LCMS Convention Proceedings St. Louis, Missouri — 2007, Page 130

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130

RESOLUTIONS

the establishment of specific requirements for financial literacy for membership on audit committees; and
WHEREAS, The current structure with seven laypersons
with specialized capabilities no longer provides adequate
resources for the input and review needed from the board
members, especially in committee sessions where much
board work is accomplished and where the specialized capabilities are split between committees that meet concurrently. When board members’ schedules force them to miss
a meeting, multimillion-dollar benefit or investment decisions end up being made in committee sessions by possibly
only two members of the board; and
WHEREAS, Concordia Plan Services and Worker Benefit
Plans believe that adding more laypersons with specialized
benefit, investment, and finance/audit experience would
greatly enhance its board’s ability to function more effectively; and
WHEREAS, At its September 2006 meeting, a resolution
was adopted to request the 2007 LCMS convention to
amend paragraph 3.7.1.2 of the Bylaws to add three additional laypersons to the membership of the board, such
laypersons to be appointed by the Board of Directors of the
Synod (as are all other board members); and
WHEREAS, This change would necessitate amendments
to the LCMS Bylaws and various Concordia Plans and Pension Plan for Pastors and Teachers documents, a resolution
was proposed by the Board of Directors—Concordia Plan
Services and Board of Managers—Worker Benefit Plans to
obtain the support of the Board of Directors of the Synod
for the change; and
WHEREAS, The LCMS Board of Directors at its November 2006 meeting adopted a resolution supporting the
Board of Directors of Concordia Plan Services’ and the
Board of Managers of Worker Benefit Plans’ request to
have the 2007 LCMS convention amend paragraph 3.7.1.2
of the Bylaws by adding three additional laypersons to the
membership of the board, such laypersons to be appointed
by the Board of Directors of the Synod (as are all other
board members); therefore be it
Resolved, That the Synod in convention amend Bylaw
3.7.1.2 (3.7.1.3 upon adoption of Res. 4-06) of the Handbook
as follows:
PRESENT/PROPOSED WORDING
3.7.1.2 The Board of Managers Directors of Worker Benefit
PlansConcordia Plan Services and the Board of Trustees of
Concordia Plans shall consist of 10 13 voting members appointed by the Board of Directors of the Synod and the VicePresident–Finance—Treasurer of the Synod as a nonvoting
member. The 10 13 voting members shall include:
1. Two parish pastors
2. One teacher
3. Seven Ten laypersons, at least threefour of whom shall
be experienced in the design of employee benefit plans,
at least four of whom shall be and the others inexperienced in the management of benefit plan investments,
and at least one of whom shall have significant financial/audit experience.

Action: Adopted (4)
(The resolution was adopted as presented by the committee
without discussion [Yes: 1,121; No: 31].)

2007 Convention Proceedings

To Amend Bylaw 3.8.2.5.5 (i) (2)
re Financial Management
RESOLUTION 4-08
Overture 4-32 (CW, p. 202)
WHEREAS, Bylaw 3.8.2.5.5 (i) (2) is part of the list of the
responsibilities of the institutional boards of regents. The
bylaw reflects a period in the history of higher education in
which the Synod Treasurer provided all operational funds
for institutions of higher education from a pool of Synod
dollars. Tuition and gifts received at an institution were
transferred to the Synod treasury and drawn out as needed
to maintain the operation of the institution. Today, institutions of higher education are largely responsible for their
own financing of operations, either from tuition or donor
gifts. A line of credit supports their operations during the
months between tuition receipts. The amendment that follows places the responsibility for managing cash flow on the
institution; therefore be it
Resolved, That Bylaw 3.8.2.5.5 (i) (2) be amended to read
as follows:
PRESENT/PROPOSED WORDING
(2) Receiving of all gifts by deed, will, or otherwise made
to the seminary institution and delivering them to the VicePresident–Finance/Treasurer of the Synod or such other person as may be designated by the Board of Directors of The
Lutheran Church—Missouri Synod, unless precluded by law
or the terms of the gift. In such case, the board of regents shall
hold and administer managing the same, in accordance with
the terms of the instrument creating such gift and in accordance with the policies of the Board of Directors of The
Lutheran Church—Missouri Synod board of regents.

Action: Adopted (4)
(The resolution was adopted as presented by the committee
without discussion [Yes: 1,093; No: 52].)

To Provide Financial Support and Adopt
Funding Model for Seminaries
RESOLUTION 4-09A
Overtures 4-04, 4-12–17 (CW, pp. 191–192, 195–96)
WHEREAS, Holy Scripture tells us that among the gifts
that God has given to His Church is the gift of “pastors and
teachers” (Eph. 4:11); and
WHEREAS, The support of seminaries for the recruitment
and preparation of pastors is a key objective of The
Lutheran Church—Missouri Synod according to Art. III of
the Constitution; and
WHEREAS, The Synod has understood the wisdom of providing support for these seminaries so that their energies
may be properly focused on the preparation of pastors, missionaries, and deaconesses with integrity and a strong
sense of service to the church; and
WHEREAS, God is blessing the efforts of the seminaries
to recruit and prepare more men to study for the Office of
the Holy Ministry; and
WHEREAS, The financial aid now needed challenges the
financial structures of our seminaries, they being depen-