USA$TAEKWONDO,SPECIAL,BOARD,MEETING,MINUTES .../media/USA_Taekwondo/Documents/2015 June...TAG-65b To BoD FEB 2015 pg5 BUDGET 2015 6 EXECUTIVE SUMMARY (Cont.) by Bruce Harris, CEO Dan

USA$TAEKWONDO,SPECIAL,BOARD,MEETING,MINUTES,–,17,MARCH,2015,!

!V1.2!TAG)75b! 1!

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Members:! Devin!JOHNSON!! –!Independent!Director,!BOD!Chair!! Russell!AHN! –!Affiliated!Organization!Director!! Shaila!BETTADAPUR!!! –!Independent!Director!(Audit!Committee!Chair)!! *Dean!EKEREN! –!Independent!Director!!(Nominating!Committee!Chair)!! John!ENSMINGER! –!Independent!Director!! Ian!HARDMAN! –!Independent!Director!(Strategic!Plan!Com.!Chair)!! **John!HOLLOWAY!! –!Referee!Director!! **Terrence!JENNINGS! –!Athlete!Director!! Lynda!LAURIN! –!Athlete!Director!! Luciano!MEDINA! –!Coach!Director!! Beth!PINCKNEY! –!Independent!Director!(Development!Comm!CoQChair)!! ***Jeff!PORTER! –!Independent!Director!(Development!Comm!CoQChair)!! Don!REYNOLDS! –!Independent!Director!(Governance!Committee!Chair)!! Ron!SOUTHWICK! –!Athlete!Director!! ****Seth!WILSON! –!Club!Director!! !

, *!Joined!at!7:20.!!**!Competition!in!Mexico.!!***!Conflict!with!Night!School!Course.!!****!Joined!at!7:10pm.!!!!

,1., Call, To, Order, –, Devin, Johnson, , Q! TeleQconference! meeting! was! called! to! order! at!7:10pm.! This! meeting! was! conducted! in! Executive! Session! and! was! not! open! to! the!Membership.,!2., Roll, Call–, 7:11pmET! by!Marco!Mack:! Ten! Directors!were! present! at! the! start! of! the!meeting!to!establish!a!quorum.,

a.! John!Holloway,!Terrence!Jennings,!identified!as!excused!absence.,b., Officers!in!attendance:!CEO!Bruce!Harris,!Sec.!Marco!Mack.!c.! Guest!in!attendance:!Mr.!Stephen!Hess.!d., Director! Seth!Wilson! joined!at!7:10!and!Dean!Ekeren! joined!at!7:20.!Both! arrived!prior!to!the!first!Board!Motion.,

,3.,Consent,Agenda,–No!Consent!Agenda!for!this!Meeting.,,4.,USAT,2015,Budget, ,

Mr.!Harris!presented!the!2015!Budget!for!approval.!!The!USAT!Board!Directors!received!the!budget!proposal!prior!to!the!meeting,!discussed!the!budget!proposal!in!some!detail!during!the!meeting,!asked!questions!for!clarification,!and!approval!the!proposed!budget.!

!BOARD,MOTION:!To!accept!the!2015!USAT!Budget.!MOTION,PASSED!by!unanimous!vote.!

! ,5.,Adjournment,,, BOARD,MOTION:!To!adjourn!the!meeting!at!7:30pmET.!!! MOTION,PASSED!by!unanimous!vote.!!Submitted!by:!Marco!Mack!!! ! ! ! Approved!by!the!Board:!June!1

! Special!Board!Meeting!MINUTES)Attachments!March!17,!2015! !!

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Contents!

USAT!2015!BUDGET!!!..................................................................................................................................!!!A!

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2015BUDGET

TAG-65b To BoD FEB 2015 pg1

BUDGET 2015 2

TABLE OF CONTENTSPage 3 Executive SummaryPage 7 2015 Budget vs. 2014 Actual - SummaryPage 9 2015 Budget vs. 2014 Actual - AdministrationPage 10 2015 Budget vs. 2014 Actual - High PerformancePage 11 2015 Budget vs. 2014 Actual - EventsPage 14 2015 Budget vs. 2014 Actual - MembershipPage 15 2015 Accrual BudgetPage 17 2015 Cash BudgetPage 19 2015 Accrual vs. Cash Budget Variance with notesPage 26 2015 Accrual vs. Cash Budget Variance notes Page 31 2015 Statement of Financial Position

2015BUDGET


BUDGET 2015 3

EXECUTIVE SUMMARYby Bruce Harris, CEOThe 2015 Annual Budget Proposal for USA Taekwondo is a much different document than has been previously developed and submitted. This document is a collaborative effort of all concerned National Office Staff parties. As a result, we believe it to be more reflective of actual financial projections. Still, we have used a conservative ap-proach in developing the numbers reflected in the proposed 2015 Annual Budget.

The 2014 Annual Budget for USA Taekwondo was, from its inception, a flawed document in many ways. Guesstimates were speculative and they erred on the side of being anything but conservative. It is our belief that the conservative approach used in developing the 2015 Annual Budget will result in a more accurate portrayal of financial results.

Here are some specifics regarding several areas of the 2015 Annual Budget, by category.

High Performance

In 2014 there was significant overspending in the area of High Performance. The strategy for 2015 is very different as a result of that overspending.

The bottom line result is that we will not be supporting our athletes as well as we would like, but we understand that the changes are deemed essential in order to stabilize our organization. We will seek ways to improve support in this vital area in 2016 and beyond.

The United States Olympic Committee (USOC) is reducing the funding limits in the area of High Performance for 2015, to include the removal of $50k of support for our National Team Coach, and the removal of $35k support from our High Performance Director. We have made the organizational decision to assume responsibilities for these costs.

USOC will also not be providing any funding for the Cadet World Championships in 2015. In turn, this resulted in an organizational decision not to fund any Cadet athletes to participate in the 2015 Cadet World Championships. We will fund just coaches, staff, and medical personnel for this event.

These changes result in USA Taekwondo using USOC funding only to support those athletes ranked in the World Taekwondo Federation (WTF) Top-15, as well as their coaches to events that are step-ping-stones to qualifying for the 2016 Rio Olympics. In 2014 we provided support for a larger number of athletes and their coaches to compete in international Open events around the world. Of necessi-ty, this will be different in 2015 as we take a tighter grip on the finances.

A further cost-reduction measure is to take a limited number of entourage personages (Coaches, Staff, Medical) on trips with athletes. In 2014 this was not always the case. We foresee the total num-


BUDGET 2015 4

EXECUTIVE SUMMARY (Cont.)by Bruce Harris, CEOber of athletes being supported with funding to international Open events at six (6) or eight (8) ath-letes, based on their WTF Olympic ranking.

Throughout 2015 we will be looking for ways to increase revenue to allow us to support our athletes better in 2015 and beyond. This includes initiatives such as overhauling our Coach Identification and Development Program (CIDP), the launch of a structured donor program, increases in sponsorship and membership, and the possible introduction of the third or fourth quarter national event that would generate revenue and profits.

National Events

Events are currently our largest revenue generating opportunity, but are also the riskiest in terms of the potential for financial loss. Our 2015 strategy is one of controlling costs, increasing rebate reve-nues, and reducing risk as much as possible.

In examining the budget figures for events line by line, this may seem a bit contradictory since costs for our National Championships are significantly higher than they were in 2014. However, it must be noted that the 2015 Nationals are being held in Texas, where there is a ‘state rebate’ that essentially means that all direct expenses qualify for reimbursement. Our projection is for a $287k rebate on direct costs spent on our National Championships in Texas, and this is a conservative projection that could end up being much higher (up to a maximum of $500k).

This means that the 2015 National Championships have the potential to be much more profitable.

Despite the possibility for a high profit margin, the staff embarked on a dramatic cost cutting and controlling exercise in order to further reduce risk and increase profitability. An example of these measures include a reduction in the number of competition rings that will be used, which carries a commensurate reduction in the number of referees and officials that will be required, along with their hotel room and meal costs. The cost reduction policy was applied line by line, to include reducing the per diem meal allowance for the event.

The other major International Event hosted by USAT is the United States Open Taekwondo Champi-onships which recently received the WTF rating as a G-2 event. The importance of this rating must be understood, and it is a significant victory for USA Taekwondo. While it is unfortunate that the pro-cess took so long we still expect to see a significant positive effect on registration numbers despite the late notice to competitors.

