# LCMS Convention Workbook_St. Louis Missouri_1975_S153
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

ADMINISTRATION 153

Exhibit D-1, “Balance Sheet Trust Funds.’’ There are
three separate funds in this balance sheet: (1) LLL Endowment
Fund, (2) Bequest Funds, and (3) Other Trust Funds. These will
be dealt with in the report of the Board of Trustees found else-
where in this Stewardship and Finance section.

Exhibit D-2, “Statement of Undistributed Income -— Trust
Funds,” details the changes in the Undistributed Income
accounts in the three funds named above.

Exhibit D-3, “Statement of Changes in Fund Balances—
Trust Funds.” This statement details all the activities in each
of the units of the three trust funds of the Synod for the year
ended Jan. 31, 1975, and compares the total of such activities
in the three funds with that of the previous year.

The Pension Fund for Pastors and Teachers has been
changed so that its operations conform to the calendar year in
1974. There follows, therefore, in order, an Accountants’ Report,
Exhibit E-1 Balance Sheet, E-2 Statement of Income, E-3 State-
ment of Changes in Fund Balances, and Notes to Financial
Statements.

This completes the certified statements of Ernst & Ernst.

Exhibit F, “Current Operating Expense Report 1965-74
and Budget 1975,” is a comparative statement that has been
in convention workbooks in its present form beginning with
the Detroit convention in 1965. It is a 10-year historical review
of budget expenditures since 1965 compared with the current
1975 budget.

Exhibits G-1, G-2, and G-3 all deal with the General Church
Extension Fund of the Synod and present respectively a 10-year
comparative Balance Sheet, an Analysis of Notes Receivable
and Payable, and an Income and Expense statement. These
exhibits first appeared in 1967 at New York. The comparative
balance sheet, Exhibit A-1, indicates a healthy growth in these
funds as well as some interesting trends especially in the General
Fund. Exhibit G-2, the Analysis of Notes Receivable, also
presents an interesting study, and Exhibit G-3, Comparative

Statement of Income and Expense, shows a satisfactory opera-
tion in each of the 10 years.

Exhibit H, “Summary of Operations— Year Ended June 30,
1974 — Synodical Colleges and Seminaries,” provides (1) a detail
of the elements of operating income and expense by school and
(2) a cost-per-student analysis. This statement appeared for the
first time in the Workbook of the Denver convention, but it is
only a small sample of the comparative, analytical, and manage-
ment data that have been compiled for almost 20 years.

Exhibit I, ‘Detailed Statement of Current Income and
Expenditures —Synodical Districts, North America, 1974,” is
appearing for the third time in a convention workbook. How-
ever, it was possible during the early part of 1972 to provide
36 District offices with a comparative study of its own operation.
We trust that these management data will continue to assist the
individual District in planning its own operation and will result
in greater cooperation between Districts and between the Dis-
tricts and the advisory agencies in St. Louis.

Exhibit J, ‘“‘Capital Expenditures for Which Funds Were
Not Available, Jan. 31, 1974 and 1975." Some might prefer to
call this primarily a capital-debt statement, but the title chosen
precisely describes each of its elements.

The exhibit is divided into two parts. The first totals $3,707,350
at Jan. 31, 1974, and $2,790,000 at Jan. 31, 1975, and represents
disbursements for synodical purposes in each instance, for which
there was no specifically designated source of funds available.
The Synod itself therefore must generate funds for the purposes
indicated to repay the moneys borrowed at the time the cash
was originally disbursed. The only source of funds for the repay-
ment of the borrowed funds labeled A, B, and C has been the
annual operating budgets of Synod.

In summary, no funds have been borrowed from outside
agencies, but all capital debt has been financed by interfund
borrowing.

R. C. Rauscher, Controller

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ACCOUNTANTS '

Board of Directors

REPORT

The Lutheran Church - Missouri Synod

St. Louis, Missouri

We have examined the balance sheets
and Teachers of The Lutheran Church
31, 1974, and January 31, 1974, and
and changes in fund balance for the

of the Pension Plan for Pastors
- Missouri Synod as of December
the related statements of income
eleven months ended December 31,

1974, and vear ended January 31, 1974, Our examinations were made
in accordance with generally accepted auditing standards and, ac-
cordingly, included such tests of the accounting records and such
other auditing procedures as we considered necessary in the circum-
stances,

In our opinion, the financial statements referred to above present
fairly the financial position of the Pension Plan for Pastors and
Teachers of The Lutheran Church - Missouri Synod at December 31,
1974, and January 31, 1974, and the results of its sperations and
changes in fund balance for the eleven months endec December 31,

1974,and year ended January 31, 1974,

in conformity with generally

accepted accounting principles applied om a consistent basis

St. Louis, Missouri
March 26, 1975

init - Oonil