STATEMENT OF ACTIVITIES FINANCE COMMITTEE The Finance Committee focused on strategies to increase revenue and grow unrestricted reserve funds. NCTTRAC Staff initiated a review of the prior years financial performance. Based on recommendations from the FY18 Planning & Budgeting Session, the Finance Committee, with approval from the Board of Directors, elected to move $150,000 from the idle unrestricted fund to the investment account to ensure continued growth of the reserve funds. A change in staff within Merrill Lynch prompted a proposal by the financial service firm, Raymond James. Raymond James proposed a strategy that more closely matched the organization’s goal of minimizing risk while actively growing the account. As part of the strategy to increase revenue, the Board of Directors Chair established a Revenue Sustainment Workgroup. The workgroup addressed the potential reduction in funding from state contracts. The workgroup developed a plan to increase membership dues annually at a rate equal to the increase in the Consumer Price Index (CPI). The Membership Dues increase passed with a 74% approval rate by NCTTRAC Voting Representatives and will begin in Fiscal Year 2020. The Finance Committee will continue to monitor the financial activity and maintain the financial viability of the North Central Texas Trauma Regional Advisory Council. 4