The 2015 U.S. Open is projected to break even, but factors such as the lateness of the G-2 rating con-firmation, relocation to the east coast, and the earlier calendar time slot are all unpredictable and, in some cases, unprecedented variables that could affect the accuracy of our projection, either posi-


BUDGET 2015 5

EXECUTIVE SUMMARY (Cont.)by Bruce Harris, CEOtively or negatively. It is important that we assess (calmly and rationally, the effects of these variables in the event post assessment to determine our future strategy.

Still, we project a much-improved year for our National Events in 2015 as a result of the decisions made, and we aim to continue the positive trend into 2016 and beyond.

Membership

In line with our other departments, our membership projections are conservative as we face signifi-cant obstacles to growth, both technologically and ideologically, obstacles that must be overcome in the early part of 2015. If we can unite and overcome these obstacles, we feel that we can significantly outperform in this area.

Projections are largely static in relation to 2014 numbers, with even a slight reduction in numbers and revenue considered a possibility. With 2015 being very much a year of organizational stability, with increased focus on fiscal responsibility, we were conscientious in being conservative and, thus, in not over-projecting or over-budgeting.

HangAStar (our membership registration and event management program) is a huge problem for membership retention and growth. It contains no marketing, communications, or automation features, it cannot process automatic renewals, cannot process family applications online, does not allow for upselling, cannot provide accurate membership numbers, etc.

Investment is required in this area in order for our organization to perform appropriately. Once we re-solve the issue of replacing HangAStar, significant growth in membership will become a much more realistic possibility.

A second major problem is the public’s perception of USAT. It is believed that a significant number of people are waiting to see evidence of change at USAT before returning or before joining. Improv-ing our financial stability and being better able to support athletes will help bring about the desired change in public opinion.

The third major obstacle is that of value. For individual members there is little incentive to join and this needs to be resolved. However, in our current financially restrictive climate it remains a challenge. We caution against increasing individual membership dues in 2015 and would recommend announc-ing dues increases in 2016, thus allowing time to develop workable incentives for individual members.

Club Memberships fare better, and are easier to improve in terms of cost effectiveness. Club owners want incentives that bring value to them registering individual members for USAT. Increased prestige is the piece that we can offer to incentivize club owners and to increase membership numbers.


BUDGET 2015 6

EXECUTIVE SUMMARY (Cont.)by Bruce Harris, CEODan Certification Program

The USA Taekwondo Dan Certification is, at present, largely self-sufficient and a program that turns a small profit from year to year.

Essentially, USAT collects fees for services and covers our own costs plus a profit for processing Dan applications. The remainder of the money is sent to Kukkiwon, the World Taekwondo Headquarters.

The 2015 Annual Budget reflects this state of affairs and, in line with other departments, is conserva-tive in its projections.

As we progress through 2015 we are confident that we have a strategy in place that will restructure our Dan Certification Program and fees in a way that will mean the 2016 Annual Budget can include increased profits from our Dan Certification Program, both by working with Kukkiwon for a renego-tiated deal that better benefits USAT, and through US-based initiatives that are independent of the Korean organization.


BUDGET 2015 7

10:23 PM 12/20/14 Accrual Basis

USA Taekwondo2015 Budget vs 2014 Actual

Summary

Budget Actual Difference2015 2014 2015 vs 2014

Ordinary Income/ExpenseIncome

4001 · Certification Fees 175,000.00 176,915.73 -1,915.734002 · Contributions 70,000.00 59,709.88 10,290.12 14003 · Event Revenue 1,073,500.00 1,145,845.30 -72,345.30 24004 · Fees - Seminars & Workshops 160,000.00 154,761.28 5,238.724007 · Membership Dues 538,000.00 587,628.83 -49,628.83 34008 · Royalties & Commissions 48,000.00 50,927.87 -2,927.874009 · Sales 29,500.00 8,200.09 21,299.91 44010 · Sponsorship 489,000.00 419,613.14 69,386.86 54011 · State Dues & Fees 125,900.00 140,669.00 -14,769.00 64012 · USOC Funding 449,200.00 574,918.96 -125,718.96 74013 · Rebate Revenue 306,000.00 0.00 306,000.00 8

Total Income 3,464,100.00 3,319,190.08 144,909.92Gross Profit 3,464,100.00 3,319,190.08 144,909.92

Expense5000 · Airline Travel 241,200.00 365,094.84 -123,894.84 950011 · Bad Debt Expense 0.00 3,167.00 -3,167.005002 · Contract Services 586,250.00 571,469.96 14,780.04 10500110 · Depreciation & Amortization 16,416.00 16,416.00 0.00Z5003 · Finance & Bank Charges 51,095.00 81,391.54 -30,296.54 115004 · Fees 262,730.00 296,242.57 -33,512.57 125005 · Freight & Shipping 20,400.00 16,465.71 3,934.295006 · Ground Travel 15,700.00 12,516.20 3,183.805008 · Equipment 91,250.00 125,973.93 -34,723.93 13N5009 · Insurance Premiums 175,860.00 160,801.49 15,058.515011 · Rooms & Lodging 325,480.00 368,788.63 -43,308.63 145011.1 · Rooms & Lodging - OTC 32,400.00 42,479.00 -10,079.005015 · Food & Beverage 124,600.00 106,047.88 18,552.12 155016 · Medals, Awards & Gifts 26,350.00 25,740.60 609.40N5017 · Overhead Expenses 90,386.00 81,855.97 8,530.03 16N5018 · Payroll 518,450.00 480,530.54 37,919.46 17N5019 · Payroll Tax Expense 47,000.00 42,542.97 4,457.03 185020 · Meal Allowance 61,650.00 62,507.90 -857.905023 · Rental 503,096.00 252,197.86 250,898.14 195025 · Subscriptions and Dues 14,930.00 27,578.25 -12,648.25 205027 · Supplies - General 14,600.00 18,369.52 -3,769.525028 · Supplies - Medical 1,350.00 4,487.88 -3,137.88

Total Expense5030 · Visa & Travel Services 10,000.00 16,568.56 -6,568.56 21Total Expense 3,231,193.00 3,179,234.80 51,958.20Net Income 232,907.00 139,955.28 92,951.72

1 Increase in the number of Aspire Camps held will mean more donations 2 Used conservative estimates for US Open and National Championships3 Used conservative estimates based on the 6%-8% decline in 2014 membership continuing in 20154 Per table fees for awards dinner held at US National Championships5 Vision USA increased cash sponsorship from $45,000 to $145,000. ($30,000 from 2015 due in 2014)6 Used conservative estimates for fees related to individual State tournaments 7 High Performance PPA funding is reduced for 20158 State of Texas rebate eligible on all National Championship direct expenses (see separate US Nationals Budget vs Actual report)9 High Performance - fewer tournaments in 2015 and a reduced number of people going on tournament trips

10 Safe Sport mandatory $30,000 one year contract11 End of four year third party fee reduction contract. We negotiated a lower rate ourselves.12 High Performance - Top 15 Athlete and Coach stipends are reduced for 201513 VIK Apparel received from Vision and Truescore was more than contracted amounts in 201414 High Performance - fewer tournaments in 2015 and a reduced number of people going on tournament trips15 Hospitality costs for Awards dinner held during at US National Championships (See note 4 above for related income)16 Printing costs are expected to be higher for signage at US Open and National Championship events

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2015 BUDGET VS. 2014 ACTUAL - SUMMARYTAG-65b To BoD FEB 2015 pg7

BUDGET 2015 8


USA Taekwondo2015 Budget vs 2014 Actual

Summary


17 Carryover of increased staff related salary costs implemented during 2014 18 Payroll taxes related to carryover of staff increase during 2014 19 See separate US Nationals Budget vs Actual report20 A one year contract with SIM Partners to provide USAT Club webpages expires in March 201521 High Performance - fewer tournaments in 2015 and reduced number of people going on trips

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2015 BUDGET VS. 2014 ACTUAL - SUMMARY (cont.)TAG-65b To BoD FEB 2015 pg8

BUDGET 2015 9


USAT Taekwondo2015 Budget vs 2014 Actual

Administration

Total Administration Total Administration Total Administration



4002 · Contributions 70,000.00 51,509.88 18,490.12 14012 · USOC Funding 39,700.00 31,500.00 8,200.00 2

Total Income 109,700.00 83,009.88 26,690.12Gross Profit 109,700.00 83,009.88 26,690.12

Expense 0.005000 · Airline Travel 11,500.00 11,597.50 -97.5050011 · Bad Debt Expense 0.00 3,167.00 -3,167.005002 · Contract Services 113,700.00 81,136.20 32,563.80 3500110 · Depreciation & Amortization 16,416.00 16,416.00 0.00Z5003 · Finance & Bank Charges 6,000.00 10,544.29 -4,544.29 45004 · Fees 28,650.00 28,443.83 206.175006 · Ground Travel 650.00 443.10 206.905008 · Equipment 0.00 908.20 -908.20N5009 · Insurance Premiums 107,807.00 94,527.54 13,279.46 55011 · Rooms & Lodging 2,000.00 4,925.94 -2,925.945015 · Food & Beverage 3,100.00 1,593.67 1,506.33N5017 · Overhead Expenses 22,950.00 21,047.75 1,902.25N5018 · Payroll 518,450.00 480,375.53 38,074.47 6N5019 · Payroll Tax Expense 47,000.00 42,542.97 4,457.03 75023 · Rental 2,500.00 2,222.00 278.005025 · Subscriptions and Dues 1,500.00 1,410.35 89.655027 · Supplies - General 2,200.00 1,650.48 549.52

Total Expense 884,423.00 802,952.35 81,470.65Net Ordinary Income -774,723.00 -719,942.47 -54,780.53

Net Income -774,723.00 -719,942.47 -54,780.53

1 Increase in the number of Aspire Camps held will mean more donations 2 2015 USOC grants for shared communications contractor @ $1,800 per quarter plus Board training grant of $2,5003 Safe Sport mandatory $30,000 one year contract4 End of four year third party fee reduction contract. We negotiated a lower rate ourselves.5 2015 Increase in General Liability and Umbrella coverage6 Carryover of increased staff related salary costs implemented during 2014 7 Payroll taxes related to staff increases implemented in 2014

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2015 BUDGET VS. 2014 ACTUAL - ADMINISTRATIONTAG-65b To BoD FEB 2015 pg9

BUDGET 2015 10


USA Taekwondo2015 Budget vs 2014 Actuals

High Performance

High Performance High Performance High PerformanceTOTAL TOTAL TOTAL

2015 Budget 2014 Actual 2015 vs 2014Ordinary Income/Expense

Income4002 · Contributions 0.00 8,200.00 -8,200.00 14003 · Event Revenue 77,000.00 29,750.00 47,250.00 24004 · Fees - Seminars & Workshops 105,000.00 105,011.01 -11.014009 · Sales 0.00 156.25 -156.254010 · Sponsorship 50,000.00 69,270.18 -19,270.18 34012 · USOC Funding 311,000.00 422,937.00 -111,937.00 4

Total Income 543,000.00 635,324.44 -92,324.44Gross Profit 543,000.00 635,324.44 -92,324.44

Expense5000 · Airline Travel 167,500.00 286,089.37 -118,589.37 55002 · Contract Services 87,350.00 88,959.92 -1,609.92Z5003 · Finance & Bank Charges 2,625.00 2,647.27 -22.275004 · Fees 53,980.00 72,882.54 -18,902.54 65005 · Freight & Shipping 200.00 0.00 200.005006 · Ground Travel 1,200.00 2,136.35 -936.355008 · Equipment 51,250.00 77,180.14 -25,930.14 7N5009 · Insurance Premiums 2,650.00 6,546.00 -3,896.00 85011 · Rooms & Lodging 84,280.00 113,360.93 -29,080.93 95011.1 · Rooms & Lodging - OTC 32,400.00 27,269.00 5,131.005015 · Food & Beverage 48,350.00 29,262.43 19,087.57 95016 · Medals, Awards & Gifts 0.00 40.00 -40.00N5017 · Overhead Expenses 8,350.00 8,757.18 -407.185020 · Meal Allowance 5,500.00 5,584.90 -84.905023 · Rental 0.00 807.75 -807.755027 · Supplies - General 350.00 579.23 -229.235028 · Supplies - Medical 1,350.00 4,487.88 -3,137.885030 · Visa & Travel Services 10,000.00 16,533.56 -6,533.56 10

Total Expense 557,335.00 743,124.45 -185,789.45Net Income -14,335.00 -107,800.01 93,465.01

1 Jr. World Championship designated donations in 2014 not expected in 20152 Increased the number of Athlete Development Camps held in 20153 The value of Vision VIK uniform set apparel was not known for 2015 and is not included in the 2015 budget4 USOC funding for all NGBs was cut in 2015. High Performance was reduced from $399,500 to $305,000.

USOC OTC VIK is also lower on the 2015 budget.5 High Performance - fewer tournaments in 2015 and a reduced number of people going on tournament trips6 USOC Top 15 Coach support funding and budgeted expenses were reduced for 2015. 7 VIK Apparel received from Vision and Truescore was more than contracted amounts in 20148 Overseas travel insurance is lower for 2015 because of fewer participants going to tournaments

Meal expense.9 Hotel bills often include meals and when compared to budget can overstate Rooms & Lodging expense while understating

10 High Performance - fewer tournaments in 2015 and a reduced number of people going on tournament trips

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2015 BUDGET VS. 2014 ACTUAL - HIGH PERFORMANCETAG-65b To BoD FEB 2015 pg10

BUDGET 2015 11

2015 BUDGET VS. 2014 ACTUAL - EVENTS

12:27 AM 12/21/14 Accrual Basis

USAT Taekwondo

2015 Budget vs 2014 Actual

Events

Total 03000 Events Total 03000 Events Total 03000 Events2015 Budget 2014 Actuals 2015 vs 2014


4003 · Event Revenue 996,500.00 1,085,845.00 -89,345.00 14008 · Royalties & Commissions 48,000.00 50,891.15 -2,891.154009 · Sales 29,000.00 7,694.81 21,305.19 24010 · Sponsorship 439,000.00 350,342.96 88,657.04 34011 · State Dues & Fees 125,900.00 140,669.00 -14,769.00 44012 · USOC Funding 23,500.00 40,881.96 -17,381.96 54013 · Rebate Revenue 306,000.00 0.00 306,000.00 6

Total Income 1,967,900.00 1,676,324.88 291,575.12Gross Profit 1,967,900.00 1,676,324.88 291,575.12

Expense5000 · Airline Travel 61,200.00 66,053.47 -4,853.475002 · Contract Services 352,450.00 394,500.61 -42,050.61 7Z5003 · Finance & Bank Charges 21,675.00 46,028.66 -24,353.66 85004 · Fees 61,100.00 35,580.34 25,519.66 95005 · Freight & Shipping 19,200.00 16,454.83 2,745.175006 · Ground Travel 13,850.00 9,897.21 3,952.795008 · Equipment 29,500.00 37,012.66 -7,512.66 105011 · Rooms & Lodging 239,200.00 250,064.96 -10,864.965011.1 · Rooms & Lodging - OTC 0.00 15,210.00 -15,210.00 115015 · Food & Beverage 73,150.00 74,541.78 -1,391.785016 · Medals, Awards & Gifts 26,050.00 25,150.60 899.40N5017 · Overhead Expenses 36,800.00 21,474.39 15,325.61 125020 · Meal Allowance 56,150.00 56,923.00 -773.005023 · Rental 500,596.00 249,168.11 251,427.89 135027 · Supplies - General 4,850.00 10,551.24 -5,701.24 14

Total Expense 1,495,771.00 1,308,611.86 187,159.14Net Ordinary Income 472,129.00 367,713.02 104,415.98

1 Conservative estimates used for US Open and National Championships2 Per table fees for awards dinner held at US National Championships3 Vision USA increased cash sponsorship from $45,000 to $145,000. ($30,000 from 2015 due in 2014)4 Used conservative estimates for fees related to individual State tournaments 5 2014 includes $15,210 for USOC - Olympic Training Center use during Team Trials held in Colorado Springs6 State of Texas rebate eligible on all National Championship direct expenses (see separate US Nationals Budget vs Actual report)7 The number of Event referees were reduced for 2015. Dartfish scoring service costs were also reduced in 20158 End of four year third party fee reduction contract. We negotiated a lower rate ourselves.9 Increased number of GALs (Global Athlete Licenses) expected in 2015 (We earn $5 per GAL processed)

10 Events technology equipment purchased in 2014 will not occur in 201511 2014 includes $15,210 for USOC - Olympic Training Center use during Team Trials held in Colorado Springs12 Increased printing costs for signage at US Open and National Championships13 Venue rental costs at National Championships are eligible for Texas state rebate (see separate Nationals Budget vs Actual report)14 The budget amount is probably low for 2015 as no changes are anticipated for this account


BUDGET 2015 12

2015 BUDGET VS. 2014 ACTUAL - NATIONAL CHAMPIONSHIPS


US National Championships2015 Budget vs 2014 Actual

2015 Budget 2014 Actual DifferenceOrdinary Income/Expense

Income4003 · Event Revenue

40080 · Registration and Entry Fees 525,000.00 516,927.00 8,073.00 1

40094 · Ticket Sales 150,000.00 194,235.00 -44,235.00 1

Total 4003 · Event Revenue 675,000.00 711,162.00 -36,162.00

4008 · Royalties & Commissions 40,000.00 37,449.75 2,550.25

4009 · Sales40093 · Other Sales 26,000.00 3,582.17 22,417.83 2

40095 · Vendor Booth Sales 2,000.00 2,500.00 -500.00

Total 4009 · Sales 28,000.00 6,082.17 21,917.83

4010 · Sponsorship40101 · Rebates-Hotels 52,500.00 28,453.69 24,046.31 3

40103 · Sponsorship Fees 93,000.00 93,000.00 0.00

40104 · VIK 72,000.00 73,743.68 -1,743.68

Total 4010 · Sponsorship 217,500.00 195,197.37 22,302.63

4012 · USOC Funding40124 · United VIK 7,500.00 12,738.38 -5,238.38

Total 4012 · USOC Funding 7,500.00 12,738.38 -5,238.38

4013 · Rebate Revenue 287,000.00 0.00 287,000.00 4

Total Income 1,255,000.00 962,629.67 292,370.33

Gross Profit 1,255,000.00 962,629.67 292,370.33

Expense5000 · Airline Travel

5000.1 · Air Travel 20,000.00 10,871.55 9,128.45

5000.2 · VIK Air Travel 7,500.00 13,061.50 -5,561.50

Total 5000 · Airline Travel 27,500.00 23,933.05 3,566.95

5002 · Contract Services50018 · Accounting Services 1,800.00 1,800.00 0.00

50022 · Event Specialists 25,000.00 23,500.00 1,500.00

50024 · Medical Services 24,500.00 25,186.25 -686.25

50025 · Referee Services 60,000.00 57,815.00 2,185.00

50030 · Scoring 64,500.00 66,243.68 -1,743.68

50026 · Security Services 10,000.00 8,076.81 1,923.19

50027 · Technology 10,000.00 20,000.00 -10,000.00 5

50033 · Venue Labor 12,000.00 11,480.61 519.39

Total 5002 · Contract Services 207,800.00 214,102.35 -6,302.35

Z5003 · Finance & Bank Charges 11,550.00 10,616.20 933.80

5005 · Freight & Shipping 6,500.00 10,443.64 -3,943.64 6

5006 · Ground Travel 1,500.00 4,467.54 -2,967.54

5008 · Equipment50081 · Sports Equipment 500.00 0.00 500.00

50082 · IT Hardware & Software 17,500.00 17,500.00 0.00

50083 · Electronic Equipment 800.00 0.00 800.00

50084 · Apparel 3,200.00 3,276.69 -76.69

Total 5008 · Equipment 22,000.00 20,776.69 1,223.31

5011 · Rooms & Lodging 155,000.00 173,652.30 -18,652.30 7

5015 · Food & Beverage50151 · Meals 35,000.00 47,582.19 -12,582.19 8

50152 · Hospitality 17,000.00 0.00 17,000.00 9

Total 5015 · Food & Beverage 52,000.00 47,582.19 4,417.81

5016 · Medals, Awards & Gifts 14,000.00 12,550.00 1,450.00

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BUDGET 2015 13


US National Championships2015 Budget vs 2014 Actual

2015 Budget 2014 Actual DifferenceN5017 · Overhead Expenses

50172 · Telephone - Cell 0.00 56.06 -56.06

50174 · Information Technology 2,500.00 0.00 2,500.00

Z5022 · Printing & Copying 15,000.00 10,425.75 4,574.25 10

Total N5017 · Overhead Expenses 17,500.00 10,481.81 7,018.19

5020 · Meal Allowance 34,500.00 44,488.00 -9,988.00 11

5023 · Rental50231 · Rental - A/V 5,000.00 6,594.63 -1,594.63

50232 · Rental - Bleachers & Barricades 130,000.00 130,000.00 12

50233 · Rental - Competition Space 156,646.00 35,038.86 121,607.14 13

50235 · Rental - Venue Buildout 60,000.00 59,807.00 193.00

50237 · Rental - Vehicles 800.00 714.85 85.15

50238 · Rental - Equipment 1,200.00 280.00 920.00

50239 · Rental - Communications 200.00 0.00 200.00

50241 · Rental - Electrical 13,000.00 12,245.00 755.00

Total 5023 · Rental 366,846.00 114,680.34 252,165.66

5027 · Supplies - General 2,500.00 4,375.07 -1,875.07

Total Expense 919,196.00 692,149.18 227,046.82

Net Ordinary Income 335,804.00 270,480.49 65,323.51

1 Conservative estimates were used on the 2015 budget

2 Per table fees for awards dinner held at US National Championships3 USAT is using a contracted hotel booking agency starting in 2015. The 2015 amount is an estimate from the booking agency.

4 State of Texas rebate eligible on all National Championship direct expenses (see separate US Nationals Budget vs Actual report)5 We are not using as much Dartfish event technology equipment as in the past

6 This is the estimated cost from Facker Transportation to move the event equipment trailer to Ausitn, TX

7 USAT is using a contracted hotel booking agency starting in 2015. The 2015 amount is an estimate from the booking agency.

8 Venue lunch catering costs for referees, tournament committee members, and staff were reduced by choosing a less expensive option

9 USA Taekwondo awards dinner is being held at Nationals

10 Increased cost for additional signage at Venue

11 Dinner per diems paid to referees, tournament committee members, and staff were reduced

12 These are among the direct costs qualifying for the State of Texas rebate (See note 4 above)

13 These are among the direct costs qualifying for the State of Texas rebate (See note 4 above)

Page 2 of 2

2015 BUDGET VS. 2014 ACTUAL - NATIONAL CHAMPIONSHIPS (cont.)TAG-65b To BoD FEB 2015 pg13

BUDGET 2015 14

2015 BUDGET VS. 2014 ACTUAL - MEMBERSHIP SERVICES

12/21/14 Accrual Basis

USA Taekwondo

2015 Budget vs 2014 Actual

Membership Services

Member Services Member Services Difference2015 Budget 2014 Actuals 2015 vs 2014


4001 · Certification Fees 175,000.00 176,915.73 -1,915.73 14003 · Event Revenue 0.00 30,250.30 -30,250.30 24004 · Fees - Seminars & Workshops 55,000.00 49,750.27 5,249.73 34007 · Membership Dues 538,000.00 587,628.83 -49,628.83 44008 · Royalties & Commissions 0.00 36.72 -36.724009 · Sales 500.00 349.03 150.974012 · USOC Funding 75,000.00 79,600.00 -4,600.00 5

Total Income 843,500.00 924,530.88 -81,030.88Gross Profit 843,500.00 924,530.88 -81,030.88

Expense5000 · Airline Travel 1,000.00 1,389.50 -389.505002 · Contract Services 32,750.00 6,873.23 25,876.77 6Z5003 · Finance & Bank Charges 20,795.00 22,171.32 -1,376.325004 · Fees 119,000.00 159,335.86 -40,335.86 75005 · Freight & Shipping 1,000.00 10.88 989.125006 · Ground Travel 0.00 39.54 -39.545008 · Equipment 10,500.00 10,872.93 -372.93N5009 · Insurance Premiums 65,403.00 59,727.95 5,675.05 85011 · Rooms & Lodging 0.00 436.80 -436.805015 · Food & Beverage 0.00 650.00 -650.005016 · Medals, Awards & Gifts 300.00 550.00 -250.00N5017 · Overhead Expenses 22,286.00 30,576.65 -8,290.65 9N5018 · Payroll 0.00 155.01 -155.01 105025 · Subscriptions and Dues 13,430.00 26,167.90 -12,737.90 115027 · Supplies - General 7,200.00 5,588.57 1,611.43

Total Expense 293,664.00 324,546.14 -30,882.14Net Ordinary Income 549,836.00 599,984.74 -50,148.74

1 Fees from participants of the Black Belt Certification Program (Dan)2 GALs (Global Athlete Licenses) and now handled under the Events Program (See the Events Budget vs Actual report)3 An increase in the number of Referee seminars is expected in 20154 Used a conservative estimate while the expectation is for income to exceed the budgeted amount.5 The 2015 budget amount of $75,000 is for the USOC website content license agreement6 2015 expected increase in design and graphics costs of Communications and Membership programs7 GALs (Global Athlete Licenses) are now handled under the Events Program (See the Events Budget vs Actual report)8 Represents known increase in 2015 Athlete Sport Accident insurance coverage9 Some Membership printing costs are being outsourced (See note 6 above)

10 Misclassification. Should be an Administration cost11 A one year contract with SIM Partners to provide USAT Club webpages expires in March 2015


BUDGET 2015 15


2015 USAT Budget Accrual Basis

January through December 2015

Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15Ordinary Income/Expense

Income4001 · Certification Fees 17,500.00 12,250.00 21,000.00 19,250.00 12,250.00 14,000.004002 · Contributions 5,666.63 5,666.67 5,666.67 5,666.67 5,666.67 5,666.674003 · Event Revenue 278,625.00 17,375.00 0.00 0.00 0.00 20,000.004004 · Fees - Seminars & Workshops 10,697.00 8,974.00 17,663.00 11,618.00 24,538.00 54,762.004007 · Membership Dues 60,283.00 51,953.00 55,571.00 45,737.00 41,418.00 41,427.004008 · Royalties & Commissions 8,000.00 0.00 0.00 0.00 0.00 0.004009 · Sales 1,041.63 41.67 41.67 41.67 41.67 41.674010 · Sponsorship 82,500.00 2,000.00 19,166.66 0.00 19,166.66 0.004011 · State Dues & Fees 8,080.00 6,480.00 9,840.00 36,700.00 27,040.00 7,700.004012 · USOC Funding 46,000.00 88,050.00 0.00 0.00 156,050.00 37,500.004013 · Rebate Revenue 19,000.00 0.00 0.00 0.00 0.00 0.00

Total Income 537,393.26 192,790.34 128,949.00 119,013.34 286,171.00 181,097.34Gross Profit 537,393.26 192,790.34 128,949.00 119,013.34 286,171.00 181,097.34

Expense5000 · Airline Travel 32,458.37 14,958.33 18,958.33 11,458.33 29,958.33 7,458.335002 · Contract Services 158,337.39 32,137.51 22,637.51 22,387.51 18,200.01 16,800.01500110 · Depreciation & Amortization 0.00 0.00 0.00 0.00 0.00 0.00Z5003 · Finance & Bank Charges 10,253.50 4,842.50 5,526.00 3,851.50 2,666.50 2,951.005004 · Fees 31,156.85 18,316.65 23,566.65 20,586.65 16,666.65 17,646.655005 · Freight & Shipping 11,100.00 1,300.00 100.00 600.00 100.00 100.005006 · Ground Travel 12,720.87 170.83 120.83 220.83 120.83 120.835008 · Equipment 6,666.63 1,316.67 1,066.67 1,316.67 966.67 966.67N5009 · Insurance Premiums 14,434.24 14,434.16 14,434.16 14,834.16 14,834.16 14,434.165011 · Rooms & Lodging 86,446.63 6,116.67 8,416.67 3,416.67 13,416.67 2,416.675011.1 · Rooms & Lodging - OTC 200.00 200.00 200.00 200.00 200.00 7,700.005015 · Food & Beverage 26,087.50 237.50 4,737.50 2,237.50 7,237.50 1,637.505016 · Medals, Awards & Gifts 11,525.00 325.00 25.00 275.00 25.00 25.00N5017 · Overhead Expenses 16,094.85 5,594.65 5,094.65 5,344.65 5,094.65 5,094.65N5018 · Payroll 40,255.49 40,255.45 40,255.45 40,255.45 40,255.45 40,255.45N5019 · Payroll Tax Expense 3,692.31 3,692.31 3,692.31 3,692.31 3,692.31 3,692.315020 · Meal Allowance 17,429.24 3,229.16 229.16 1,429.16 829.16 229.165023 · Rental 130,258.37 908.33 508.33 508.33 508.33 508.335025 · Subscriptions and Dues 4,200.38 3,245.92 3,245.87 470.87 470.87 470.875027 · Supplies - General 2,362.39 1,012.51 862.51 962.51 862.51 862.515028 · Supplies - Medical 0.00 0.00 200.00 0.00 0.00 0.005030 · Visa & Travel Services 0.00 0.00 0.00 0.00 10,000.00 0.00

Total Expense 615,680.01 152,294.15 153,877.60 134,048.10 166,105.60 123,370.10Net Ordinary Income -78,286.75 40,496.19 -24,928.60 -15,034.76 120,065.40 57,727.24

Page 1 of 2

2015 ACCRUAL BUDGET (JANUARY TO JUNE)TAG-65b To BoD FEB 2015 pg15

BUDGET 2015 16


2015 USAT Budget Accrual Basis



4001 · Certification Fees4002 · Contributions4003 · Event Revenue4004 · Fees - Seminars & Workshops4007 · Membership Dues4008 · Royalties & Commissions4009 · Sales4010 · Sponsorship4011 · State Dues & Fees4012 · USOC Funding4013 · Rebate Revenue

Total IncomeGross Profit

Expense5000 · Airline Travel5002 · Contract Services500110 · Depreciation & AmortizationZ5003 · Finance & Bank Charges5004 · Fees5005 · Freight & Shipping5006 · Ground Travel5008 · EquipmentN5009 · Insurance Premiums5011 · Rooms & Lodging5011.1 · Rooms & Lodging - OTC5015 · Food & Beverage5016 · Medals, Awards & GiftsN5017 · Overhead ExpensesN5018 · PayrollN5019 · Payroll Tax Expense5020 · Meal Allowance5023 · Rental5025 · Subscriptions and Dues5027 · Supplies - General5028 · Supplies - Medical5030 · Visa & Travel Services

Total ExpenseNet Ordinary Income

TOTALJul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan - Dec 15

10,500.00 12,250.00 10,500.00 14,000.00 15,750.00 15,750.00 175,000.005,666.67 5,666.67 5,666.67 5,666.67 5,666.67 7,666.67 70,000.00

675,375.00 37,000.00 375.00 23,000.00 10,875.00 10,875.00 1,073,500.0020,239.00 5,422.00 2,520.00 1,197.00 450.00 1,920.00 160,000.0039,143.00 40,533.00 38,385.00 40,110.00 41,720.00 41,720.00 538,000.0040,000.00 0.00 0.00 0.00 0.00 0.00 48,000.0028,041.67 41.67 41.67 41.67 41.67 41.67 29,500.00

189,500.00 57,166.67 22,166.67 22,166.67 22,166.67 53,000.00 489,000.004,400.00 0.00 14,700.00 0.00 2,540.00 8,420.00 125,900.007,500.00 97,050.00 0.00 0.00 17,050.00 0.00 449,200.00

287,000.00 0.00 0.00 0.00 0.00 0.00 306,000.001,307,365.34 255,130.01 94,355.01 106,182.01 116,260.01 139,393.34 3,464,100.001,307,365.34 255,130.01 94,355.01 106,182.01 116,260.01 139,393.34 3,464,100.00

57,958.33 5,458.33 17,458.33 18,458.33 7,558.33 19,058.33 241,200.00224,200.01 18,400.01 16,400.01 16,800.01 23,550.01 16,400.01 586,250.00

