Synodical Conference Convention Proceedings St. Louis, Missouri — 1928, Page 59

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der Ev.⸗Luth. Synodalkonferenz von Nordamerika. 1928. 59

Credited to —
African Missions              $ 133.50
Colored Missions              192,048.59
Colored Missions — Buildings  32,036.71
Indigent Students             967.50
                                          $225,186.30

1. Your Treasurer respectfully submits the report that is required
of him covering the two fiscal years 1926—1927 and 1927—1928. The
present report differs radically from those that have preceded it. The
changes made have been incorporated with a view to making it more
readily understood.

2. In Exhibit A you will find the balances as of July 1, 1926, the net
changes in these accounts and the balances as of June 30, 1928. Exhibits
B to E supply the essential details.

3. The outstanding feature in the balance sheet (Exhibit A) is the
fact that a debt of over $25,000 in the Mission Fund has been converted
into a credit of nearly $6,000. This seeming improvement does not in-
dicate increased offerings as much as it reflects a change in our accounting
methods. Up to a year ago we received from the Missouri and Wisconsin
synods such moneys as were actually received by them for the work of Col-
ored Missions. Since then our work has been budgeted by both synods,
and they get a monthly statement showing the actual cost of the mission
for the month and the synods' respective apportionment of such cost. The
sums thus apportioned are credited to the Mission Fund and charged to
the respective synods. Hence you find that, as of June 30, 1928, about
$21,000 had been charged to the two synods in question, which sum had
been credited to the Mission Fund, but had not been paid in on that date.

The following may also be noted from Exhibit A: —

a. That “Bills Receivable” has been materially reduced. Two years
ago we had surplus building balances invested, which have since been
liquidated. Certain other items had to be charged off as uncollectable.

b. The jubilee book Half a Century of Lutheranism Among Our Col-
ored People thus far has returned less than one-third of its cost.

c. “African Missions” has a credit of $2,463.97.

d. “Bills Payable” includes only private loans. We owe our banks
nothing.

e. Our “Endowments and Legacies” have increased, but not very
materially.

4. Referring to Exhibit B, we find a statement of receipts and dis-
bursements covering the Mission Fund. The various titles are sufficiently
expressive and therefore require no explanation. “Sundries” (item No. 15)
constitutes an exception. This item includes the cost of the commissary,
medical, and athletic departments at our two colleges; church, school, and
Sunday-school supplies; pensions to several persons and the amount con-
tributed to the Missouri and Wisconsin synods for their respective support
treasuries.

5. Exhibit C records, in detail, the building receipts and disbursements
during the last two years. Twelve individual buildings, large and small,
were completed, and permanent improvements were made on others. On
the Atlanta contract we owe an additional $2,000, for which, under our
contract with the builder, we are to convey the title to the old property
we now own in Atlanta. A deed, executed by our Board, has been tendered
the contractor, but upon the advice of his counsel has not been accepted
by him, the claim being made that the Board as such cannot convey a mer-
chantable title. This matter must have the consideration of the Synodical
Conference as we are now in the unpleasant situation of having a lien filed
on our property in Atlanta.

6. The various items that make up our Building Fund balance are
given in Exhibit D. In Ackerville, building operations have been delayed
pending the purchase of a suitable site. Such a one has now been found,

of the Ev. Luth. Synodical Conference of North America. 1928. 59
[Printed in English.]

Credited to —
African Missions              $ 133.50
Colored Missions              192,048.59
Colored Missions — Buildings  32,036.71
Indigent Students             967.50
                                          $225,186.30

1. Your Treasurer respectfully submits the report that is required
of him covering the two fiscal years 1926—1927 and 1927—1928. The
present report differs radically from those that have preceded it. The
changes made have been incorporated with a view to making it more
readily understood.

2. In Exhibit A you will find the balances as of July 1, 1926, the net
changes in these accounts and the balances as of June 30, 1928. Exhibits
B to E supply the essential details.

3. The outstanding feature in the balance sheet (Exhibit A) is the
fact that a debt of over $25,000 in the Mission Fund has been converted
into a credit of nearly $6,000. This seeming improvement does not in-
dicate increased offerings as much as it reflects a change in our accounting
methods. Up to a year ago we received from the Missouri and Wisconsin
synods such moneys as were actually received by them for the work of Col-
ored Missions. Since then our work has been budgeted by both synods,
and they get a monthly statement showing the actual cost of the mission
for the month and the synods' respective apportionment of such cost. The
sums thus apportioned are credited to the Mission Fund and charged to
the respective synods. Hence you find that, as of June 30, 1928, about
$21,000 had been charged to the two synods in question, which sum had
been credited to the Mission Fund, but had not been paid in on that date.

The following may also be noted from Exhibit A: —

a. That “Bills Receivable” has been materially reduced. Two years
ago we had surplus building balances invested, which have since been
liquidated. Certain other items had to be charged off as uncollectable.

b. The jubilee book Half a Century of Lutheranism Among Our Col-
ored People thus far has returned less than one-third of its cost.

c. “African Missions” has a credit of $2,463.97.

d. “Bills Payable” includes only private loans. We owe our banks
nothing.

e. Our “Endowments and Legacies” have increased, but not very
materially.

4. Referring to Exhibit B, we find a statement of receipts and dis-
bursements covering the Mission Fund. The various titles are sufficiently
expressive and therefore require no explanation. “Sundries” (item No. 15)
constitutes an exception. This item includes the cost of the commissary,
medical, and athletic departments at our two colleges; church, school, and
Sunday-school supplies; pensions to several persons and the amount con-
tributed to the Missouri and Wisconsin synods for their respective support
treasuries.

5. Exhibit C records, in detail, the building receipts and disbursements
during the last two years. Twelve individual buildings, large and small,
were completed, and permanent improvements were made on others. On
the Atlanta contract we owe an additional $2,000, for which, under our
contract with the builder, we are to convey the title to the old property
we now own in Atlanta. A deed, executed by our Board, has been tendered
the contractor, but upon the advice of his counsel has not been accepted
by him, the claim being made that the Board as such cannot convey a mer-
chantable title. This matter must have the consideration of the Synodical
Conference as we are now in the unpleasant situation of having a lien filed
on our property in Atlanta.

6. The various items that make up our Building Fund balance are
given in Exhibit D. In Ackerville, building operations have been delayed
pending the purchase of a suitable site. Such a one has now been found,