LCMS Convention Proceedings St. Louis, Missouri — 1965, Page 121

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SYNODICAL ADMINISTRATION 121

2.85 Financial Duties

a. Budget

1. The Board of Directors shall receive, review, and
evaluate the budget of the boards and commissions of the

Synod.

2. The Board of Directors, on the basis of this review,
shall prepare annually a program of current work and
capital projects for presentations to the Work Program
Conference for its consideration and review. The budget-
setting 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 Executive
Director, to modify previously approved plans where a nec-~
essary balancing of income and expenditure requires such
budget modification. Such a directive should specify the
amount of adjustment, but the manner in which such ad-
justments will be made shall be determined by the agencies
affected.

4, Prior approval of the Board of Directors shall be re-
quired 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 approval 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 au-
thorize the synodical Treasurer to borrow capital funds
after the board has determined the amounts and the condi-
tions under which these capital funds shall be borrowed,
for capital-fund outlay, for site acquisition, and for con-
struction projects which are authorized by synodical con-
ventions.

2. The Board of Directors and the responsible officers of
the Synod are empowered to do all things necessary to
effect such capital-fund borrowings if and when required,
including the pledging of real and other property belonging
to the Synod in order to secure loans to obtain the neces-
sary funds.

3. The borrowed capital funds shall not be used for
any operating expenditures and shall be subject to pro-
vision for amortization.

c. Special Offerings

1. The Board of Directors, in the event of need or un-
usual circumstances, shall make recommendations to the
Fiscal Review Commission regarding a special offering for
synodical purposes.

2. The Board of Directors alone may authorize the
solicitation of funds by any person, board, commission,
agency, or corporation in the Synod at large and shall
have the authority to regulate the collection of funds from
congregations and the Synod at large beyond the confines
of any one District in accordance with policies adopted by
the delegate convention of the Synod. There shall be no
such solicitation of funds by any person, board, commission,
agency, or corporation without the approval of the Board of
Directors, provided that nothing herein contained shall be
construed to interfere with District or local financial under-
takings where the collection of funds is confined to the
District or a local area.

2.87 Property Duties

a. The Board of Directors shall have charge of all the
Synod’s real and personal property and shall hold and man-
age such property in accordance with the instructions of the
Synod. Title to all such property shall be taken in the name
of the Synod under its corporate title except in cases where
the property to be acquired is to be purchased for the use
or benefit of a seminary or college which has been separately
incorporated under the synodical resolution of 1935 or to
which corporation its real estate holdings have been con-
veyed with the necessary reversionary clause by authoriza-
tion of the Synod.

b. The Board of Directors shall, in accordance with the
regulations of the Synod, authorize the purchase of property.

c. The Board of Directors shall have final responsibility
for the construction and location of new buildings and for
major remodeling. As a board or through its representative
it shall approve all plans for and the location of any build-
ings erected on properties belonging to or controlled by the
Synod. It is directly responsible for all legal aspects of
such operations.

d. The Board of Directors, at a time when it believes the
best interests of the Synod will be served, shall authorize
the initiation of specific projects relating to the establish-
ment of new institutions, the relocation or disposition of
old institutions or buildings, the erection of new buildings,
extensive remodeling, or the purchase, lease, sale, or ex-
change of property, except as restricted hereinafter.

e. The Board of Directors shall be authorized and em-
powered to sell, barter, exchange, or trade any property not
adjacent to or a part of any of the Synod’s college or semi-
nary properties which the Synod owns and which property
in the opinion of the Board of Directors would be of no
direct use or benefit to the Synod in the pursuit of its con-
stitutional objectives, at such price or consideration and on
such terms and conditions as in the opinion of the Board
of Directors would best serve the interests of the Synod. In
such cases the Board of Directors shall consult with the syn-
odical agency which has an authorized interest in the
property.

f. The Board of Directors may erect or purchase the nec-
essary residences for professors, missionaries, or synodical
church workers, on recommendation of the responsible syn-
odical agency, and may borrow the money to pay for them.
The interest and principal shall be paid with the moneys
which would ordinarily be expended for rentals.

g. The Board of Directors in all cases of maintenance of
property which is not under its direct management shall act
after consultation with and on recommendation of the re-
sponsible synodical agency.

h. The Board of Directors shall require the maintenance
of a current inventory of all property of the Synod.

2.89 Coordination and Supervision

a. The Board of Directors shall require the Executive
Director to expedite the execution of authorized plans. The
Board of Directors, through the Executive Director, shall
make sure that no division or department undertakes any
activity which is not provided for in synodically adopted
policies or budgets.

b. The Board of Directors shall communicate with boards,
commissions, and staff executives through the Executive
Director.

c. The Board of Directors shall make final determination
in the event that conflicts develop in the plans and policies
of two or more boards or commissions of the Synod.

d. The Board of Directors shall require monthly and an-
nual financial reports and statements from the Controller
and from the Treasurer. It shall arrange for the publication
and distribution of financial reports according to synodical
regulations.

e. The Board of Directors shall provide for audits to be
made of all subsidized Districts, departments, boards, com-
missions, and activities of the Synod.

f. The Board of Directors shall report annually and as
often as it may deem necessary in the official publications of
the Synod on the work and on the needs of the Synod.

g. The members of the Board of Directors shall attend
each convention of the Synod. The Board shall submit to the
delegates a comprehensive report with appropriate recom-
mendations regarding the Synod’s work.

2.90 Miscellanea

a. The Board of Directors shall provide adequate blanket
fidelity bonds. The persons to be covered and the amount
of the bonds shall be determined by the Board of Directors.
The premiums shall be paid by the Synod.

b. The Board of Directors shall be authorized to draw on
the treasury of the Synod for its expenses.

c. The Board of Directors shall be authorized to engage
legal counsel and other professional or technical personnel
for its guidance and for advice to the officers, boards, or
commissions.