0.00 0.00 0.00 0.00 0.00 16,416.00 16,416.0013,191.25 1,322.75 1,491.00 1,686.50 1,726.25 1,586.25 51,095.0015,536.65 23,566.65 15,536.65 20,996.65 30,776.65 28,376.65 262,730.006,600.00 100.00 100.00 100.00 100.00 100.00 20,400.001,620.83 120.83 120.83 120.83 20.83 220.83 15,700.00

23,166.67 38,966.67 4,166.67 4,166.67 4,216.67 4,266.67 91,250.0014,834.16 14,434.16 14,834.16 14,834.16 14,434.16 15,084.16 175,860.00

168,666.67 416.67 11,416.67 10,916.67 416.67 13,416.67 325,480.00200.00 15,200.00 200.00 7,700.00 200.00 200.00 32,400.00

59,487.50 787.50 7,437.50 7,337.50 637.50 6,737.50 124,600.0014,025.00 25.00 25.00 25.00 25.00 25.00 26,350.0022,594.65 5,094.65 5,094.65 5,094.65 5,094.65 5,094.65 90,386.0057,947.73 40,255.45 40,255.45 40,255.45 40,255.45 57,947.73 518,450.005,038.45 3,692.31 3,692.31 3,692.31 3,692.31 5,038.45 47,000.00

35,529.16 229.16 629.16 629.16 229.16 1,029.16 61,650.00367,354.33 508.33 508.33 508.33 508.33 508.33 503,096.00

470.87 470.87 470.87 470.87 470.87 470.87 14,930.003,362.51 862.51 862.51 862.51 862.51 862.51 14,600.00

250.00 150.00 250.00 250.00 0.00 250.00 1,350.000.00 0.00 0.00 0.00 0.00 0.00 10,000.00

1,092,034.77 170,061.85 140,950.10 154,905.60 134,775.35 193,089.77 3,231,193.00215,330.57 85,068.16 -46,595.09 -48,723.59 -18,515.34 -53,696.43 232,907.00

Page 2 of 2

2015 ACCRUAL BUDGET (JULY TO DECEMBER)TAG-65b To BoD FEB 2015 pg16

BUDGET 2015 17

2015 CASH BUDGET (JANUARY TO JUNE)


2015 USAT Budget Cash Basis


Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15Ordinary Income/ExpenseIncome

4001 · Certification Fees 17,500.00 12,250.00 21,000.00 19,250.00 12,250.00 14,000.004002 · Contributions 5,666.63 5,666.67 5,666.67 5,666.67 5,666.67 5,666.674003 · Event Revenue 89,655.00 17,375.00 0.00 0.00 250,000.00 360,000.004004 · Fees - Seminars & Workshops 10,697.00 8,974.00 17,663.00 11,618.00 24,538.00 54,762.004007 · Membership Dues 85,918.00 131,003.00 140,651.00 57,017.00 18,678.00 21,432.004008 · Royalties & Commissions 8,000.00 0.00 0.00 0.00 0.00 0.004009 · Sales 1,041.63 41.67 41.67 41.67 10,041.67 18,041.674010 · Sponsorship 42,500.00 42,000.00 19,166.66 0.00 19,166.66 0.004011 · State Dues & Fees 8,080.00 6,480.00 9,840.00 36,700.00 27,040.00 7,700.004012 · USOC Funding 47,000.00 88,050.00 0.00 0.00 156,050.00 37,500.004013 · Rebate Revenue 0.00 19,000.00 0.00 0.00 0.00 0.00

Total Income 316,058.26 330,840.34 214,029.00 130,293.34 523,431.00 519,102.34Gross Profit 316,058.26 330,840.34 214,029.00 130,293.34 523,431.00 519,102.34Expense

5000 · Airline Travel 22,458.37 28,958.33 10,958.33 33,458.33 1,958.33 55,958.335002 · Contract Services 112,604.05 78,037.51 22,637.51 22,387.51 30,450.01 26,800.01500110 · Depreciation & Amortization 0.00 0.00 0.00 0.00 0.00 0.00Z5003 · Finance & Bank Charges 5,440.50 4,842.50 5,526.00 3,851.50 2,666.50 2,951.005004 · Fees 34,656.85 18,316.65 23,566.65 20,586.65 16,666.65 17,646.655005 · Freight & Shipping 100.00 12,300.00 100.00 600.00 100.00 6,600.005006 · Ground Travel 6,720.87 6,170.83 120.83 220.83 120.83 120.835008 · Equipment 5,916.63 2,066.67 1,066.67 1,316.67 4,166.67 966.67N5009 · Insurance Premiums 47,944.62 788.33 41,319.58 1,188.33 39,219.58 788.335011 · Rooms & Lodging 8,446.63 84,116.67 8,416.67 3,416.67 13,416.67 2,416.675011.1 · Rooms & Lodging - OTC 200.00 200.00 200.00 200.00 200.00 7,700.005015 · Food & Beverage 15,587.50 10,737.50 4,737.50 2,237.50 7,937.50 2,637.505016 · Medals, Awards & Gifts 11,525.00 325.00 25.00 275.00 25.00 2,025.00N5017 · Overhead Expenses 20,273.74 14,594.65 5,094.65 5,344.65 6,094.65 7,594.65N5018 · Payroll 40,255.49 40,255.45 40,255.45 40,255.45 40,255.45 40,255.45N5019 · Payroll Tax Expense 3,692.31 3,692.31 3,692.31 3,692.31 3,692.31 3,692.315020 · Meal Allowance 17,429.24 3,229.16 229.16 1,429.16 829.16 229.165023 · Rental 36,383.37 11,158.33 508.33 508.33 508.33 120,508.335025 · Subscriptions and Dues 1,425.38 470.92 470.87 470.87 470.87 470.875027 · Supplies - General 2,362.39 1,012.51 862.51 962.51 862.51 862.515028 · Supplies - Medical 0.00 0.00 200.00 0.00 0.00 0.005030 · Visa & Travel Services 0.00 0.00 0.00 0.00 10,000.00 0.00

Total Expense 393,422.94 321,273.32 169,988.02 142,402.27 179,641.02 300,224.27Net Ordinary Income -77,364.68 9,567.02 44,040.98 -12,108.93 343,789.98 218,878.07

Page 1 of 2


BUDGET 2015 18


2015 USAT Budget Cash Basis



4001 · Certification Fees4002 · Contributions4003 · Event Revenue4004 · Fees - Seminars & Workshops4007 · Membership Dues4008 · Royalties & Commissions4009 · Sales4010 · Sponsorship4011 · State Dues & Fees4012 · USOC Funding4013 · Rebate Revenue

Total IncomeGross ProfitExpense

5000 · Airline Travel5002 · Contract Services500110 · Depreciation & AmortizationZ5003 · Finance & Bank Charges5004 · Fees5005 · Freight & Shipping5006 · Ground Travel5008 · EquipmentN5009 · Insurance Premiums5011 · Rooms & Lodging5011.1 · Rooms & Lodging - OTC5015 · Food & Beverage5016 · Medals, Awards & GiftsN5017 · Overhead ExpensesN5018 · PayrollN5019 · Payroll Tax Expense5020 · Meal Allowance5023 · Rental5025 · Subscriptions and Dues5027 · Supplies - General5028 · Supplies - Medical5030 · Visa & Travel Services


TOTALJul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan - Dec 15

10,500.00 12,250.00 10,500.00 14,000.00 15,750.00 15,750.00 175,000.005,666.67 5,666.67 5,666.67 5,666.67 5,666.67 7,666.67 70,000.00

85,375.00 37,000.00 375.00 23,000.00 10,875.00 19,685.00 893,340.0020,239.00 5,422.00 2,520.00 1,197.00 450.00 1,920.00 160,000.00

5,828.00 10,413.00 8,850.00 24,615.00 16,775.00 16,820.00 538,000.000.00 40,000.00 0.00 0.00 0.00 0.00 48,000.00

41.67 41.67 41.67 41.67 41.67 41.67 29,500.00137,000.00 109,666.67 22,166.67 22,166.67 22,166.67 53,000.00 489,000.00

4,400.00 0.00 14,700.00 0.00 2,540.00 8,420.00 125,900.007,500.00 97,050.00 0.00 0.00 17,050.00 0.00 450,200.00

0.00 100,000.00 187,000.00 0.00 0.00 0.00 306,000.00276,550.34 417,510.01 251,820.01 90,687.01 91,315.01 123,303.34 3,284,940.00276,550.34 417,510.01 251,820.01 90,687.01 91,315.01 123,303.34 3,284,940.00

9,458.33 20,958.33 16,458.33 3,958.33 24,058.33 2,558.33 231,200.00198,618.34 18,400.01 16,400.01 16,800.01 23,550.01 16,400.01 583,084.99

0.00 0.00 0.00 0.00 0.00 0.00 0.0013,191.25 1,322.75 1,491.00 1,686.50 1,726.25 1,586.25 46,282.0015,536.65 23,566.65 15,536.65 20,996.65 30,776.65 28,376.65 266,230.00

100.00 100.00 100.00 100.00 100.00 100.00 20,400.001,620.83 120.83 120.83 120.83 20.83 220.83 15,700.00

19,966.67 38,966.67 4,166.67 4,166.67 4,216.67 4,266.67 91,250.0039,219.58 788.33 1,188.33 1,188.33 788.33 1,438.33 175,860.00

168,666.67 416.67 11,416.67 10,916.67 416.67 13,416.67 325,480.00200.00 15,200.00 200.00 7,700.00 200.00 200.00 32,400.00

57,787.50 787.50 7,437.50 7,337.50 637.50 6,737.50 124,600.0012,025.00 25.00 25.00 25.00 25.00 25.00 26,350.0019,094.65 5,094.65 5,094.65 5,094.65 5,094.65 5,094.65 103,564.8957,947.73 40,255.45 40,255.45 40,255.45 40,255.45 57,947.73 518,450.00

5,038.45 3,692.31 3,692.31 3,692.31 3,692.31 5,038.45 47,000.0035,529.16 229.16 629.16 629.16 229.16 1,029.16 61,650.00

169,031.33 508.33 508.33 508.33 16,483.33 48,433.33 405,048.00470.87 470.87 470.87 470.87 470.87 470.87 6,605.00

3,362.51 862.51 862.51 862.51 862.51 862.51 14,600.00250.00 150.00 250.00 250.00 0.00 250.00 1,350.00

0.00 0.00 0.00 0.00 0.00 0.00 10,000.00827,115.52 171,916.02 126,304.27 126,759.77 153,604.52 194,452.94 3,107,104.88

-550,565.18 245,593.99 125,515.74 -36,072.76 -62,289.51 -71,149.60 177,835.12

Page 2 of 2

2015 CASH BUDGET (JULY TO DECEMBER)TAG-65b To BoD FEB 2015 pg18

BUDGET 2015 19

2015 ACCRUAL VS. CASH BUDGET VARIANCE WITH NOTES (JAN-FEB)

2015 USAT Budget

Accrual vs Cash Variance

Report with Notes

Accrual Cash Cash Accrual Cash CashJan 15 Jan 15 Difference Notes Feb 15 Feb 15 Difference Notes

Ordinary Income/ExpenseIncome4001 · Certification Fees 17,500.00 17,500.00 0.00 12,250.00 12,250.00 0.004002 · Contributions 5,666.63 5,666.63 0.00 5,666.67 5,666.67 0.004003 · Event Revenue 278,625.00 89,655.00 -188,970.00 3 17,375.00 17,375.00 0.004004 · Fees - Seminars & Workshops 10,697.00 10,697.00 0.00 8,974.00 8,974.00 0.004007 · Membership Dues 60,283.00 85,918.00 25,635.00 5 51,953.00 131,003.00 79,050.00 134008 · Royalties & Commissions 8,000.00 8,000.00 0.00 0.00 0.00 0.004009 · Sales 1,041.63 1,041.63 0.00 41.67 41.67 0.004010 · Sponsorship 82,500.00 42,500.00 -40,000.00 6 2,000.00 42,000.00 40,000.00 14011 · State Dues & Fees 8,080.00 8,080.00 0.00 6,480.00 6,480.00 0.004012 · USOC Funding 46,000.00 47,000.00 1,000.00 1 88,050.00 88,050.00 0.004013 · Rebate Revenue 19,000.00 0.00 -19,000.00 7 0.00 19,000.00 19,000.00 2

Total Income 537,393.26 316,058.26 -221,335.00 192,790.34 330,840.34 138,050.00Gross Profit 537,393.26 316,058.26 -221,335.00 192,790.34 330,840.34 138,050.00Expense5000 · Airline Travel 32,458.37 22,458.37 -10,000.00 23 14,958.33 28,958.33 14,000.00 165002 · Contract Services 158,337.39 112,604.05 -45,733.34 comment 32,137.51 78,037.51 45,900.00 3500110 · Depreciation & Amortization 0.00 0.00 0.00 0.00 0.00 0.00Z5003 · Finance & Bank Charges 10,253.50 5,440.50 -4,813.00 21 4,842.50 4,842.50 0.005004 · Fees 31,156.85 34,656.85 3,500.00 26 18,316.65 18,316.65 0.005005 · Freight & Shipping 11,100.00 100.00 -11,000.00 9 1,300.00 12,300.00 11,000.00 45006 · Ground Travel 12,720.87 6,720.87 -6,000.00 10 170.83 6,170.83 6,000.00 55008 · Equipment 6,666.63 5,916.63 -750.00 11 1,316.67 2,066.67 750.00 6N5009 · Insurance Premiums 14,434.24 47,944.62 33,510.38 16 14,434.16 788.33 -13,645.83 145011 · Rooms & Lodging 86,446.63 8,446.63 -78,000.00 12 6,116.67 84,116.67 78,000.00 75011.1 · Rooms & Lodging - OTC 200.00 200.00 0.00 200.00 200.00 0.005015 · Food & Beverage 26,087.50 15,587.50 -10,500.00 13 237.50 10,737.50 10,500.00 85016 · Medals, Awards & Gifts 11,525.00 11,525.00 0.00 325.00 325.00 0.00N5017 · Overhead Expenses 16,094.85 20,273.74 4,178.89 14, 24 5,594.65 14,594.65 9,000.00 9N5018 · Payroll 40,255.49 40,255.49 0.00 40,255.45 40,255.45 0.00N5019 · Payroll Tax Expense 3,692.31 3,692.31 0.00 3,692.31 3,692.31 0.005020 · Meal Allowance 17,429.24 17,429.24 0.00 3,229.16 3,229.16 0.005023 · Rental 130,258.37 36,383.37 -93,875.00 comment 908.33 11,158.33 10,250.00 105025 · Subscriptions and Dues 4,200.38 1,425.38 -2,775.00 2 3,245.92 470.92 -2,775.00 115027 · Supplies - General 2,362.39 2,362.39 0.00 1,012.51 1,012.51 0.005028 · Supplies - Medical 0.00 0.00 0.00 0.00 0.00 0.005030 · Visa & Travel Services 0.00 0.00 0.00 0.00 0.00 0.00

Total Expense 615,680.01 393,422.94 -222,257.07 152,294.15 321,273.32 168,979.17Net Ordinary Income -78,286.75 -77,364.68 922.07 40,496.19 9,567.02 -30,929.17

Net Income -78,286.75 -77,364.68 922.07 40,496.19 9,567.02 -30,929.17

Cash Balance Beginning Month 286,105.39 238,328.21Accrual Basis Net Income -78,286.75 17 40,496.19 15State Association dues Payable 29,587.50 4, 5 190,385.00 12

Accrual to Cash adjustment 922.07 -30,929.17

Cash End of Month 238,328.21 438,280.23


BUDGET 2015 20

2015 ACCRUAL VS. CASH BUDGET VARIANCE WITH NOTES (MAR-APR)

2015 USAT Budget


Report with Notes

Ordinary Income/ExpenseIncome4001 · Certification Fees4002 · Contributions4003 · Event Revenue4004 · Fees - Seminars & Workshops4007 · Membership Dues4008 · Royalties & Commissions4009 · Sales4010 · Sponsorship4011 · State Dues & Fees4012 · USOC Funding4013 · Rebate Revenue

