UTUIA Delegates and Board of Directors gathered in Cleveland Ohio for the 14th quadrennial Grand Convention. All Board Nominees joined the Delegates during a reception on the evening of September 19th where delegates had an opportunity to interact with the Nominees, Officers, and current Board members.
The Convention agenda began with a report to the Delegates given by UTUIA President Ken Laugel in which he outlined the accomplishments and challenges, particularly during the Covid Pandemic years and shared a vision for moving the Association forward. A key component included Scholarship payments over $1.2 million dollars between Conventions and a Memorial Scholarship fund of approximately $235,000 for the children of members who died while performing the duties of their job. The appropriate management of the Association and increased attention to financial stewardship resulted in increased financial stability during the past four years reinforcing the value of the Independent Governance and Audit Committee to the Association.
Leo Hannah, H2R CPAs independent auditor, reinforced the Associations excellent Surplus position and outstanding solvency ratio. He added, the technology improvements made over the past eight years, reduced administrative expenses, and attention to the investment portfolio have led to an improvement of UTUIA’S financial position.
Jeremy Ferguson, Chairman of the Board who officiated the proceedings, spoke on the value UTUIA brings to the membership, the importance of our common bond, and the need for the membership to be insured properly.
Prior to the financial report, the election of the Board of Directors was conducted. The Non-Independent and Independent nominees were elected with no opposition. Chairman Ferguson acknowledged and thanked exiting members for their service to the Association and membership.
UTUIA Secretary and Treasurer Jeffery Becker presented an overview of the financial statements for the four preceding years before the Convention. He reported annuity disbursements represented 83% of the change in reserves, general and administrative expenses declined 19%, and Surplus increased $8,952,141, or 15.4%.
No further business was brought to the floor and Chairman Ferguson declared the 14th quadrennial Grand Convention closed.
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