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Board Meeting Minutes June 2003

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Friends of Chinese Reformed Theological Seminaries

 

"Declaring the Glory of the Triune God among the Chinese People"
 
Minutes of the June 11,2003 Annual Board Meeting (including a Sept 2003 amendment)
Friends of Chinese Reformed Theological Seminary
 
The duly called Friends of CRTS Board of Directors Annual meeting convened Tuesday June 11, 2003 in Charlotte, North Carolina. Board members present: Chairman Dr. H. Andrew Silman, Yeo Toon, Bob Simonelli and Linda Wohleber. Also present were Andrew McCafferty and Priscilla McCafferty.
 
The meeting was opened in prayer and a devotion led by Chairman Silman. Dr. Silman was reelected as the Chair and Toon Yeo as the Vice Chairman. Since our secretary, Mark Thompson, could not attend, Bob Simonelli was appointed as the temporary Secretary. The June 21, 2002 Minutes were read and approved.
 
Dr. McCafferty presented the executive director's report. The annual missionary reports of Dr. McCafferty and Dr. Tim Yates were summarized. Dr. McCafferty also presented a report on CRTS in Taiwan. In every way, 2002 was a very good year for both Friends of CRTS and CRTS. The school continues to grow. The building discussions with CRC have reached a conclusion which is acceptable to both sides. Friends of CRTS continues to become more well known, making various connections within the PCA. For the first time we have a booth at the General Assembly of the PCA. 
 
Linda Wohleber presented the treasures report, covering the 2002 finances and Jan-July 2003 finances. In 2002 (our first year in existence) we had an income of $116,072.03 and expenses of $70,776.07 -- $68,076.25 of which was for missionary support of Dr. Yates and Dr. McCafferty. As of June 11 2003 we have $22,343.30 in our accounts.
 
The major part of the meeting was spent discussing the "Missionary Salary" addition to our Guidelines. After detailed discussion, this addition was approved. The Guidelines set maximum and minimum levels of support. We approved a support level of $6000 / month plus disability payment for Dr. Yates and $2000 / month for Dr. McCafferty.
 
Our Financial support level for CRTS was discussed. We approved a $12,000 a year support for CRTS to help CRTS hire a new fulltime administrative assistant. However, in September of 2003 a motion was circulated and signed by a majority of the Board which modified this. Rather than give $12,000 US to CRTS in Taiwan, we agreed to support the Christian Reformed Church (Grand RapidsMI) work among the Chinese $20,000 US a year. This is in partial exchange for the Christian Reformed Church's granting to CRTS control of their mission property in Taipei for use as a campus. We also agreed to decrease the amount of support we give to Dr. Yates and Dr. McCafferty by $8,000 a year. In exchange, CRTS in Taiwan agreed to pay Dr. Yates and Dr. McCafferty $8,000 US a year for the work they do at the School (until now they have worked there without pay). One advantage to this is that our mission support remains in the US and is given to either US citizens or to a US non-profit.
 
The 2004 budget was discussed and approved. The only major change from the 2003 budget is the extra $12,000 US contribution to CRTS. The budgeted income for 2003 is $113,700 US and expenses are $109,720 US.
 
An open discussion of various issues followed (without any motions being discussed). These issues include our relation to Mission to the World and long term planning.
 
Toon Yeo closed the meeting in prayer
Respectfully submitted,
Bob Simonelli