1. TRANSMITTAL FUNDS NETTING
2006 Annual Business Meeting
July 21-22, 2006
Las Vegas, NV
Jason DeGraf
Garry Hinkley
Lonette Turner

2. How Will Funds Netting Work?
Jurisdictions must comply with all required data elements for the Clearinghouse by October 1, 2006.
Clearinghouse participants would be required to net funds with all other participating jurisdictions.
IFTA, Inc. would establish interest-bearing bank accounts through which the funds are netted. The interest would be used to pay service charges for the account. A separate account will be established for netting transmittals among Canadian Provinces.

3. How Will Funds Netting Work?
IFTA, Inc. would develop a funds netting calendar establishing processing cut-off dates, funding due dates and settlement dates.
From the summary totals submitted to the Clearinghouse by each participating jurisdiction for the specified period, the Clearinghouse would calculate total amounts due to and from each jurisdiction.
The Clearinghouse would also issue a settlement report showing the net amount due to or from each participating jurisdiction.

4. How Will Funds Netting Work
IFTA, Inc. would monitor the required transfers into the accounts.
Once all jurisdictions required to fund the account have transferred funds, IFTA, Inc. will transfer the required amounts out the account.

5. EXAMPLES

6. All transmittals will be grouped and totaled by date
This is the amount that the base jurisdiction will be transmitting to or receiving from the account.
This is the detail showing the amount due to or from the base jurisdiction from all other participating jurisdictions.

7. FINAL SETTLEMENT REPORT.

8. DISCUSSION