LCMS Convention Workbook St. Louis, Missouri — 1973, Page 391

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STEWARDSHIP AND FINANCE 391

12-18

To Encourage Extension of Social
Security Act

Wuereas, Many of our full-time church workers, such as
parochial school teachers, directors of Christian education,
and lay training personnel are not currently eligible for So-
cial Security coverage on a self-employed basis similar to
clergy and male parochial school teachers; and

Wuereas, They in their specific ministry perform many
of the functions similar to clergy and male parochial school
teachers; and

WuereaS, The Social Security coverage for church work-
ers is pretty well dictated by ecclesiastical directives; there-
fore be it

Resolved, That The Lutheran Church — Missouri Synod,
in convention assembled in New Orleans, July 6—14, take
the necessary steps to secure legislation that would include
all full-time professional church workers, whether male or
female, under the laws of the Social Security Act so that
they may apply for coverage as a self-employed, “ordained,
commissioned, or licensed” individual who performs duties
that are considered ministerial in nature.

Sr. Joun’s LUTHERAN CHURCH
Stewartville, Minn.

Arnold Smidt, President
Leonard Ristow, Pastor
Clarence Stoltenburg, Secretary

12-19

Report of Treasurer

Herewith is presented the financial report of the Synod’s
fiscal business. This is in accordance with the Handbook
provision that the Treasurer “shall receive and disburse the
Synod’s moneys and keep accurate account of them under
instructions of the Board of Directors.” We are pleased to
say that this responsibility has been carefully and consci-
entiously discharged by the Treasurer and his staff. The
bookkeeping and accounting is done by the Controller’s
office, and you will therefore find the details and the Balance
Sheets under the Controller's report. In addition to his
duties as the elected Treasurer of the Synod, he is also a
member of the Board of Directors and is assigned to Com-
mittee 3.

He is an ex officio member of the Board of Trustees for
Trust Funds. He is a member of the Board of Trustees of
the Foundation. He is a member of the Council of Admin-
istrators as chairman of the Division of Finance. He is also
appointed as the official representative of the Synod to the
Lutheran Laymen’s League and the Committee of Admin-
istration and Finance of the Lutheran Council in the U.S.A.

Being Treasurer, plus the other Synod-related activities
requires about 30 hours, on the average, of the Treasurer’s
time per week. He receives no compensation. He was elected
at the Cleveland convention in 1962.

This report is intended only to give a comparison of the
Synod’s income and expenditures for the past 5 years, as
well as the anticipated income and expenditures for the cur-
rent vear. Our fiscal year is from February 1 to Jan-
uary 31.

Exhibits A and B are for reference purposes. The detailed
accounting, which is done for the Treasurer’s office by the
accounting department. is under the supervision of the Con-
troller’s office and will be found elsewhere in this revort.
In addition, we will try to analyze some of the past fiscal
performance and project what can be anticipated in the fu-
ture based on what the trends are and what the past tells us.

You will note that Exhibit A deals with District Income
which is approximately 90% of the total income of Synod.
The dollar income from Districts has changed very little
during the past 5 years. The commitments have been getting
smaller but the percentage of remittance to commitments
has improved. In 1969 the commitment was $25,039,133; the
remittance was $24,060,781, which is 96.1% of commitment.

In 1972 the commitment was $24,271,529; the remittance was
$24,143,006, which is 99.5% of commitment.

You will observe that the commitment for 1973 is again
lower than 1972 but because of improved remittance per-
formance (anticipated at 99.75%) the dollar income is an-
ticipated to be slightly greater. For this improved and more
realistic performance we are grateful because it makes it
possible to do a better job of money management.

The problem still remains however, and that is that be-
cause the income of Synod has remained virtually the same
for so long we are unable to make progress. As a matter of
fact we seem to be losing ground. This is quite obvious
when we realize that the dollar has, conservatively estimat-
ing, 30% less purchasing power than it had 5 years ago.

To do as well as we have has required the various depart-
ments to cut all corners, eliminate programs, reduce staff,
and forego increase in salaries to the point that our execu-
tives, staff, and clerical employees are generally paid less
than people in like positions in other fields. This presents
the problem of keeping and getting competent help.

In the past 2 years all departments received the full
amount of their budget. That is to say there were no reduc-
tions made during the year. While the money allocated was
less than reauested, nevertheless it made for a better opera-
tion for each department to have the assurance that the
budget would not be reduced during the year. During the
past 3 years we have had an operating surplus.

1972 seems to have been one of the best all-around years
that Synod has had. The operating departments lived with-
in their budget allocation, and the income exceeded the ex-
pectation. All of which resulted in an operating surplus.

We at this point in time view this quite optimistically. It
appears we can expect improvement in the amount of syn-
odical income. We believe our people are saying “we are
ready to move forward.” “Let’s get on with the work of the
Lord who is providing us so many opportunities.”

Looking at some of the past “Treasurer's Reports” it
seems they were pessimistic. As of this time I would hope
we could convey optimism. The opportunities are unlimited;
the future is bright. We are in a better financial position
now than we have been for many years. This is encourag-
ing. We believe we have turned the corner and with few ex-
ceptions our people will see the great opportunities and will
want to support the work of the church more fully than
possibly ever before.

“Key 73” and the thrust of the “Evangelism Program” are
certainly a big plus. People everywhere are becoming more
concerned about being “their brother's keeper.” It is an ex-
citing program and will be very meaningful to all Christians.

In addition to that, our own 125th Anniversary Program
making all of us aware of the manv opportunities the Lord
has provided us. The enthusiasm that has been generated
by Dr. Harms and the 125th Anniversary Committee and by
Dr. Rickman and his associates is very encouraging.

The opportunities for all of us to “witness for the Lord”
in our own way are abundant.

The hope of starting new programs and shoring up eX-
isting programs will be possible.

Retirement of old debts which is always a drain on cur-
rent income is in sight. With the prayers and generous sup~
port of our people certainly a new day is at hand for the
Lord’s work through The Lutheran Church — Missouri
Synod. God willing 1973 and this convention will be the
turning point in the history of The Lutheran Church —
Missouri Synod.

This new day in our church’s history and life is in the
hands of our almost three million members. The amount of
the Lord’s work that is done by Synod is a direct reflection
of their gifts and prayers. So let us all keep praying and giv-
ing not only our money but ourselves.

There are actually thousands of transactions that come
through the Treasurer's office each year. The investment
program for the Church Extension Fund requires much time
and analysis. The accounting for the various trust funds is a
sizable and important part of our work, because this is the
area in which we must account for the purchase of stocks
and bonds as well as their sale from time to time. We are
accountable for all income as well as disbursements, which
amounts to millions of dollars each year. This we are able
to accomplish with a staff of only seven people.