| A meeting of the Board of Directors of the
United States Sailing Association was held in New Orleans, Louisiana, at
8:00 a.m. (Central Time) on Friday, October 13, 2000. President Muldoon
presided, and Secretary Everingham recorded the minutes. 1. Roll Call. All members of the Board of Directors were present except Messrs. Cook, Haenel, Harken and Munster. 2. Approval of Minutes. The minutes of the Board of Directors meeting on October 12, 2000 were approved. 3. President's Remarks. President Muldoon reminded the committee and council chairs of the need to keep their reports concise in view of the full agenda at each Board meeting. 4. Council and Committee Reports 4a. Budget Committee. Janet Baxter reported on the Budget Committee's meeting on October 12 and the fiscal 2001 budget (10/12/00 version) that will be presented to the Board at its meeting on Sunday morning. The budget meets both the Board-mandated $3,900,000 expense cap and the 4% margin requirement. She directed attention to the memorandum dated October 2, 2000 in the "Budget" section of the Financial Data (Fall 2000) book. 4b. General Services Committee ("GSC"). Don Durant reported for the GSC. On recommendation from the GSC, the Board of Directors approved the Chubb Masterpiece Program for members with Chubb's agreement that it will (a) join US SAILING as a corporate member at the $1,000 level, (b) purchase a $5,500 banner ad on the US SAILING website and (c) pay all research and set-up costs of the program. The GSC supports the absence of the Directory for 2001. The GSC recommends increasing individual annual renewal dues according to the following schedule: $50 (1-year renewal), $45 (2-year renewal) and $40 (3-year renewal). Membership Director Nell Roberts presented the results of a recent survey of members with known e-mail addresses respecting a dues increase and perceived benefits of US SAILING membership. A motion was made to approve the recommended dues increase. Before a vote, the Board approved a motion to postpone the matter for consideration at the Board meeting on Sunday. On recommendation of the GSC, the Board approved continuation of the Myers-Briggs & Co., Inc. insurance programs, the Gowrie, Barden & Brett insurance program and the Starkweather & Shepley sailing school insurance program. 4c. Interscholastic Sailing Association (ISSA). Larry White reported interscholastic sailing continues to grow. 4d. ISAF Delegation. Ding Schoonmaker (in Charley Cook's absence) referred the Board to the delegation's written report. 4e. Sportsmanship Committee. Dean Cady encouraged reference to the US SAILING website for information about and applications for the W. Van Alan Clark, Jr. Sportsmanship Trophy. 4f. Youth Working Party. Cory Sertl referred the Board to the working party's written report. 5. Report on US SAILING Research. Jim Teeters, Director of Research, reported on research activities, most of which are in the offshore area (e.g., tow tank rudder testing and wind tunnel spinnaker testing). 6. Unfinished Business. There was no unfinished business. 7. New Business. Treasurer Bob Lane reported that Bank of Newport has approved increasing US SAILING's unsecured line of credit from $250,000 to $600,000 on condition that US SAILING maintain General Operating Reserves and/or Board-Designated Funds with a market value of not less than $1,200,000. After questions and a discussion, the Board of Directors approved the proposed line of credit as presented. 8. President's Awards. President Muldoon presented President's Awards to:
The meeting was adjourned at 8:57 a.m. The next meeting
of the Board of Directors will be at 8:00 a.m. on Saturday, October 14,
2000, in the Queen Anne Ballroom, Hotel Monteleone, New Orleans,
Louisiana. ________________________________________ |