Minutes
The minutes of the May 2010 board meeting are now available. These minutes and those of the past three years can be viewed by selecting "Meeting Minutes" from the panel on the left side of this page.
New Documents
The Board of Directors recently published the following documents to their website:
KFUO-FM Sale “Frequently Asked Questions” - UPDATED
July 2010 Board Briefs
Updated BOD Policy Manual
Board Adopts “Tough Choices” Budget
“With prayerful deliberation and careful discernment to align our decisions with the Synod’s vision and mission and the Lord’s will” was Board of Directors Chairman Donald Muchow’s description of how the board would need to approach its budget-setting responsibilities for the 2010/2011 fiscal year, the budget being “a commentary on how we deploy gifts, resources, and people in our corporate response to the grace of God.”
He noted that the national economic downturn has impacted the Synod and its people negatively, causing widespread loss and reducing revenue. But he also noted that “the meltdown has caused congregations and districts to think and act creatively in the face of more stringent resources,” advocating that the Board of Directors also face its budget-setting task and the tough choices it would need to make “with similar creativity.”
He concluded his remarks with words of encouragement: “We must act out of courage, not fear of feedback. We have been entrusted to act out of faithfulness, not emotion. My hope is that somehow we all may find discernment and strength from our living and ascended Lord, to whom we now dedicate our efforts. Let’s begin.”
Vice-President–Finance—Treasurer Tom Kuchta began the budget presentation, expressing appreciation for the cooperation his team received from all involved in the process. Early budget requests from the Synod’s various entities were out of balance with income projections by more than $5 million. As a result of cooperation received and other developments, that number was reduced by half as the matter came to the board.
Executive Director of Accounting Charles Rhodes provided a detailed slide presentation of the budget as it stood at the beginning of the board meeting. Projected undesignated revenue in the coming year is expected to be reduced by $1.195 million (including a $1.62 million anticipated decrease from districts). In addition, the action of the board in February that provided for a two percent increase in salaries will add $438,000 to the budget, approximately one-half of which will necessarily come from unrestricted funding. The budget proposal also included $664,000 in transition costs for officers and staff, given possible leadership changes made by the convention.
The board discussed a variety of combinations of possible line item reductions and changes to achieve a balanced budget, a discussion that carried over into the second day of the meeting. In the end, the board approved the following 2010/2011 Mission and Ministry Operating Budget:
Total Spending Plan $87,601,646
Total Revenue (Source of Funding) $88,927,979
Surplus (Deficit) $ 1,326,333
During the budget discussion, concern was expressed that the anticipated surplus be properly understood, i.e., that $2.3 million of the revenue will be the result of the KFUO FM sale, of which $973,667 will be used for operations (some of which are repayment of costs associated with the sale), with the balance to be placed in a board-designated account, its use to be determined later. This discussion led to the introduction and adoption of two additional resolves:
Resolved, That the surplus resulting from the KFUO FM sale proceeds of $2.3 million (proceeds plus interest) be allocated to board designated funds, the ultimate disposition of those funds to be determined at a later date; and be it further
Resolved, That revenue shown in the minutes and schedule be divided into two entries, non-KFUO revenue and KFUO sale revenue, as follows:
Other Revenue $86,627,979
KFUO Sale Revenue $ 2,300,000
Total Revenue $88,927,979
Highlights of the May Board of Directors meeting can be found by clicking here.
Minutes of the May 2010 meeting are now available, Click here.
Board Briefs is published quarterly by the Secretary of the Synod on behalf of the LCMS Board of Directors.
The LCMS Board of Directors serves the church as the legal representative of the Synod and the custodian of all of the property of the Synod. For more information about the board and its members, click here.
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