# LCMS Convention Workbook_St. Louis Missouri_1973_S394
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

STEWARDSHIP AND FINANCE 381

STATEMENT OF CHANGES IN FINANCIAL POSITION
Concordia Welfare Plan

Year Ended December 31

1972 1971
Increases in cash resulted from:
Excess (deficiency) of revenues
over expenses —————_—___—_ ($ 757,398) $ 139,518
Add (deduct) expenses (income )
not requiring outlay of operat-
ing funds:
Amortization of bond dis-
count and premium — ( 21,484) ( 17,707)
Provision for claims incurred
but not reported 878,420 280,833
Provision for non-contribu-
tory benefits 39,000 252,000
Total from Operations $ 138,538 $ 654,644
Increase in claims payable — 302,000
Proceeds from investments sold
or redeemed ————_——_—_ 11,094,194 14,622,332
Refund from insurance company
of reserve for claims incurred
but not reported ————_—__——. 18,580 897,167
Decrease in premium refund due
from insurance company 146,701
Other increases — net ————_—_ 11,548 ( 30,798)
$11,262,860 $16,592,046
Decreases in cash resulted from:
Decrease in claims payable 172,000 —
Increase in premium refund due
from insurance company 24,145 —
Cost of investments purchased —— 10,941,404 16,634,776
$11,137,549 $16,634,776

Increase (Decrease)

in Cash 42,730)

$ 125,311 ($

See notes to financial statements.

BALANCE SHEET
Concordia Survivor Plan

ASSETS
December 31
1972 1972
Cash:
Demand deposits ——————___ $ 65,355 $ 108,163
Investment account ———————_—_——— 22,229 4,497
$ 87,584 $ 112,660
Amount due from insurance company ——

Note B 340,003 —
Contributions receivable ——H+!——- 701,057 984,586
Investments — amortized cost

(approximate market value $5,952,313

in 1972 and $4,748,247 in 1971):

Bonds, notes and debentures 3,655,890 4,741,554
Common stocks ——--~———— 2,125,829 —-
$5,781,719 $4,741,554

Accrued interest and dividends 27,937 29,188
Prepaid expenses and other assets 375 745

$6,938,675 $5,868,733

————

LIABILITIES AND FUND BALANCE

Accounts payable —W\———— $ 1,003 $ 795
‘Amount due to insurance company —
Note B — 64,952

Fund balance — Reserve for future

plan benefits ——————_— 6,937,672 5,802,986

$6,938,675 $5,868,733

See notes to financial statements.

STATEMENT OF REVENUES, EXPENSES, AND FUND
BALANCE

Concordia Survivor Plan
Year Ended December 31

1972 1971
Revenues:

Contributions:
Controlled organizations —————— 599,979 853,149
Member congregations ———--_——— 1,941,813 2,654,235
Affiliated agencies —————_——_——_ 229,085 351,508
Other ——————_—____—__ 8,040 11,170
$2,778,917 $3,870,062
Interest income ——————_— 207,298 193,715
Dividend income ————_—————_——_- 38,550 —

$ 245,848 § 193,715
Other income ——————-_—_ 896 882

$3,025,661 $4,064,659
Expenses:
Survivor benefits paid:
Member’s death prior to retirement 304,597 328,934
Member's death after retirement —— 7,106 ,
Member's death while disabled —— 10,021 11,173
$ 321,724 347,213

Insurance premiums ————-—___—— 1,514,145 1,470,006
Loss on sale of investments — net 3,085 —

‘Administrative expenses, ———————— 52,021 41,110
_

$1,890,975 $1,858,329

Excess of Revenues over Expen. $1,134,686 $2,206,330

Fund balance at beginning of year 5,802,986 3,596,656
Fund Balance at End of Year —. $6,937,672 $5,802,986

See notes to financial statements.

STATEMENT OF CHANGES IN FINANCIAL POSITION

Concordia Survivor Plan
Year Ended December 31

1972 1971
Increases in cash resulted from:
Excess of revenues over expenses - $ 1,134,686 $ 2,206,330
Add (deduct) expenses (income)
not requiring outlay of operat-
ing funds:
Loss on investments sold — 3,085 —_—
Amortization of bond
discount and premium — ( 14,974) ($ 2,767)
OO
Total from Operations $ 1,122,797 $ 2,203,563
Proceeds from investments sold or
redeemed 30,370,794 $17,316,122
Decrease in amount due from
insurance company ———-_—— — 553,731
Decrease in contributions
receivable ——————_-—_ 283,529 —
Other increases — net —_——_—-—— 1,829 ¢ 5,409)
$31,778,949 $20,068,007
Decreases in cash resulted from:
Cost of investments purchased —— 31,399,070 19,963,980
Increase in contributions
receivable ——————_—__—— — 69,348
Increase in amount due from
jnsurance company 404,955 —

——

$20,033,328
_—_

——__—

$31,804,025
—_——_——.

Increase (Decrease)

in Cash 34,679

25,076) $

———_—— _($

See notes to financial statements.

NOTES TO FINANCIAL STATEMENTS

Concordia Plans
December 31, 1972 and 1971

Note A — Organization and Accounting Policies

The Concordia Plans have been established for the ministers of
religion and lay workers of The Lutheran Church — Missouri Synod
and its controlled organizations. The Plans have been made avail-
able to member congregations and other affiliated organizations. All
of the contributions to the Survivor and Retirement Plans and not
less than one half of the contributions to the Welfare Plans are paid
by the employer organization.