July 1, 2020
MUSIC 2019 Financial Audit
Scott Wightman – Area Executive Vice President – Gallagher
Our 2019 year-end financial audit has been completed and approved by the Board the Directors. We had another very good year and over the last two years have added $11.7 million to our surplus. Our surplus at the end of 2019 was $34.9 million and getting closer to a point where the Board would consider another surplus allocation credit. Past policy has been to refund any surplus over 50% of member assessments and we are now within $8.5 million of that mark. If things go as well as they have over the last couple years, it may not take long to get there.
The full 2019 audit is available on the website under About MUSIC/Financial Audits.