# LCMS Convention Workbook_St. Louis Missouri_1973_S393 # Machine transcription, uncorrected — CHI Digital Archive (demonstration) 380 STEWARDSHIP AND FINANCE LIABILITIES AND FUND BALANCE Accounts payable $ 39,870 $ 24,970 Overdraft in investment account 76,572 Fund balance — Reserve for future plan benefits ee 40,365,873 34,512,265 $40,405,743 $34,613,807 See notes to financial statements. STATEMENT OF REVENUES, EXPENSES, AND FUND BALANCE Concordia Retirement Plan Year Ended December 31 1972 1971 Revenues: Contributions: Controlled organizations $ 1,201,767 $ 853,175 Member congregations ——__ 3,833,820 2,654,211 Affiliated agencies _ 525,109 351,508 Other a 17,209 11,170 $ 5,577,905 $ 3,870,064 Interest income ee 911,900 874,385 Dividend income Se 493,473 461,921 $ 1,405,373 $ 1,336,306 Other ees 1,182 1,042 $ 6,984,460 $ 5,207,412 Expenses: Retirement benefits: Retirement payments 350,754 271,259 Disability payments 80,119 65,551 $ 430.873 $ 336,810 Loss on sale of investments — net __ 479,833 386,626 Administrative expenses 220,146 177,901 $ 1,130,852 $ 901,337 Excess of Revenues over Expenses ———— $ 5,853,608 $ 4,306,075 Fund balance at begining of year 34,512,265 30,206,190 Fund Balance at End of Year $40,365,873 $34,512,265 See notes to financial statements. STATEMENT OF CHANGES IN FINANCIAL POSITION Concordia Retirement Plan Year Ended December 31 19723 1971 Increases in cash resulted from: Excess of revenues over expenses . $ 5,853,608 $ 4,306,075 Add (deduct) expenses (income) not requiring outlay of operat- ing funds: Loss on investments sold __ 479,833 386,626 Amortization of bond dis- count and premium __ ( 8,332) ( 31,142) Total from Operatn’s $ 6,325,109 $ 4,661,559 Proceeds from investments sold or redeemed —_ 12,223,261 9,749,542 Overdraft in investment account _ — 76,572 Other increases — net —____ 25,491 55,547 $18,573,861 $14,543,220 Decreases in cash resulted from: Increase in contributions receivable 444,520 69,347 Cost of investments purchased ___ 18,035,447 14,478,239 Repayment of overdraft in invest- ment account 76,572 —- $18,556,539 $14,547,586 Increase (Decrease) Cash $ 17,322 ($ 4,366) See notes to financial statements. BALANCE SHEET Coneordia Welfare Plan ASSETS December 31 1972 1971 Cash: Demand deposits $ 137,032 $ 17,613 Investment account 10,572 4,680 $ 147,604 $ 22,293 Amount due from insurance comnany — Note B 157.639 133,494 Contributions receivable 22,270 10,357 Investments — at amortized cost (approximate market value -— $9,294,058 in 1972 and $8,967,112 in 1971): Bonds, notes and debentures 3,349,488 4,119,556 Common stocks ———__ 4,731,576 4,041,904 Preferred stocks SSCS 120,933 171,843 $8,201,997 $8,333,303 Accrued interest and dividends 63,016 78,947 Prepaid expenses and sundry receivables _ 370 747 $8,592,896 $8,579,141 LIABILITIES AND FUND BALANCE Accounts payable and deferred income —~ $ 31,978 $ 24,825 Claims payable 130,000 302,000 Estimated liability for claims incurred but not reported 2,075,000 1,178,000 Reserve for non-contributory benefits — Note C 2,185,000 2,146,000 Fund balance — Reserve for future plan benefits 4,170,918 4,928,316 $8,592,896 $8,579,141 See notes to financial statements. STATEMENT OF REVENUES, EXPENSES, AND FUND BALANCE Concordia Welfare Plan Year Ended December 31 1972 1971 Revenues: Contributions: Controlled organizations $ 914.877 $ 849,693 Member congregations 3,944,274 3,661,321 Affiliated agencies 560,800 478,190 ther 211,490 179,122 $5,631,441 $5,168,326 Interest income 284,919 249,524 Dividend income 149,449 143,767 $ 434,368 $ 393,291 Gain on sale of investments — net 189,939 194,855 Other . 1,770 1,113 $6.257.518 $5.757,585 Expenses: Benefits: Health care 5.835.567 4.440.306 Disability 440.741 284,121 Death 6,814 2,683 $6,283,122 $4,727,110 Insurance premiums —_____ 296,886 309,514 Provision for non-contributory benefits — Note C 39,000 252,000 Administrative expenses 395,908 329,443 $7,014,916 $5,618.067 Excess (Deficiency) of Revenues over Expenses ($ 757,398) $ 139.518 Fund balance at beginning of year _____ 4,928,316 4,788,798 Fund Balance at End of Year __ $4,170,918 $4,928,316 See notes to financial statements.