# LCMS Convention Proceedings_St. Louis Missouri_1938_S262
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

262 Financial Matters

vestment Committee and a Fiduciary Committee were appointed
by the Board, the former consisting of the Messrs. Louis H. Waltke,
Richard Waltke, R. H. Leonhardt, W. H. Schlueter, and Emil Harms,
the latter of Messrs. Richard Borrenpohl, Ewald Schuettner, and
Chas. J. Burde. When Mr. Borrenpohl resigned from the com-
mittee after serving the greater part of the term, the Board ap-
pointed Mr. L. Tirmenstein in his place. Much work was done
by special committees appointed from time to time.

The following paragraphs show how the Board has tried to
perform its duties according to the Handbook and to carry out the
specific instructions of the last convention of Synod.

A. Financial Matters

The Board of Directors is charged in the Handbook with the
general management and supervision of all business affairs of the
Synod. In the first part of our report we therefore refer to mat-
ters that are of a financial nature and are placed by Synod into
the hands of the Board.

1. The Budget. — The last Synod charged the Fiscal Confer-
ence, of which the Board of Directors is a part, “with the responsi-
bility of balancing Synod’s budget as nearly as may be reasonably
possible.” Accordingly the budget was carefully set up, and we
are glad to say that it could be slightly increased from year to year
to meet the requirements of our work in an amount which we
considered an attainable goal. The most necessary requirements
were met, and the deficit was reduced from $675,487.20 in the
beginning of 1985 to $614,687.19 at the close of 1937. For this we
are duly thankful to the Lord of the Church, who has made the
hearts of our people willing to maintain the work, though there
was little expansion. Since the deficit was caused by the fact that
some of our larger Districts fell far short of raising their appor-
tionment, it was our endeavor to help these brethren to follow
the leadership of other Districts and to produce better results
by following better methods. Therefore as much personal contact
as possible was maintained with the various Districts. Since the
liberality of Mr. Louis H. Waltke made it possible for all Visitors
of our Districts to attend the Fiscal Conference in River Forest
, in the fall of 1936, these important officials of Synod were given a
helpful insight into the finances of Synod and the making of the
budget. At the Fiscal Conference in 1937 another large group of
guests could be present as guests of Mr. Louis H. Waltke, namely,
the members of the District Centennial Committees. For details
as to finances we respectfully refer Synod to the annual reports of
our ‘Treasurer, particularly his triennial report submitted to this
convention. It is to be acknowledged that our members have been: