House of DelegatesMay 22, 2010

Treasurer ReportFinancial Review

Fred Vogelgesang, Treasurer

Financial Report – 4/30/2010

Excludes Zones

Profit & LossStatement

1/1/08 to 12/31/2008

1/1/09 to 12/31/2009

1/1/10 to 4/30/2010

Total income: $1,487,082 $1,537,482 $293,334

Total Expense: $1,522,790 $1,469,695 $256,730

Net Ordinary Income: -$35,708 $67,787 $36,605

Other Income: -$376,186 $324,540 $78,099

Net Income: -$411,894 $392,326 $114,704

Financial Report – 4/30/2010

Excludes Zones

Balance Sheet 12/31/2008 12/31/2009 4/30/2010

Cash On Hand $0 $7,777

1- Business Checking $6,766 $8,742 $5,285

3- Business Savings $247,980 $364,544 $203,559

Total Current Assets: $254,746 $381,063 $208,844

10- Investment Wells $1,258,319 $1,582,858 $1,660,957

Total Assets: $1,513,065 $1,963,921 $1,869,801

USA S Liability $173,205 $231,735 $22,912

Total Equity: $1,513065 $1,732,186 $1,846,889

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2010 BudgetSources of Income

$ 1,130,840 – Membership Fees** $ 242,728 net of pass through

$ 304,100 – Meet Fees $ 61,320 – Co-Pays $ 600 – Interest $ 14,350 – Other Sources

$ 1,511,210.00 – Total Income****$ 623,098 net of pass through

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2010 BudgetSpending Categories

$ 888,112 – USA Swim Pass Through $ 115,909 – Administrative $ 218,205 – Age Group (All-Star & Camps) $ 178,175 – Senior (Meets, Travel & Camp) $ 70,102 – Volunteer Management $ 63,800 – Other Programs (Diversity, OW & Others) $ 35,000 – Zones (All-Star Meet)

$1,566,291 – Total Budget Spend*

* $ 678,179 net of pass through

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Administrative Expenses Expense Line Items

Includes Telephone, Postage, Supplies Computer Repair & Maintenance Swim Guide, Rule Books Treasurer Fees, Insurance, Web & Church Donation Pacific Swimming Office Contractor Computer Services for Registration & Membership

Spending History 2007 Actual - $ 52,892 2008 Actual - $110,893 2009 Actual - $56,773 2010 Budget - $115,909

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Age Group Swimming

2009 Program Results 4 camps – 160 swimmers, 3 All-Star Meets – 240 swimmers Local competition – 56,577 swimmers in 298,333 swims, 5,577

relays at 101 meets

Spending History 2007 Actual - $166,734 2008 Actual - $267,125 2009 Actual - $378,304 2010 Budget - $218,205

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Senior Swimming

2009 Program Results Travel assistance to 6 national meets for 186 swimmers Local competition for 5,450 swimmers in 27,392 swims,

261 relays at 13 meets Subsidized 10 Jr-Sr Meets

Spending History 2007 Actual - $134,301 2008 Actual - $207,740 2009 Actual - $159,034 2010 Budget – $178,175

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Volunteer Management 2009 Program Results

Supervision of 120 clubs, 19,663 athletes, 1,234 non-athlete members, Sanctioning of 175 events

Recruit, train, retain officials and volunteers Manage performance statistics for swims, Pacific individual,

relay & all-star records Manage membership records, etc.

Spending History 2007 Actual - $30,626 2008 Actual - $53,080 2009 Actual - $80,291 2010 Budget - $70,102

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Other Programs 2009 Program Results

Granted money to 5 Diversity Programs 2009 – Adaptive Swimming Budget Approved

Spending History 2007 Actual - $15,000 2008 Actual - $26,250 2009 Actual - $22,337 2010 Budget - $63,850

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Zone Management

2009 Program Results Operate 5 geographic zones Recruit, train & retain meet officials Sanction and manage zone meets Sponsor zone and league championships Conduct Zone All-Star Competition

Spending History 2007 Actual - $33,952 2008 Actual - $36,000 2009 Actual - $32,893 2010 Budget – $35,000

Financial Actions Update

Excludes Zones

1. Institute Multi-year Strategic Planning & Budgeting Process

2. Optimize operational, retained, investment and/or endowment funds

3. Organize the treasurer, finance and audit offices and responsibilities

4. Re-engineer the administrative processes and offices

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Budget – Decisions for 2011? Influence Income

Analyze Membership Fees – Non-Athletes, Clubs, Organizations Determine PC Adder for 2011-2012

Effective 9/1/2011

Evaluate Meet entry fees including $5.00 Participation Fee Cost to rent meet facilities increasing & under pressures. Differentiate LC vs. SC fee structure? Evaluate & Benchmark against other LSC for similar meets

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Budget – Decisions for 2011?

Prioritize Major Program Funding Evaluate Non-Athlete Expenses

Administrative, Volunteer & Zone All-Star Meet Clinics, HOD Meetings, Convention & Officials Travel

Age Group Swimming Determine All-Star Meet priorities and analyze overall expenses of trips.

Senior Swimming Evaluate the number of meets that each athlete can receive

assistance and/or adjust the amount of adder per meet provided. Determine senior meet subsidy strategy.

New Program Strategies Open Water & Adaptive objectives Club Development Needs! Coach Development Needs

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Budget – Decisions for 2011? Initiate 2011 – 2014 Budget Process

Schedule – Multiple Year Planning – Evaluation & vetting – Approval Criteria

Finally – 2010 Wrap-Up

Are the budgeted programs for 2010? Planned Implemented On Track

Are there new 2010 Programs needs? How can we direct financial resources for

immediate benefits?