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.
The LCMS Board for International Mission met May 30–31, and the LCMS Board for National Mission met June 14–15 in St. Louis.
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.
Dr. Mary Scott, former provost at Concordia University Irvine, is the new head of school at Concordia International School Shanghai.
The LCMS Board for International Mission continues its work of calling missionaries and monitoring that they are well cared for during their service.