies affected.

4. Prior approval of the Board of Directors shall
be required 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 ap-
proval 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
authorize the synodical Treasurer to borrow capital
funds after the board has determined the amounts
and the conditions under which these capital funds
shall be borrowed, for capital-fund outlay, for site
acquisition, and for construction projects which are
authorized by synodical conventions.

2. The Board of Directors and the responsible

general ledgers, which may feasibly and convenient-
ly be maintained in a centralized Accounting
Department of the Synod; prepare checks for all
disbursements supported by approved vouchers for
signatures of the Treasurer; serve as custodian of
payroll and_ accounting records; and prepare,
publish, or disseminate in consultation with the
Treasurer financial statements and reports, in-
cluding regular fiscal reports to the Board of Direc-
tors.

(Note: The term “Accounting Department”
should be substituted for the term “Controller”
wherever it appears in the Bylaws.)

b. Budgeting Procedure

1. The Board of Directors shall establish and
prescribe uniform budgeting procedures in and for
all boards and commissions of the Synod and all its
institutions for all operations, including Church
Extension, Worker Benefit Plans, and all specific
funds, and through the Accounting Department
shall receive the budgets and work programs for
review and evaluation with representatives of the
appropriate boards and commissions.

2. The Board of Directors, on the basis of this
review, shall prepare for each biennium a program of
current work and capital projects for presentation to
the delegate convention for its consideration and
review. Upon action by the convention, the annual
budgeting procedure specified elsewhere in these
Bylaws shall then be followed.

3. (Same)

4. Prior approval of the Board of Directors shall
be required 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 ap-
proval of the Accounting Department. All funds held
or received by a synodical agency shall be accounted
for and shall be subject to budgetary control.

c. Audit Procedure

1. The Board of Directors shall assure itself that
audits are provided by internal auditors or indepen-
dent certified public accountants for all boards,
commissions, and agencies of the Synod and all its
institutions, and in all the synodical Districts, for all
operations, including Church Extension, Worker
Benefit Plans, and all specific funds, and through
the Internal Audit Department shall receive copies of
such audits.

2. The Board of Directors shall provide an
Internal Audit Department which shall, in accor-
dance with policies and procedures established by
the board, conduct or arrange for audits for the units
described in paragraph 1 above, all audits to be
conducted in accordance with generally accepted
auditing standards.

d. Capital-Fund Borrowing Authority
1. (Same)

2. (Same)