SAILING Executive Committee
January 24, 2005 8 p.m. E.S.T
Telephone Conference Meeting
President Janet Baxter called the meeting to order at 8:00 p.m., Eastern
Present were Janet C. Baxter, Dean Brenner, Jim Capron, Ruth Creighton,
Susan Epstein, Louise Gleason, Fred Hagedorn, Dick Hanneman, Tom Hubbell,
Patty Lawrence, Leslie Keller, Rich Jepsen, Bill Munster, Joni Palmer and
Bill Sandberg. Also present were James Appel, Budget Director, and Nick
Craw, Executive Director, and Charles Leighton, Executive Director
Action Item: A motion to approve the minutes of the December 21, 2004
minutes of the Executive Committee as corrected was made, seconded and
President Baxter welcomed Charles Leighton to the Excom Meeting. He will
join US SAILING as Executive Director on January 31, 2005. She also reported
on US SAILING activities at the 2005 Key West Race Week
Executive Director Nick Craw called reported that the unaudited year end
financials indicate a budget surplus of $177,000.
Treasurer Leslie Keller suggested that US SAILING create an Investment
Committee, and reported that in may be possible to complete the audit prior
to the Spring Meeting of US SAILING, although the mid-year systems
conversion requires that some accounts be reconciled manually. She, the
accounting department, and the auditors are working to resolve the matter
prior to the March meeting.
Training Chair Rich Jepsen reported on the success of the National Sailing
Program Symposium in Miami. The event had the programís second highest
attendance and generated $16,700 in sales of US SAILING publications. Next
yearís Symposium is scheduled to be held in Southern California.
Vice President Bill Munster announced that a Safety at Sea Program has been
scheduled in Newport, CA., and that West Marine has expressed its interest
in becoming more involved in Safety at Sea programs.
Budget Director James Appel announced upward revisions of $9,000 to the
approved 2005 budget as a result of a double booking of benefits. The
revised budget calls for a break even year.
Action Item: A motion to adjust the 2005 Budget from a $9,000 surplus
to break even was made, seconded and carried. The budget includes the fixed
savings approved at the Board of Directors meeting in October, 2004, which
will be booked monthly as an expense item.
He reported that during the past four years, Olympic expenses exceeded
income by $330,000, an amount that will need to be repaid during the next
quad. The US SAILING Olympic Committee will make annual repayments of
$50,000, $80,000, $100,000 and will direct $100,000 from the Los Angeles
Olympic Fund to repay this overage.
Action Item: A motion to approve the Olympic Committee budget as
recommended by the Budget Committee was made, seconded and carried. In the
future, the Olympic Committee budget will continue to be reported
separately, but it will receive the same scrutiny as the regular US SAILING
Dean Brenner commented on the need to review the manner in which
depreciation is accounted for in the US SAILING budget. The President asked
him, along with Treasurer Leslie Keller and John Lovell to review the issue
and make recommendations.
Action Item: A motion to approve the Team Racing Committee as
submitted by President Baxter was made, seconded and carried.
She announced that Serge Jorgensen has been named chair of the IT Task
General Services Chair Ruth Creighton reported that Melinda Berge had
submitted her resignation as Chair of the Communication Committee and asked
for recommendations for her replacement. She also reported that the Event
Visibility Program is growing with 19 events scheduled for January and
February, and with one or two training sessions being conducted each month.
Dean Brenner announced that Rolex Miami Olympic Class Regatta was underway
with 330 sailors from 12 countries participating. Half of the Athens U.S.
Olympic team attended the Miami event. He also reported on a new Yacht Club
Partners Program. Details are published on the Olympic
Sailing Committee web site.
A discussion on making US SAILING J/24 sails
available for the ISAF Womenís Match Racing Championships to be held in
Bermuda was referred to the Inshore Committee for recommendations.
An Executive Session followed.
The meeting was adjourned at 10 p.m. E.S.T.