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					                                USA HOCKEY, INC.
            FINANCE AND INVESTMEN COMMITTEE/TREASURER’S REPORT
                               (2011-2012 Season)
                         2012 WINTER MEETING REPORT


                         FINANCE AND INVESTMENT COMMITTEE
The Finance Committee and the National Office staff remain committed with our endeavors to
continue to improve the financial position of the corporation. We continue to do financial
reviews conducted by Jill Goodwin of Waugh & Goodwin and Bob Weldon per the Affiliate
Agreement.

For the fiscal year ending August 31, 2011, USA Hockey, Inc. recorded a $366,555 deficit
versus a $24,645 surplus recorded last year. Revenues for 2011 were $34,620,809 compared
to $33,911,043 for 2010.

For the year ending August 31, 2011, revenues increased primarily due to increased
membership registrations. Expenses increased approximately $1.1 million due to increased
insurance claims and premiums, non-budgeted international events, travel expenses and cost of
living increases.

The Finance Committee, which meets twice a year, once at the Annual Congress, and once at
the Winter Meeting, continues to conduct a program of audits of the National Office, along with
District entities. The reinstated field reviews for the Affiliates are continuing with expanded
review procedures that have been implemented.

The following financial reviews were completed since Annual Congress in June 2011 and prior to
Winter Meeting in January 2012:

                         Affiliates
                                Atlantic
                                Arizona
                                Carolina
                                Colorado
                                Land of Enchantment (NM)
                                Potomac Valley
                                Southern
                                Statewide Amateur Hockey of Florida
                                Rhode Island
                                Texas
                                Utah

                         Coach-in-Chief
                              Michigan
                              Minnesota
                              Rocky Mountain
                              Southeastern

                         Referee-in-Chief
                              Michigan
                              Minnesota
In December, the Audit Committee met with our outside auditor from Waugh & Goodwin, LLP,
without staff, to review the year-end financials along with internal control and accounting
procedure matters. The auditor continues to be comfortable with the performance and
transparency of the staff.

                                          INSURANCE
For some premiums that were negotiated either with the carrier (Direct) or the Managing
General Agent or Broker, the premiums either renewed with no increase or increased. The
excess medical claims continue to rise as some members are using USA Hockey membership as
the primary insurance plan instead of as an excess provider as was the intent of the coverage.
Some changes have been made to hold those who secure no insurance coverage (no primary)
more accountable and it has helped the claim costs. Catastrophic coverage was an issue this
year and has been resolved. Long term concern is the effect on Director and Officers coverage
and sexual abuse and molestation.

                                              HARP
HARP, the Captive created by USA Hockey, Inc. and domiciled in Vermont, was incorporated in
April 2004. HARP has been capitalized by USA Hockey, Inc. with a letter of credit and cash.
Hirtle Callaghan is investing these funds per an investment policy that has been modified to be
slightly more conservative than the USA Hockey Foundation investment policy. HARP is
reflecting a $703,186 surplus for 2011 as compared to $425,600 surplus in 2010.

                                        IT DEPARTMENT
The IT Department continues to provide technological expertise, equipment, and maintenance
to all departments requiring assistance. Justin Olsen has joined us as our new PC Support
Tech, and is already using his experience in Goldmine software to upgrade our contact
database in use by several departments. Work has been completed integrating the new
Coaching Education requirements into our systems, and we continue to improve and expand
registration systems integrated throughout the country. Other projects underway include
improving the Cyber Junior systems, adding additional file-collaboration ability around the
country, and upgrading our email system. Our group will continue to assist all departments in
projects that are provided for in the budget, while helping them to reduce costs. As always, our
primary goal is to produce a positive experience for staff, volunteers, and members. We look
forward to participating in the challenges ahead.

                               MEMBER SERVICES DEPARTMENT
The 10-11 season was the sixth season for online registration nationwide and 99% of all
registrations were processed online. The process has been very well received by individual
users and participating programs alike. The electronic transfer of affiliate fees to 33
participating affiliate accounts has been completed successfully on a regular basis with over
$2,994,000 being distributed to those Affiliates as of November, 29, 2011. Registrations for the
current season are above this date last season. The Cyber Sport registration software continues
to be improved and enhanced every year to ensure the best product possible for our member
programs. A big change this year was to add date of birth verification to the National database
and the registration software so that players will be required to present their proof of age
document only one time.


Submitted by: James Smith, Chairperson
              Robert G. Weldon, Staff Liaison

JS/RGW/yd/12-1-11

				
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