Official Handbook Source Text

3.3.4.10.1 Although the Board of Directors does not have supervisory authority over

the Synod’s colleges and universities and therefore cannot control or direct the management, administration, and governance decisions of the Synod’s colleges and universities, it does have responsibilities under Article XI E 2 of the Constitution and these Bylaws. In carrying out its responsibility to the Synod under Constitution Article XI E 2, with respect to each Synod college and university and their subordinate parts, the Board of Directors shall give particular considerat ion to the financial condition and operations of the institutions individually and collectively to evaluate both short-term and long -term effectiveness and viability in satisfying the Synod Constitution, Bylaws, and resolutions, including the applicable objectives under Article III of the Constitution. To carry out this obligation, the Board of Directors may obtain records and information as described in Bylaw 3.3.4.10. The Board of Directors may bring to the attention of a college or university president and/or board of regents any matters that, in its judgment, exhibit deficiencies and may suggest corrective action. The Board of Directors may also report the same to the Synod in convention.

The Board of Directors may appoint a committee, consisting of boa rd members or others, to assist in carrying out this responsibility.

3.4 Appointed Officers of the Synod

Chief Financial Officer

3.4.1 The Chief Financial Officer shall administer the financial affairs of the

Synod, excluding the synodwide corporate entities, the districts, the Concordia Plans, and Concordia Plan Services.

3.4.1.1 The Chief Financial Officer shall be an officer of the Synod and a layperson

appointed by the Board of Directors of the Synod in consultation with and with the concurrence of the President of the Synod.

3.4.1.2 The Chief Financial Officer shall serve a three-year renewable term of office

during which he/she shall serve at the direction of the Board of Directors.

(a) He/she may serve an unlimited number of terms.

(b) Each reappointment by the Board of Directors shall be after consultation with and with the concurrence of the President of the Synod.

3.4.1.3 The Chief Financial Officer also serves as the Treasurer of the corporation

and shall

(a) carry out the duties of the office in accordance with the rules and regulations adopted by the Synod and as directed by the Board of Directors of the Synod;

(b) receive and disburse the moneys of corporate Synod and keep accurate account of them under the instruction of the Board of Directors of the Synod;

(c) act as the depositary for all funds at the hands of corporate Synod’s boards (excluding the Concordia Plans and Concordia Plan Services), commissions, officers, and employees who by virtue of their office act as custodians or trustees of such funds;

(d) keep informed about financial affairs of the synodwide corporate entities;