A cautious approach to expenditures in FY21 reflects major economic uncertainties in the current forecasting environment, not the least of which has been the impact of COVID-19.
Due to near-term COVID-related challenges, the Board in April had endorsed a proposal from the Operations Team to prepare spending forecasts through the end of the current fiscal year and abbreviated budget proposals for just the first quarter of the next.
The BOD also heard updates on international mission, church-worker recruitment and the Synod’s ‘Making Disciples for Life’ initiative.
Among other business, the Board heard a report from the Synod president, elected a new BOD member, and thanked retiring CFO Jerry Wulf for his service.
Sias was re-elected as secretary of the Synod, and four members were elected to the LCMS Board of Directors.
Due to two major triennial events, the approved budget is $12 million higher in FY20 than in FY19, but the expenses for those events are essentially recovered through fees.
The move, which brings the Synod’s indebtedness to external entities to zero, will save $1.4 million a year in principal and interest payments.
Preparations for the Synod convention are proceeding on schedule, and three major Synodwide initiatives are newly underway or soon to be.
At its November meeting, the Board heard from its chairman about efforts to increase the efficiencies of corporate Synod so the church can use the savings on its “core competencies.”
With the unanimous concurrence of the Board for International Mission, LCMS President Rev. Dr. Matthew C. Harrison has named the Rev. Daniel F. McMiller as the new executive director of the Office of International Mission.
Meeting in St. Louis May 18–19, the LCMS Board of Directors adopted a fiscal year 2019 operations budget of $69.4 million, a figure nearly $8 million lower than that of the current fiscal year, which ends June 30.
At its Nov. 16–17 meeting, the Synod’s Board of Directors fixed its gaze on “facing the realities” of the Synod’s finances and membership demographics.