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A
meeting of the Executive Committee of the United States Sailing
Association was held at the Palmer House Hilton Hotel, Chicago,
Illinois, at 7:00 a.m. (Central Standard Time) on Saturday, March 25,
2000. President Muldoon
presided, and Secretary Everingham recorded the minutes. 1.
ROLL CALL AND INTRODUCTION OF GUESTS.
All members of the Executive Committee and Executive Director
Terry Harper were present. 2.
PRESIDENT'S REMARKS.
Mr. Muldoon reported
that the National Sailing League had announced that it was disbanding. 3.
UNFINISHED BUSINESS. Mr. Lane presented the report of the “conference working
party”, which included
the “US SAILING Spring Meeting 2000 Budget Recast” and a series of
proposed Board resolutions. The
Executive Committee approved a motion that, for the remainder of
fiscal 2000, no new staff be hired (either new or replacement) without
the approval of the Executive Committee. The
Executive Committee approved a motion to submit the following
resolutions to the Board of Directors for its approval: ·
Staff and the Executive
Committee shall reduce expenses for fiscal 2000 by $50,000.
Based on the “recast budget”, new expense budget would be
$4,144,162 - $50,000 = $4,094,162. ·
The budget for fiscal 2001
shall show a margin of revenue over expenses of 4% (current policy) and
include an expense budget that does not exceed $3,900,000
(excluding Olympic). ·
As part of the annual
budget process, the Executive Director shall adjust pricing of goods and
services to accommodate current market conditions including the Consumer
Price Index. ·
Absent further Board
action, beginning in fiscal 2001, the General Operating Reserves shall
be increased at the rate of $75,000 per year. 4.
New Business.
There
was no new business. The
meeting adjourned at 7:50 a.m. (Central Standard Time).
The next meeting will be held at the Palmer House Hilton Hotel at
7:00 a.m. (Central Standard Time) on Sunday, March 26, 2000.
_______________________________________
J. Theodore Everingham, Secretary |