A meeting of the Executive Committee of the United
States Sailing Association was held at the Hotel Monteleone, New
Orleans, Louisiana, at 7:00 p.m. (Central Time) on Wednesday, October
11, 2000. President Muldoon presided, and Secretary Everingham recorded
1. ROLL CALL. All members of the Executive Committee were present
except Messrs. Cook and Haenel. Executive Director Terry Harper also was
2. APPROVAL OF MINUTES. The minutes of the September 12, 2000
meeting of the Executive Committee were approved.
3. PRESIDENT'S REMARKS. Mr. Muldoon announced that more than 535
members are registered for the meetings this weekend.
4. TREASURER'S REPORT. Treasurer Lane reviewed the information in
the Financial Data (Fall 2000) booklet distributed at the meeting, and
he responded to questions. The booklet will be available at Thurs-day's
5. EXECUTIVE DIRECTOR'S REPORT. The Executive Director
distributed, and the Executive Committee discussed, the October 6
membership statistics distributed at the meeting.
6. UNFINISHED BUSINESS
6a. Budget - Ms. Baxter reviewed the fiscal 2001 budget in the
Financial Data (Fall 2000) booklet and pre-viewed the presentation that
she will make at the Board meeting on Thursday. The current draft of
budget (10/3/00 version) meets the Board-mandated expense cap (not more
than $3,900,000 excluding Olympic) but not the Board-mandated 4% margin
target. Additional changes will be made before the Sunday Board of
Directors' meeting to bring the budget into line with both requirements.
6b. Changes to 403(b) Tax-Deferred Savings Plan - The Executive
Director presented an Amendment to the US SAILING Tax-Deferred Savings
Plan which, if adopted, would make changes in the Plan to conform it to
changes to the Internal Revenue Code. After discussion, the Executive
Committee approved the Amendment to the US SAILING Tax-Deferred Savings
Plan in the form presented by the Executive Director at the meeting,
effective as of the dates specified in the Amendment, and authorized and
directed the officers of US SAILING to execute the Amendment and to take
all actions necessary or appropriate to effectuate approval of the
7. NEW BUSINESS
7a. New Title for Government Relations Chair - The Executive
Committee approved conferring the title "Vice President -
Government Relations" on the Chair of the Government Relations
Committee and will ask the Board to add an appropriate regulation to
7b. Governor's Cup - Two proposals from Balboa Yacht Club were
referred to the Championships Commit-tee for a recommendation.
7c. Adams Cup -The Executive Committee approved the appointment
of Karen Reisch as a Trustee of the Adams Cup.
8. ARTICLE 14/RULE 69 ISSUES. The Executive Committee and the
Executive Director discussed pending Article 14 and Rule 69 issues in
executive session. No action was taken.
9. EXECUTIVE SESSION - Mr. Harper was excused, and the Executive
Committee continued in executive session.
The meeting adjourned at 10:22 p.m. (Central Time). The next meeting of
the Executive Committee will be at 7:00 a.m. (Central Time) on Sunday,
October 15, 2000.
J. Theodore Everingham, Secretary