LCMS Convention Proceedings St. Louis, Missouri — 1932, Page 96

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118 Proceedings of Thirty-Fifth Regular Convention,

be active in personal mission-work in order that the cause of Missions
may not suffer irreparable harm.

5. That the annual subsidy for Home Missions from the Home
Mission treasury for subsidized Districts during the nex

retary of Missions.

6. That the mission boards of subsidized Districts be required to
report on a submitted questionnaire to the Board of Home Missions
twice a year (before the last day of April and before the last day of
August) regarding the number and the salaries of their missionaries
their receipts and disbursements for both home and synodical a
poses, and their prospective fields of labor.

7. That every monthly requisition of subsidized Districts foy an
allowance of subsidy be accompanied by the Treasurer’s financial
statement of the previous month.

Since the synodical Auditor is auditing the books of all boards
receiving moneys from Synod, we recommend —

8. That the duties of the Auditor be extended to include a peren-
nial examination of the books and records of all subsidized Districts,
as far as they are related to the subsidies received from Synod.

These eight recommendations were adopted by Synod.

Recommendation 5 in the Mission Board’s report, also endorsed
by the committee, was tabled by Synod.

Report of the General Church Extension Board.
(Memorial 302.) :

The General Church Extension Board, in making this report to
Synod, is deeply conscious of the great trust that Synod has placed
in the members of this Board by giving them custody over a fund
of one and a quarter million dollars, to be safeguarded and used for
the extension of the kingdom of God. We have tried, with the ability
that God has given us, to fulfil this trust ; we have prayed to God
for guidance, and we hope that our activity has been such as will
merit the approval of Synod.

During the last three years the net worth of the General Church
Extension Fund has grown from $1,165,957.58 to $1,240,171.15. The
growth was comparatively small, due to the small income from the
budget of Synod. During 1929, 1930 and 1931 loans aggregating
$523,764.94 were made, of which 90 congregations were the recipients.
The repayments from congregations during these three years have
totaled $409,984.43, During the past year our receipts from congre-
gations have declined, and instead of remittances we received many

Ev. Luth. Synod of Missouri, Ohio, and Other States. 1932. 119

pleas for extension of time. In many instances it was quite evident
that the congregations were absolutely unable to pay; in other in-
stances your Board admonished congregations earnestly to make their
payments. The amount of loans outstanding is now $1,120,023.51,
and the cash on hand is $183,510.46. In order to know the actual
strength of the Church Extension Fund, it is necessary to subtract
from this cash balance the sum of $37,000, which has been voted for
loans, but which has not yet been paid out; and also the sum of
$58,690, which the Board has borrowed from individuals in Synod on
demand notes and which will have to be paid out when demanded:

Thus the actual cash balance available at this time without restric-

tions is $87,820.46. During these three years 158 applications for
Icans reached our hands. The total sum requested was $986,385.50.
Ninety of these applications were granted. While your Board knows
that it was a keen disappointment to those congregations whose ap-
plications were not granted, still it felt that synodical regulations
must be observed, and good judgment must at all times be used.
Some of the applications were denied because the loan could not be
made in accordance with synodical regulations; a number of ap-
plications were denied because the purpose of the loan was to pay
debts. Your Board felt that it should not make loans for the pay-
ment of debts, unless a congregation were in danger of losing its
property, because at the present time a policy of making such loans
would have emptied our treasury completely. We trust that Synod
will approve this policy.

Your Board sustained the loss of one of its valued members when
Pastor Wm. Hallerberg died on December 29, 1931. Pastor Haller-
berg was placed on the Church Extension Board by Synod in 1917
and served with loyalty and faithfulness for nearly fifteen years. The
vacancy caused by Pastor Hallerberg’s death was filled by the Board,
with the approval of the President of Synod, by the appointment of
Rev. Martin Schaefer.

The business of the Church Extension Fund was carried on as
economically as possible. The 1-per-cent. administration fee made on
our loans is calculated to cover all expenses. During 1931, $2,630.14
were collected in this way, and the cost of administration was
$3,101.87, including all legal fees, clerical and office expenses, in- .
terest, ete.

During the last few years the office of the General Church. Ex-
tension Board has made a collection of forms for legal documents
that are in use in the various States of our country, and the repeated
use of these forms has saved, and will save, Synod a considerable
sum of money in legal expenses.