IFTA, Inc. Financial Report

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Presentation transcript:

IFTA, Inc. Financial Report Scott Bryer (NH) 1st Vice-President, IFTA Board of Trustees

Funds Netting Totals On pace to exceed $5 Million transmitted in 2019

Clearinghouse Participation 56 jurisdictions participate in the IFTA Clearinghouse. Quebec anticipates joining the Clearinghouse in 2020. We will work with Newfoundland Labrador toward Clearinghouse participation.

IFTA Inc. Revenues

IFTA, Inc. Expenses

FYE20 Revenue Projections Membership Dues and IRP ARES stable Dispute Resolution Referral Fees ended 2.5% Return on Investments projected Funds Netting Liquidity Plus One Traveler Explicit Transfers from Investments

FYE20 Expense Projections Salaries overall decrease, benefits cost increase Professional Services decrease Legal Fees increase to retain outside counsel Office Expenses increase due mostly to Clearinghouse co-location Travel increase due to remote workforce and greater outreach Professional Services decrease due to no SOCII audit and no Strategic Plan expense

Investment Portfolio

Investment Reserves

IFTA, Inc. Audits Financial Audit SOC II Audit

What’s New? Liquidity Investment of Funds Netting Funds (Government Securities only) Plus One traveler re-approved All servers moved to a secure co-location Preparations underway to vacate office in August, 2020

FYE20 IFTA, Inc. Budget

QUESTIONS?