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.
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.
Synod Chief Financial Officer Jerald C. Wulf tells the LCMS Board of Directors that the 2016 budget “balances expected revenues against anticipated expenses.”
The Synod Board of Directors adopts a balanced national-Synod operating budget (or “spending plan”) of $81,762,189 for the 2013-14 fiscal year that begins July 1.
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