14 Jun GS 1998 art 86

Posted at 17:05h in CanRC, GS 1998 by

GS 1998 Article 86 – Theological College: Finances

Committee IV presents their proposal regarding the matters pertaining to the finances of the College.

I. MATERIAL

  • A. Tri-Annual Reports of the Finance and Property Committee of the Board of Governors of the Theological College to Synod Fergus 1998
  • B. Report from the Board of Governors

II. OBSERVATIONS

Regarding matters pertaining to the property and finances, the Board reports:

  • A. The Finance and Property Committee met regularly. These meetings were attended by the current Principal and the College’s administration assistant, Miss Catharine Mechelse.
  • B. Regular maintenance of the College property was continued. Repairs and renovations have been undertaken with a view to the long term objectives of the College.
  • C. A new handbook was produced and printed for the 1996-1999 academic years and was sent to all of the governors and the churches.
  • D. The salaries of all professors have been reviewed and increased annually based on the prescribed formula. At the present time one retired professor is supported. The salaries of the staff have been reviewed and where appropriate, increased.
  • E. The churches continue to support the College faithfully. Special appreciation is expressed for the substantial contributions from our sister churches in Australia.
  • F. The transition to a computerized accounting system was completed. A decision was made to commence reporting financial matters on a calendar year basis beginning in 1997. Audited statements of years ending May 31, 1995, May 31, 1996 and the subsequent seven month period ending on December 31, 1996 are included as appendices.
  • G. Tuition fees for students have been set and approved by the Board of Governors.
  • H. Based on the College financial budgets, assessments per communicant member have remained at $63.00 since January 1, 1995.

III. CONSIDERATIONS

  • A. On the basis of the reports received, Synod considers that the affairs of the Theological College are being well managed.

IV. RECOMMENDATIONS Synod decide

  • A. To receive for information the audited financial statements and the report of the
  • B. Auditors for the previous fiscal periods; to relieve the Treasurer of the Board of all responsibilities for these fiscal periods; and to appoint sr. A. Spithoff, C.A. as Auditor until the next General Synod.
  • C. To express thankfulness for the support from the churches in Canada, the United States of America and Australia.

ADOPTED

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