June 30, 2021
A Message from the Executive Director
MR. MARK STOCKWELL
MUSIC EXECUTIVE DIRECTOR
Congratulations! You have survived one of the most difficult school years in recent times. We continue to hope that the health crisis is behind us and we can look forward to a more “NORMAL” school year in the fall. Relax and enjoy time with family and friends this summer.
The 2020 MUSIC audit has been completed and the results were shared with the Board of Directors at its quarterly meeting on June 17th. The auditors provided a clean opinion on our financial statements and there were no surprises to share. 2020 revenues exceeded expenses by $6.4 million or 6.9% of assessments. Member fund balances have climbed to $41.3 million or approximately 44.6% of assessments.
The 2021 operations are currently trending better than original projections as reduced operations caused by the pandemic continue to hold down claims. The mild storm season has also contributed to the current positive claims variance. If this trend continues through the fall, we are optimistic that some level of membership credit and possibly a surplus allocation credit may be available for the 2022 plan year. The MUSIC Board of Directors will make that decision at the 4th quarter meeting in October.
Cyber terrorism has become a large and rapidly growing concern for schools and MUSIC over the past year. Please work with your tech teams to ensure that your systems and data are adequately protected. We are currently finalizing additional tech training videos and we encourage you to share them with the appropriate audiences in your organizations.
We’d also like to welcome Grain Valley R-V as the newest member of MUSIC. As Dr. DuBray mentioned, this brings MUSIC membership to another all-time high of 483. We appreciate your support and together we will continue PROTECTING MISSOURI’S FUTURE.
Have a great summer and please give me a call if you have any questions about the program or if I can assist you in any way.