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Synodical Conference Convention Proceedings St. Louis, Missouri — 1958, Page 136

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136 Proceedings of the Forty-fifth Convention

Report and Recommendations of Committee 7

Your committee has met with Mr. Russell Rolling, Treasurer
of the Missionary Board of the Lutheran Synodical Conference,
and has studied his report for the fiscal biennium ending June 30,
1958. We have also examined the report prepared by the auditors,
Tracy B. Whitton and Company, Certified Public Accountants, for
the fiscal year ending June 30, 1957.

We note that budget disbursements in both the domestic and
African mission fields have remained within the allocations. We
commend the Missionary Board for their efficient administration
of budget funds.

We take grateful recognition of the many contributions from
Sunday schools, ladies’ groups, and congregational organizations
throughout the country, whose gifts are intended for special proj-
ects in Nigeria.

The total capital of the Church Extension Fund now amounts to
$403,883.46, against which loans outstanding amount to $282,059.69.
For the most part these loans are being repaid with regularity.
The few cases of delinquency seem to be due to the unfavorable
economic conditions in industrial areas.

We recommend that the budget for the current year be ratified
by this convention.

We recommend that the Treasurer’s report be accepted.

We urge the Missionary Board ‘to institute further salary in-
creases, if at all possible, in order to attain the salary levels prevail-
ing in the various geographical areas.

We wish to commend Mr. Rolling for his faithful services and
conscientious presentation of the financial picture of the Synodical
Conference.

Action of the convention: Adopted.