The organization concluded its fiscal year September 30, 2017. The Fund experienced a net decrease in fund balance (loss) of $171,763 for fiscal year 2017. The net loss is attributable to the continuing increase in payment of benefits to members, which is illustrated in the Benefits Paid to Members graph on page 3. The payment of benefits has increased significantly in recent months, which resulted in a substantial loss for the first quarter of this fiscal year. We are currently projecting a decrease in fund balance (loss) of approximately $2,000,000 for fiscal year 2018. The officers and directors are closely monitoring this situation to determine the best course of action. On a positive note, the Fund experienced a net reduction in general and administrative expenses in fiscal year 2017 compared to fiscal year 2016.