Financial Oversight of Our Synod
Responsibility for oversight of our synod’s finances is governed by the constitution and by-laws of our synod. The treasurer and the Financial Management Committee are each charged with specific responsibilities.
The treasurer of MNYS is Frank Suttell. Elected by the Synod Assembly, he is accountable for:
- management of synod monies and accounts
- investment of funds
- receipt and acknowledgement of all contributions and gifts
- quarterly reports to congregations detailing mission support and other contributions to our synod and ELCA
- annual reports to the Synod Assembly on the state of synod finances.
Financial Management Committee
- provides for responsible management of all financial assets of our synod
- prepares an annual budget reflecting anticipated receipts and expenditures and strengthens the financial position of our synod
Committee members include the treasurer and five to eight persons appointed according to synod bylaws. The chairperson is appointed by the bishop. The bishop and vice president of the Synod Council serve as advisory members. Kathleen Schmidt, Assistant to the Bishop for Finance and Administration, also attends, on behalf of the bishop and synod staff.
Members of the committee:
Mr. Frank Suttell, treasurer
Ms. Suzanna Hoglund
Mr. Marc Karis
Mr. Jeff McDonagh
Mr. Jeffry Petersen
Mr. Edward Wagner, chair
Approved Policies & Procedures
Investment Policy Statement
Gift Acceptance Policy
Loan Policy to Congregations and Institutions
Loan Policy to Individuals