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Fiduciary Services worked with our long-time valuation firm, Prairie Capital Advisors, to determine
an appropriate value for the firm. As was already mentioned, we were able to significantly
increase profitability this year by controlling expenses. Strong and vigilant management has also
resulted in a strong balance sheet. The increase in profitability was somewhat tempered by a
decrease in net and gross revenue. Overall the value of the firm increased by about 4.5% to
$4,405,380.00. The total number of stock shares in circulation decreased by 7% resulting in an
increase in the price per share of 12%. Our share price rose from the FY16 value of $424.86 to a
FY17 value of $476.00. Clearly, we are doing an excellent job of managing our firm to the revenue
available. Our big initiatives moving forward must focus on growing our revenue if we want to
continue to grow the firm.
As we gather each year it’s good to highlight our proudest achievements. This year I’d like to
remember not a new building, or an award, but acts of generosity. Our nation experienced an
unprecedented series of disasters from floods to fires and the people of FGM stepped up and
responded. Thanks to Diane Gilmartin for discovering we could allocate PTO hours towards
charitable donations, and many employees past and present making cash donations- we made
our largest ever contribution to a charitable cause. With a match provided by FGM, the firm
contributed $22,700 to the American Red Cross this year.