Report to the 2017 Southeastern Synod Assembly

Report to the 2017 Southeastern Synod Assembly Dr. Sandra G. Gustavson Fiscal Advisor My responsibilities as fiscal advisor fall into the following categories: (1) I’m the primary staff contact for the outside vendors handling our payroll, general ledger, accounts payable, and annual audit; (2) I serve as a financial resource person for the bishop, treasurer, office staff, Budget and Finance Committee, and Synod Council; (3) I’m the staff liaison to the Budget and Finance Committee, Audit Committee, and Nominating Committee; and (4) I handle several ongoing operational tasks. Last year was this synod’s first year of participation in the ELCA Mission Investment Fund’s (MIF) pilot program, in which MIF processed our accounts receivable and accounts payable, maintained our general ledger, generated our financial reports, and directed our annual audit. Five other synods also participated in this project. Although the pilot was intended to last for an initial three years and then possibly expand to more synods, the cost to MIF proved to be much higher than expected and ultimately was determined to be unsustainable. Therefore, MIF made the decision to terminate the pilot a year early. As of February 1, 2018, all of the functions performed by MIF will again be actively managed locally within each synod. After working diligently last year to eliminate the bugs in our financial reports being generated by MIF, it was disappointing to learn that the pilot would terminate early. But what we learned by participation in that project should allow this synod to improve and enhance our own processes in the years to come. This summer, I will be working with Synod Treasurer Lee Smith and Fred Weinhold (outgoing chair of the synod’s Budget & Finance Committee) to set up the financial and accounting processes we will use and select the appropriate future vendors. A priority in all of this will be to take full advantage of technology. As an example, many congregations appreciated the ability to submit their mission support contributions electronically through MIF. We intend to continue that ability, utilizing another service not yet selected. It is likely that details of the new arrangements for next year will be communicated to congregations during Fall 2017. Finally, I take this opportunity to express my thanks to the four persons with whom I share responsibility for financial operations: Treasurer Lee Smith; Budget and Finance chairperson Fred Weinhold; Audit Committee chairperson, Pastor Ed Wolff; and Holly Liersch, who is the primary synod staff person involved with day-to-day financial activities. It is a privilege to work with these dedicated individuals. Sandra G. Gustavson Fiscal Advisor

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