I am bothered by this quote:
Yerushalmi [5:1]: Rabbi Yirmiyah said: One who is occupied with the needs of the public is equivalent to one who is occupied with the study of Torah. [Tosafot on Ber. 31a]
What does it mean? That if one takes care of the congregation's synagogue building and grounds, or serves on the Board, or heads the Membership Committee, or visits all the sick, he does not have to study Torah?
(On the other hand, V'talmud Torah k'neged kullam [Peah 1:1, Shabbat 127a, Kiddushin 40a, Tanhuma Yitro 14] does imply that if you do kullam you don't need to study.)