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1. Roll Call. Present were Sarah Alger, James Appel, Janet Baxter, Melinda Berge, Stan Betts, Terry Bischoff, Dean Brenner, Craig Brown, Bruce Campbell, Jim Capron, Charley Cook, Means Davis, Don Durant, Bruce Eissner, Susan Epstein, Chuck Fuller, Louise Gleason, Fred Hagedorn, Dick Hanneman, Tom Hubbell, Stephen Jeffries, Gene McCarthy, Joseph Melino, Ken Morrison, Jim Muldoon, Bill Munster, Joni Palmer, Mark Reynolds, Dave Rosekrans, John Ross, William Ross, Jack Rudy, Mike Schoettle, Vicki Sodaro, Art Stevens, and T.K. Wegg. 2.
Minutes. · A motion was made, seconded, and approved to accept the minutes from the Friday, March 15, 2002 Board of Directors meeting. 3. Treasurer’s Remarks. Stephen Jeffries reported that the Finance Department entered the audit expecting a break-even year. The auditor recommended $213,000 of operational audit adjustments. The most common reasons for these operational adjustments are timing and software errors. Note that these adjustments do not involve cash transactions and they will improve the outlook for this year. He also reported that US SAILING generated $550,000 in cash from operations last year. As a result, the organization is healthy and has no debt. A loss in investments due to the decline in the market hurt US SAILING by $225,000. For FY2002, cash generation continues to be healthy. The budget approved in October anticipated a budget deficit of $146,000 and allowed for $95,000 in long-term debt. Stephen Jeffries reported that he is optimistic that in October US SAILING will be able to report a deficit that is considerably smaller than originally anticipated with no debt incurred. 4. Council and Committee Reports. 4.a. General Services. Don Durant reported for the CSA on their recommendation that the number of sailing organization membership categories, except RSAs, be reduced from five to one. Staff will look at how organizational dues should be priced. Terms of reference for the new Communications Committee were distributed. The committee recommended establishment of a quarterly US SAILING newsletter as soon as possible. He also reported that the staff is developing a plan for the acquisition and retention of members and for creation of a lifetime membership for general members. After one year at an increased dues rate, the loss of members has been minimal and income is up significantly. General Services endorsed the proposal to create a cruising council, believing it will enhance the retention of members. 4.b. Audit Report. Joe Melino noted that five policy issues are listed in the management letter for the year ending October 31, 2001. He noted that while a number of adjustments were recommended in the Auditor’s letter, the overall process was a positive one. He recommended accepting the auditor’s recommendations. They will be voted on on Sunday. The recommendations include: · Implementation of additional oversight of the investment portfolio · Training concerning technical accounting issues unique to not-for-profits · Changes concerning non-cash donation · A change in the accounting of property and equipment · A change in the association’s internal financial statement grouping 4.a. Site Selection. Dick Hanneman reported that a list of the future sites for US SAILING meetings has been distributed. The Site Selection Committee requested that the Executive Committee change the date of the spring 2004 meeting in Mobile, AL, to March 25-28. 4.b. ISAF. Charley cook reported that discussion occurred regarding Olympic equipment and events and ISAF/ORC matters. He was pleased to report that the mid-year ISAF 2004 meeting will be held in San Diego, CA. 4.c. Communications Committee. Hugh Elliot reported to General Services that US SAILING must communicate more with its constituents and therefore the committee recommends producing a newsletter. The newsletter would consist of feature articles about US SAILING, while the web site is for news and timely items. 4.d. One Design Class Council. Dick Hanneman reported that a report is on the table. 5. Recognition and Awards. 5.a. One Design Club Award. In recognition of administrative excellence, fleet growth, creative programming, regatta support and member contribution, the One Design Club Award was presented to the Corinthian Yacht Club of Seattle, Washington. During 2001, the club fired off over 1,000 one-design starts as part of 34 different series or regattas. Leslie Keller, the treasurer and scorekeeper, accepted the award on behalf of the Corinthian Yacht Club Commodore. 5.b. John H. Gardner, Jr. Service Award. For distinguished service and exceptional leadership in the promotion of one-design sailing and class organization, the service award was presented to Bernard Kruse for his dedication to sailing in the Kansas City area and central sailing states. 5.c. One-Design Leadership Award. In recognition of individual initiative, enthusiasm, organizing ability, and leadership in one-design fleet building, the leadership award was presented to Joe Sullivan for starting up the Fordham University Sailing Team and building the Sunfish class. 5.d. September 11 Patriots Cup. On the morning of September 11, teams were due to come to Rush Creek, Texas, for the 2001 Adams and Mallory Cups. Five teams were able to get there for the Adams and eight for the Mallory; however, many teams were unable to get to the event. After great thought, the event was held and is now named the Patriots Cup. Faye Bennet presented the Patriots Cup to the Rush Creek Yacht Club and noted that special awards are being give to the winners of the regatta. 5.e. C.R.E.W. Award. John Burnham announced that the seven members of the C.R.E.W. awards committee would like to present the first Outstanding C.R.E.W. award to Dick Allsop for exemplifying the characteristics of a great C.R.E.W. member. 5.f. Webmaster Awards. Ken Signorello presented two new awards: the Web Liaison of the Year Award was presented to Darline Hobock for her management of four web sites. The 2001 Event Coverage of the Year award was presented to Norm Beriet, Ed Jones, and Roger Hinton for their interesting and timely coverage of the 2001 Championship of Champions regatta hosted at Mission Bay YC. 6. Announcements. 6.a. Operation Sail America. Jim Walsh reported that Operation Sail America will be held in New York Harbor on September 14-15 on the year anniversary of the tragedy on September 11. This is an event conceived by the commodore of the Manhattan Yacht Club to remember the September 11 event by filling New York Harbor with sails, representing the uplifting spirit of America. New York and New Jersey area yacht clubs are supporting the event, which continues to grow. More information is available at www.newyorkharborsailing.com. US SAILING is now one of those organizations supporting this event. 6.b. Web Site of the Month. Glen McCarthy reported on a new feature of the web site, in which different web pages will be featured on the home page of US SAILING. 7.
The meeting was adjourned at 9:05 a.m. Next
Board of Directors meeting - Sunday, March 17, 2001 at 8:00 am Respectfully submitted, Sarah J. Alger, Secretary, US SAILING
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