Good morning and welcome to 2018! Attached is the Proposed Plan and financial projections that the Administration and Finance Committee approved at their meeting in November and is recommending for adoption to the full Board. As in the past, it is comprised of an Executive Summary, detailed income statement projection and individual department operating plans. If, after reading this, you have any questions prior to the meeting, please let us know. The A&F Chairman is intending to schedule a conference call prior to the Board meeting to provide an opportunity for Directors to ask any questions that you may have. Please look for information on this in the near future. Again, although I realize everyone understands this, because the documents include detailed business plans and financial information, please treat this material as Board Confidential and do not discuss it with anyone outside of the ODV list. We look forward to seeing you in a few weeks. If the current weather holds, bring your long johns. It was -2 degrees at my house this morning. 73, Barry J. Shelley, N1VXY Chief Financial Officer ARRL, Inc. The national association for Amateur Radio (860) 594-0212 www.arrl.org