2007 Annual General Meeting Minutes PDF Print E-mail
Written by Isabella Bertold   
Wednesday, 11 July 2007 18:53

International Laser Class Association, North American RegionAnnual General Meeting June 15, 2007 Hyannis Yacht Club, Hyannis, Massachusetts


 I.                    The meeting was called to order at 4:35pm by Treasurer Ben Richardson.   

II.                 All were welcomed and thanked for their attendance.  In addition to Treasurer Richardson and Sherri Campbell -Executive Secretary, approximately twenty other class members were in attendance. 

III.               Sherri Campbell presented the office report.  The class financial statements as of May 31, 2007 were presented.  Those statements are attached.   Campbell reported that we are in good financial standing.  Our membership numbers are consistent with the same time last year.   She reported that the new online database is up and running.  This is a useful tool to both district secretaries and regatta hosts as well as for the class office.  The system has different access level which may be set up to serve the districts and regatta venues to provide an easy way to check class membership status, email addresses, etc.  It can also be linked to a company who is able to provide online regatta registration and website coverage for any regatta host.  There is continued effort to improve The Laser Sailor and the website.  She asked for materials, photos and ideas to be sent to the class office at any time. 

 IV.         Future regattas were discussed.  We are looking to schedule majors further in advance and are always looking for input from sailors about potential venues in their region. Campbell reminded everyone to check the calendar entries on the class website.  As soon as venues are confirmed, the information is posted there.V.            Ned Jones from Vanguard/PSE gave a report summarizing the recent acquisition of Vanguard by Gavel Securities Limited.  He sees this as a positive step for Vanguard and expects that the impact to ILCA-NA will be good.  Derek Stowe asked for comment on the status of the financial support by Vanguard to ILCA-NA.  Jones commented that Vanguard’s intention was to decrease that support in the future and that he expected that PSE would favor the same move.  Richardson and Campbell both spoke to the high level of impact of the ILCA-NA on the marketing of the Vanguard product and remarked that strong negotiation on behalf of the class would take place.Jones then summarized the Radial composite mast section project.  They are currently testing the third version of the part on a worldwide basis.  The intention of the new technology would be to broaden the weight range of the competitive Radial sailor, particularly to the lighter weight sailor.  The initial price range is for the part to be three times the cost of the current section with the idea that with proper care, only one section would need to be purchase and replacement needs would be minimal compared to the current non-composite product.  Emily Billing asked how the test program was structured.  Jones outlined that several coaches and team leaders in North American had been sent test sections for use with their groups.  He outlined that a formal testing procedure was in place with multiple users in varying conditions and forms provided by Vanguard to be completed by the testing group.  All feedback worldwide is expected to be collected and analyzed for a report to the ILCA World Council at their next meeting to be held in Spain in early October.  At that time it is expected that a decision will be made with respect to forwarding the idea to ISAF for possible approval as Olympic class equipment for use beginning after the 2008 Olympics.

The meeting was adjourned at 5:45pm.


Respectfully submitted,



Sherri Campbell

ILCA-NA Executive Secretary


May 31, 07May 31, 06$ Change% Change
Current Assets
Checking - San Diego4,488.0830,274.34-25,786.26-85.18%
Total Checking/Savings56,092.0730,274.3425,817.7385.28%
Accounts Receivable
Accounts receivable 5,465.002,480.002,985.00120.36%
Total Accounts Receivable5,465.002,480.002,985.00120.36%
Other Current Assets
Accounts Receivable Misc1,105.775,277.08-4,171.31-79.05%
Undeposited Funds0.00650.00-650.00-100.0%
Total Other Current Assets1,105.775,927.08-4,821.31-81.34%
Total Current Assets62,662.8438,681.4223,981.4262.0%
TOTAL ASSETS62,662.8438,681.4223,981.4262.0%
Long Term Liabilities
Future Memberships13,014.0012,468.00546.004.38%
Total Long Term Liabilities13,014.0012,468.00546.004.38%
Total Liabilities13,014.0012,468.00546.004.38%
Opening Bal Equity11,955.3611,955.360.000.0%
Retained Earnings-4,039.03-12,312.378,273.34-67.2%
Net Income41,732.5126,570.4315,162.0857.06%
Total Equity49,648.8426,213.4223,435.4289.4%
TOTAL LIABILITIES & EQUITY62,662.8438,681.4223,981.4262.0%



     YTD Oct 06-Sep 07BudgetActualActualActual
As of May 31, 2007Oct 06-Sep 07Oct 05-Sep 06Oct 04-Sep 05Oct 03-Sep 04
Ordinary Income/Expense
Laser World Credits9803,0002,9406,634
The Laser Sailor Ad Sales21,93530,00027,07523,75522,345
Mailing List Sales350
Google Ad Sales7811,5001,708
Merchandise Sales1002750
Vanguard Payments17,500 25,000 25,000 23,385 26,180
Total Income105,613139,500136,214135,498124,300
ExCom Expense
Executive Sec. Travel1,2418,0007,4647,1212,641
ExCom Expense - Other  0   420 2,520
Total ExCom Expense1,2418,0007,4647,5415,161
Member support250219404
District Support9903,0002,6842,0493,010
ILCA Dues (See Note below)23,00023,46241,61223,468
Bank Charges
Foreign Currency Exchange173
Credit Card Fees1,6194,0002,3182,5731,521
Bank Charges - Other61   18 194 339
Total Bank Charges1,6804,0002,3362,7672,034
TheLaser Sailor
Mailing Costs4,2377,0006,3625,4397,439
TheLaser Sailor - Other121       569
Total TheLaser Sailor15,53030,00033,11634,59721,438
Association Fees300400365360358
Web site hosting and design1,3635001,002600583
Online data base design5,2056,000
Professional Fees
Professional Fees - Other      495 0
Total Professional Fees3905003754951,000
Office Expense
Mail Machine Lease02521,492
Office Expense - Other56 100   394 1,313
Total Office Expense4,2408,8507,8419,96512,376
Contract labor50,000
Contract labor - Other30,000   45,000 43,950 40,800
Total Contract labor31,006 50,000 47,184 44,707 44,243
Total Expense63,880 138,500 127,941 147,660 116,985
Net Income41,733 1,000 8,273 -12,162 7,315
NOTE: Our payable to the International Class is 7.5 British pounds per member as of August 31st.  Estimated expense as of May 31, 2007 in US dollars is $27.863

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