Synodical Conference Convention Proceedings St. Louis, Missouri — 1926, Page 35

Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52

der Ev.⸗Luth. Synodalkonferenz von Nordamerika. 1926. 35

Obedient to established custom, your Treasurer submits the above
report, which covers the last two fiscal years. It includes three months
of the incumbency of your former treasurer, Mr. E. Schuettner, who turned
over his office to the writer on October 1, 1924. For the sake of detail the
report has been set up in parallel columns, each recording the transactions
of a fiscal year. This arrangement makes comparisons readily possible.
The report of your Director of Missions touches on many items of cost;
hence such reference can be here omitted.

During the two years the receipts have been most gratifying and
encouraging. Nevertheless they have not been sufficient to meet the in-
creased cost of your fast-growing missions. You will note that in 1924–25
your receipts for missions were $121,716.80, while your disbursements were
$136,567.77, resulting in an operating loss of $14,850.97. During 1925–26
the corresponding figures were: Receipts, $135,514.23; disbursements,
$148,895.80; operating loss, $13,381.57. On June 30, 1926, our net deficit
in the Mission Fund was $25,659.25.

A rearrangement of our accounts makes comparison in “Disburse-
ments. 5. Mission Funds” somewhat difficult. We have tried to separate
operating costs from necessary overhead expenses. Hence you find “Ad-
ministration” expenses as a separate item, including all office salaries and
expenses, lawyers' and auditors' fees, traveling expenses of Board mem-
bers, etc. “Director of Missions” includes salary and traveling and in-
cidental expenses. “Superintendents” covers their salaries, traveling ex-
penses, and all other expenses. “Household” has been merged with “sundry
expenses,” which, in turn, are subdivided in great detail in the Treasurer's
office.

During the year 1925–26 the old standing custom of paying salaries
at the beginning of the month was abolished. All salaried employees are
now paid at the end of the month. This change entailed a temporary dis-
advantage for some, but it must work to the ultimate benefit of all.

Further, your Board considered it advantageous to carry its own fire
insurance, as our risks are relatively small and scattered. No more poli-
cies are being written. As an offset we have set up a reserve for insurance,
commencing with $500 for the last year. This amount will be increased
from year to year as existing policies lapse.

Investments in buildings and sites during the last two years totaled
$111,859.38, including $15,532.61, which passed through your Treasurer's
hands for the Chicago chapel. Receipts for buildings totaled $96,969.38,
including $14,959.25 for Chicago. A number of building operations author-
ized two years ago have not been carried out. On the other hand, several
buildings became necessary which had not been previously authorized. As
a result we now have expended $24,049.19, for which there are no corres-
ponding credits.

During the year 1924 the Missionstaube produced a direct revenue of
$581.94, while the Pioneer cost $690.91. During the year 1925 both oper-
ated at a loss, the Pioneer costing $1,659.76 and the Missionstaube $1,873.55,
a total of $3,533.31, which had to be paid out of mission funds.

This report is presented with the hope that it may be found both inter-
esting and instructive and that it may serve to guide you in your delib-
erations.                         Respectfully submitted,
July 31, 1926.                              Theo. W. Eckhart, Treasurer.

Certificate.

We have audited the books and accounts of the Board for Colored Mis-
sions of the Evangelical Lutheran Synodical Conference of North America
for the period covered in the foregoing report, and we hereby certify that
said report is in accordance with the books of the institution and, in our
opinion, is correct.             Jeff K. Stone and Company,
July 31, 1926.                           Certified Public Accountants.

of the Ev. Luth. Synodical Conference of North America. 1926. 35

[Printed in English.]

Obedient to established custom, your Treasurer submits the above
report, which covers the last two fiscal years. It includes three months
of the incumbency of your former treasurer, Mr. E. Schuettner, who turned
over his office to the writer on October 1, 1924. For the sake of detail the
report has been set up in parallel columns, each recording the transactions
of a fiscal year. This arrangement makes comparisons readily possible.
The report of your Director of Missions touches on many items of cost;
hence such reference can be here omitted.

During the two years the receipts have been most gratifying and
encouraging. Nevertheless they have not been sufficient to meet the in-
creased cost of your fast-growing missions. You will note that in 1924–25
your receipts for missions were $121,716.80, while your disbursements were
$136,567.77, resulting in an operating loss of $14,850.97. During 1925–26
the corresponding figures were: Receipts, $135,514.23; disbursements,
$148,895.80; operating loss, $13,381.57. On June 30, 1926, our net deficit
in the Mission Fund was $25,659.25.

A rearrangement of our accounts makes comparison in “Disburse-
ments. 5. Mission Funds” somewhat difficult. We have tried to separate
operating costs from necessary overhead expenses. Hence you find “Ad-
ministration” expenses as a separate item, including all office salaries and
expenses, lawyers' and auditors' fees, traveling expenses of Board mem-
bers, etc. “Director of Missions” includes salary and traveling and in-
cidental expenses. “Superintendents” covers their salaries, traveling ex-
penses, and all other expenses. “Household” has been merged with “sundry
expenses,” which, in turn, are subdivided in great detail in the Treasurer's
office.

During the year 1925–26 the old standing custom of paying salaries
at the beginning of the month was abolished. All salaried employees are
now paid at the end of the month. This change entailed a temporary dis-
advantage for some, but it must work to the ultimate benefit of all.

Further, your Board considered it advantageous to carry its own fire
insurance, as our risks are relatively small and scattered. No more poli-
cies are being written. As an offset we have set up a reserve for insurance,
commencing with $500 for the last year. This amount will be increased
from year to year as existing policies lapse.

Investments in buildings and sites during the last two years totaled
$111,859.38, including $15,532.61, which passed through your Treasurer's
hands for the Chicago chapel. Receipts for buildings totaled $96,969.38,
including $14,959.25 for Chicago. A number of building operations author-
ized two years ago have not been carried out. On the other hand, several
buildings became necessary which had not been previously authorized. As
a result we now have expended $24,049.19, for which there are no corres-
ponding credits.

During the year 1924 the Missionstaube produced a direct revenue of
$581.94, while the Pioneer cost $690.91. During the year 1925 both oper-
ated at a loss, the Pioneer costing $1,659.76 and the Missionstaube $1,873.55,
a total of $3,533.31, which had to be paid out of mission funds.

This report is presented with the hope that it may be found both inter-
esting and instructive and that it may serve to guide you in your delib-
erations.                         Respectfully submitted,
July 31, 1926.                              Theo. W. Eckhart, Treasurer.

Certificate.

We have audited the books and accounts of the Board for Colored Mis-
sions of the Evangelical Lutheran Synodical Conference of North America
for the period covered in the foregoing report, and we hereby certify that
said report is in accordance with the books of the institution and, in our
opinion, is correct.             Jeff K. Stone and Company,
July 31, 1926.                           Certified Public Accountants.