The Lutheran Church—Missouri Synod (LCMS) Board of Directors met at the LCMS International Center in St. Louis May 18–19.
Among other items, the COP discussed the Concordia University System, and the BOD reviewed the Synod’s financial position.
The budget includes total revenue of just over $82 million and total spending of $81.4 million.
The Board for International Mission met May 27–28, and the Board for National Mission met June 10–11.
The committee appointed by the Synod’s Board of Directors in response to 2019 Convention Res. 7–03 to conceive of a new governance model for the Concordia University System reported on its progress at the Board’s Feb. 19 meeting.
At its Sept. 4 meeting, the board also heard about how reductions in budgeted Fiscal Year 2021 expenditures will have a significant impact on LCMS mission and ministry efforts.
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.
Audits and summary budgets are available for the LCMS, LCEF, the LCMS Foundation, all 35 LCMS districts and Concordia Publishing House.
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.