July 2018 TCC Committee Spotlight– Finance Committee
The Finance Committee performs a number of financial overview functions to help ensure that the Club maintains long-term financial stability.
In reviewing the financials, we ensure that the Club’s events are conducted in a cost effective manner. We compare the present reports with historical data to spot variances that catch our attention. Examples of what we look for are higher than normal costs of events and seminars, as well as the level of attendance, which of course, translates into revenue generated.
Another area the Committee watches is the investments the Club has made. The Club maintains an investment portfolio, the returns of which contribute to the scholarship fund. Committee members are well-informed about trends in the marketplace and frequently exchange views of where the market might be going with Merrill Lynch’s representative, Jim McLaughlin, who is also a committee member. The Committee members both give and receive advice on market trends and make adjustments to our portfolio, as required.
The Committee members have strong professional backgrounds that augment the Finance Committee’s functional role. In the financial sector, some members hold positions as accountants, bankers, as well as practitioners of financial functions within their respective organizations. Some of the Committee members operate their own enterprises within the transportation sector and bring valuable experience, insight and professional perspective to the Committee, gained through the course of daily operation of their respective companies.
The Club continues to grow and prosper with stability and we’re proud to contribute to help add value for our membership.
If you have any questions of the Committee, we are happy to answer them and as the Committee Chairman, you may contact me directly and I will do my best to answer your questions promptly.
Tim Delany, Dowell Group, LLP
Remy Diebes, REMPREX
Mike Halkitis, RSM US LLP
Todd Kahn, Chicago Freight Car Leasing
James McLaughlin, Merrill Lynch
Bill Thomson, BMO Harris Bank
Tom Tisa, CN
Earl Wacker, AECOM
for information on all the TCC Committees.