Executive Committee members Sarah Alger, Charley Cook, Bruce Eissner, Ted Everingham, Louise van Voorhis Gleason, Fred Hagedorn, Stephen Jeffries, Linda Kessler, Dave Rosekrans, John Ross, Mike Schoettle, and Larry White were present. Also present were Interim Executive Director William Placke and, at the invitation of the president, Budget Chair Donna Hobbs.

1.       Prescription to Racing Rule 64.1(a). Ted Everingham and Dave Rosekrans noted that since ISAF has deleted Regulation 21.2.1(h), which required all members of every crew in every race to be either a member of their national authority or a member of a club or other organization affiliated to their national authority, this prescription is no longer necessary.

·         Motion: a motion was seconded and approved to delete the US SAILING prescription to Racing Rule 64.1(a), effective immediately.

2.       Budget. Donna Hobbs reported that the Budget Committee is willing to support an ExCom resolution to the BOD mandate of a 4% margin, but recommends at a minimum a break-even budget after capital/strategic spending. Bill Placke discussed budget two scenarios reflecting changes to the September 18 budget. The two were based on the decisions of the ExCom from its September 18 meeting, while taking into account an assessment of revenue in the current environment and essential expenditures to position the organization for the future. After considerable discussion, the ExCom budget was passed.

·         Motion: a motion was seconded and approved to pass Budget Scenario 1 (see Attachment A).

·         Motion: a motion was seconded and approved that before the budget is presented to the board for approval, more rigorous assessment of the membership revenue projections be undertaken and recommendations for further reductions in operational costs be provided.

3.       Executive Session.

Adjourn at 9:25 p.m.

Next Executive Committee meeting - Wednesday, October 17, 2001 at 7:00 pm (Eastern standard time), St. Petersburg, Florida.

Respectfully submitted 

Sarah J. Alger
Secretary
US SAILING  

Attachment A