Collection › LCMS Convention Workbook (St. Louis, Missouri) › 1975 · 51st Convention › Page 176
LCMS Convention Workbook St. Louis, Missouri — 1975, Page 176

Scan: The Lutheran Church—Missouri Synod
Transcription machine transcription, uncorrected

176 ADMINISTRATION

Amount due from insurance company —

Note B — _- 189,472 265,000
Contributions receivable 63,324 9.064
Investments —at amortized cost

(approximate market value —$4,683.718

in 1974 and $7.703,821 in 1973):

Bonds, notes, and debentures —_—s1.513,542 = 2,911,212
Common stocks -.-- 4,791,073 4,792.119
Preferred stocks — == 45.100

$6.304.615 $7,748,431

Accrued interest and dividends _ __ . - 34.679 56,508

Prepaid expenses and sundry receiv ables. _ _ 1,888 336
Equipment (less allowance for depreciation
of $20,507 in 1974 and $16,043 in 1973) _____— 35.071 38.633

$7.034,206 $8,436,920

LIABILITIES AND FUND BALANCE

Accounts payable and deferred income ______ $__ 67,495 $ 49,972
Claims payable 240,000 245,000
Estimated liability for claims incurred

but not reported _ .
Reserve for noncontributory benefits —

- - 2.563.000 1,950,000

Note C 2.593.000 2,395,000
Fund balance — Reserve for future plan
benefits 1,570,711 3,796,948

$7.034.206 $8.436,920

See notes to financial statements.
STATEMENT OF REVENUES. EXPENSES. AND FUND
BALANCE

Concordia Welfare Plan
Year Ended December 31

1974 1973
Revenues:
Contributions from members . -~.. —.... $6,976,305 $6,299,409
Interest income ——— esis . 195.800 276,052
Dividend income __. _ 144,056 136,646
$ 339.856 $ 412,698
Other —— . 838 1,370
$7,316,999 $6,713,477
Expenses:
Benefits:
Health care __ a 7.870.909 5,658,721
Disability fee ee ee 443,831 419,085
Death eee ne 5,303 11,304
$8,320,043 $6,089,110
Insurance premiums |. 284,979 228.045
Provision for noncontributory
benefits — Note C - 198,000 210,000

Loss on sale of investments — net
Administrative expefses ____ _..

aa 291,832 186,082
aa 448,382 405,404

$9,543,236 $7,118,641

Excess (Deficiency) of Revenues over

Expenses ($2,226,237) ($ 405,164)
Fund balance at beginning of year —__-__ .. .. 3,796,948 4,202,112
Fund Balance at End of Year $1,570,711 $3,796,948

See notes to financial statements.

STATEMENT OF CHANGES IN FINANCIAL POSITION

Concordia Welfare Plan

Year Ended December 31
1974 1973
Increases in cash resulted from:
Excess (deficiency! of revenues
over expenses —.-_.___
Add (deduct) expenses (income) not
requiring outlay of operating funds:

— ($2,226,237) ($ 405,164)

Depreciation —————_— — 4,463 3,667
Amortization of bond discount _
and premium — (8,822) (25,119)

Provision for claims incurred

but not reported ___. —_. 613,000 (125,000)
Provision for noncontributory

benefits — 198,000 210,000
Loss on investments sold ___—— . 291,832 _ 186,082

Total from Operations ($1,127,764) ($ 155,534)

Increase in claims payable ___ 115.000
Decrease in amount due from insurance
company __.. _ 75,528
Proceeds from investments sold or
redeemed 8,232,095 18,694,385
Decrease in contributions receivable ___ 13.206
Other increases— net ——__-.-.__»_ 37,800 24,881
$7,217.659 $18,691.938
Decreases in cash resulted from:
Decrease in claims payable a 5,000
Increase in amount due from
insurance company — 107.361
Increase in contributions receivable _. __ 54,260
Equipment purchases — 901 11,451
Cost of investments purchased —____ 7,071,289 18,401,782
$7,131,450 $18,520,594
Increase in Cash $ 86.209 $ 171,344

See notes to financial statements.

BALANCE SHEET

Concordia Survivor Plan

ASSETS
December 31
Cash: 1974 1973
Demand deposits — $118,027 $245,219
Investment account __.__...-.. 2.2 23,668 6.115
$ 141,695 $ 251,334
Amount due from insurance
company — Note B 1,410,143 873.140
Contributions receivable 788,005 729,217
Investments — at amortized cost
(approximate market value $5,867,005
in 1974 and $6,120,178 in 1973):
Bonds, notes, and debentures 2,015,644 = 2,275,101
Common stocks 5,676,016 4,115,160
$ 7,691,660 $6,390,261
Accrued interest and dividends — 28,045 35,307
Prepaid expenses and other assets ———___ 226 1.427
Equipment (less allowance for depreciation
of $2,637 in 1974 and $2,035 in 1973) —_—— 4,855 5.345
$10,064,629 $8,286,031
LIABILITIES AND FUND BALANCE
Accounts payable $ 5,774 $ 1,145
Fund balance — Reserve for future
plan benefits 10,058,855 _ 8,284,886
$8,286,031

$10,064,629

See notes to financial statements.

STATEMENT OF REVENUES. EXPENSES. AND FUND

BALANCE

Concordia Survivor Plan

Year Ended December 31

1974 1973

Revenues:
Contributions from members —______————-—s#$:«3,073,761 $2,912,575
Interest income _ 165,962 244,854
Dividend income 135,053 76,668
$ 301,015 $ 321,522
Other income 521 547
$ 3.375.297 $3,234,644

Expenses:

Survivor benefits paid:

Member's death prior to retirement ____. 274.426 282,757
Member's death after retirement —____ 4,573 6.521
Member's death while disabled —___ 7,798 7,835
$ 286,797 $ 297,113
Insurance premiums 1.025.612 1,273,554
Loss on sale of investments — net 217,345 265.680
Administrative expenses — ee 71,574 54,712
$ 1,601,328 $1,891,059
Excess of Revenues over Expenses  $ 1,773,969 $1,343,585
Fund balance at beginning of year _.._ 8,284,886 6,941,301
Fund Balance at End of Year $10,058,855 $8,284,886

See notes to financial statements.