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Board Meeting Minutes June 2002

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Minutes of the 2002 Annual Board meeting
Friends of Chinese Theological Seminaries
June 21, 2002

The duly called Friends of CRTS (Friend’s) Board of Directors Annual Meeting convened Friday, June 21, 2002 at 9am in Birmingham, Alabama. 

 Board members present: Chairman Dr. H. Andrew Silman, Pastor Yeo Toon, Bob Simonelli and Mark Thompson.  Also present were Barbara Thompson and Andrew and Priscilla McCafferty. 
 
The meeting was opened in Prayer and a devotion led by Chairman Silman. 

The December 5, 2001 Minutes were read and approved.
 
Dr. Silman was reelected as the Chair and Pastor Toon Yeo as the Vice-Chairman.  Linda Wohleber continues to serve as the Treasurer and Mark Thompson as the Secretary.  Dr. McCafferty was officially appointed Executive Director to serve a three year term until June of 2005.
 
Dr. McCafferty presented the financial report and the report on our two missionaries, which reports were accepted.  Friend’s financials are available for review via the Internet.
 
Dr. McCafferty presented a report discussing the present situation at China Reformed Theological Seminary (CRTS) -- including details of the negotiations between the CRC and CRTS and the request of Dr. Tim Yates Presbytery that Dr. Yates seek some way to be more closely related to MTW.
 
In light of the situations with CRC and with Tim Yates and his Presbytery, it was moved that we invite Dr. Paul Taylor, the Asia Director of MTW, to join us on the Board as our sixth member, and that he be asked to take a leading role in the discussions between the CRC and CRTS.  This motion was unanimously approved.  (Dr. Taylor accepted our invitation.)
 
The major part of the time was spent in discussing our "Guidelines for Friends of CRTS".  The Guidelines were revised in various places and then approved.  (See the attachment which contains the revised Guidelines.)
 
The Missionary Salary and Benefit packages for both Dr. Yates and Dr. McCafferty were discussed and approved.  Dr. Yates total package including salary (34,000), housing (13,000), benefits (7,720), children's education (22,200) and ministry expenses (8,200) is $85,120 of which $72,000 is provided by Friends of CRTS.  Dr. McCafferty's total package including salary (18,400), housing (3,600), benefits (3,100), social security (3,470) and ministry expenses (4,200) is $32,770 of which $24,000 is provided by Friends of CRTS.
 
The 2003 annual budget was discussed and approved.  The expected expenditure for 2003 is $99,600 with the vast majority (96,000) going to the support of our two missionaries.  The expected income for 2003 is $103,700. 
 
__________________________                 ____________________________
H. Andrew Silman, Chair     Mark Thompson, Secretary