Total IncomeGross ProfitExpense5000 · Airline Travel5002 · Contract Services500110 · Depreciation & AmortizationZ5003 · Finance & Bank Charges5004 · Fees5005 · Freight & Shipping5006 · Ground Travel5008 · EquipmentN5009 · Insurance Premiums5011 · Rooms & Lodging5011.1 · Rooms & Lodging - OTC5015 · Food & Beverage5016 · Medals, Awards & GiftsN5017 · Overhead ExpensesN5018 · PayrollN5019 · Payroll Tax Expense5020 · Meal Allowance5023 · Rental5025 · Subscriptions and Dues5027 · Supplies - General5028 · Supplies - Medical5030 · Visa & Travel Services


Net Income

Cash Balance Beginning MonthAccrual Basis Net IncomeState Association dues PayableAccrual to Cash adjustmentCash End of Month

Accrual Cash Cash Accrual Cash CashMar 15 Mar 15 Difference Notes Apr 15 Apr 15 Difference Notes

21,000.00 21,000.00 0.00 19,250.00 19,250.00 0.005,666.67 5,666.67 0.00 5,666.67 5,666.67 0.00

0.00 0.00 0.00 0.00 0.00 0.0017,663.00 17,663.00 0.00 11,618.00 11,618.00 0.0055,571.00 140,651.00 85,080.00 4 45,737.00 57,017.00 11,280.00 3

0.00 0.00 0.00 0.00 0.00 0.0041.67 41.67 0.00 41.67 41.67 0.00

19,166.66 19,166.66 0.00 0.00 0.00 0.009,840.00 9,840.00 0.00 36,700.00 36,700.00 0.00

0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00

128,949.00 214,029.00 85,080.00 119,013.34 130,293.34 11,280.00128,949.00 214,029.00 85,080.00 119,013.34 130,293.34 11,280.00

18,958.33 10,958.33 -8,000.00 1, 7 11,458.33 33,458.33 22,000.00 1, 622,637.51 22,637.51 0.00 22,387.51 22,387.51 0.00

0.00 0.00 0.00 0.00 0.00 0.005,526.00 5,526.00 0.00 3,851.50 3,851.50 0.00

23,566.65 23,566.65 0.00 20,586.65 20,586.65 0.00100.00 100.00 0.00 600.00 600.00 0.00120.83 120.83 0.00 220.83 220.83 0.00

1,066.67 1,066.67 0.00 1,316.67 1,316.67 0.0014,434.16 41,319.58 26,885.42 5 14,834.16 1,188.33 -13,645.83 48,416.67 8,416.67 0.00 3,416.67 3,416.67 0.00

200.00 200.00 0.00 200.00 200.00 0.004,737.50 4,737.50 0.00 2,237.50 2,237.50 0.00

25.00 25.00 0.00 275.00 275.00 0.005,094.65 5,094.65 0.00 5,344.65 5,344.65 0.00

40,255.45 40,255.45 0.00 40,255.45 40,255.45 0.003,692.31 3,692.31 0.00 3,692.31 3,692.31 0.00

229.16 229.16 0.00 1,429.16 1,429.16 0.00508.33 508.33 0.00 508.33 508.33 0.00

3,245.87 470.87 -2,775.00 2 470.87 470.87 0.00862.51 862.51 0.00 962.51 962.51 0.00200.00 200.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00153,877.60 169,988.02 16,110.42 134,048.10 142,402.27 8,354.17-24,928.60 44,040.98 68,969.58 -15,034.76 -12,108.93 2,925.83-24,928.60 44,040.98 68,969.58 -15,034.76 -12,108.93 2,925.83

438,280.23 591,941.21-24,928.60 6 -15,034.76 5

109,620.00 3 -123,500.00 2

68,969.58 2,925.83

591,941.21 456,332.28


BUDGET 2015 21

2015 ACCRUAL VS. CASH BUDGET VARIANCE WITH NOTES (MAY-JUN)

2015 USAT Budget


Report with Notes




Net Income


Accrual Cash Cash Accrual Cash CashMay 15 May 15 Difference Notes Jun 15 Jun 15 Difference Notes

12,250.00 12,250.00 0.00 14,000.00 14,000.00 0.005,666.67 5,666.67 0.00 5,666.67 5,666.67 0.00

0.00 250,000.00 250,000.00 6, 7 20,000.00 360,000.00 340,000.00 5, 624,538.00 24,538.00 0.00 54,762.00 54,762.00 0.0041,418.00 18,678.00 -22,740.00 3 41,427.00 21,432.00 -19,995.00 2

0.00 0.00 0.00 0.00 0.00 0.0041.67 10,041.67 10,000.00 8 41.67 18,041.67 18,000.00 7, 17

19,166.66 19,166.66 0.00 0.00 0.00 0.0027,040.00 27,040.00 0.00 7,700.00 7,700.00 0.00

156,050.00 156,050.00 0.00 37,500.00 37,500.00 0.000.00 0.00 0.00 0.00 0.00 0.00

286,171.00 523,431.00 237,260.00 181,097.34 519,102.34 338,005.00286,171.00 523,431.00 237,260.00 181,097.34 519,102.34 338,005.00

29,958.33 1,958.33 -28,000.00 1 7,458.33 55,958.33 48,500.00 8, 1818,200.01 30,450.01 12,250.00 9 16,800.01 26,800.01 10,000.00 9, 10

0.00 0.00 0.00 0.00 0.00 0.002,666.50 2,666.50 0.00 2,951.00 2,951.00 0.00

16,666.65 16,666.65 0.00 17,646.65 17,646.65 0.00100.00 100.00 0.00 100.00 6,600.00 6,500.00 11120.83 120.83 0.00 120.83 120.83 0.00966.67 4,166.67 3,200.00 10 966.67 966.67 0.00

14,834.16 39,219.58 24,385.42 4 14,434.16 788.33 -13,645.83 313,416.67 13,416.67 0.00 2,416.67 2,416.67 0.00

200.00 200.00 0.00 7,700.00 7,700.00 0.007,237.50 7,937.50 700.00 11 1,637.50 2,637.50 1,000.00 14

25.00 25.00 0.00 25.00 2,025.00 2,000.00 155,094.65 6,094.65 1,000.00 12 5,094.65 7,594.65 2,500.00 16

40,255.45 40,255.45 0.00 40,255.45 40,255.45 0.003,692.31 3,692.31 0.00 3,692.31 3,692.31 0.00

829.16 829.16 0.00 229.16 229.16 0.00508.33 508.33 0.00 508.33 120,508.33 120,000.00 12, 13470.87 470.87 0.00 470.87 470.87 0.00862.51 862.51 0.00 862.51 862.51 0.00

0.00 0.00 0.00 0.00 0.00 0.0010,000.00 10,000.00 0.00 0.00 0.00 0.00

166,105.60 179,641.02 13,535.42 123,370.10 300,224.27 176,854.17120,065.40 343,789.98 223,724.58 57,727.24 218,878.07 161,150.83120,065.40 343,789.98 223,724.58 57,727.24 218,878.07 161,150.83

456,332.28 660,522.26120,065.40 5 57,727.24 4

-139,600.00 2 -29,285.00 1

223,724.58 161,150.83

660,522.26 850,115.33


BUDGET 2015 22

2015 ACCRUAL VS. CASH BUDGET VARIANCE WITH NOTES (JUL-AUG)

2015 USAT Budget


Report with Notes




Net Income


Accrual Cash Cash Accrual Cash CashJul 15 Jul 15 Difference Notes Aug 15 Aug 15 Difference Notes

10,500.00 10,500.00 0.00 12,250.00 12,250.00 0.005,666.67 5,666.67 0.00 5,666.67 5,666.67 0.00

675,375.00 85,375.00 -590,000.00 comment 37,000.00 37,000.00 0.0020,239.00 20,239.00 0.00 5,422.00 5,422.00 0.0039,143.00 5,828.00 -33,315.00 16 40,533.00 10,413.00 -30,120.00 540,000.00 0.00 -40,000.00 24 0.00 40,000.00 40,000.00 128,041.67 41.67 -28,000.00 comment 41.67 41.67 0.00

189,500.00 137,000.00 -52,500.00 25 57,166.67 109,666.67 52,500.00 24,400.00 4,400.00 0.00 0.00 0.00 0.007,500.00 7,500.00 0.00 97,050.00 97,050.00 0.00

287,000.00 0.00 -287,000.00 0.00 100,000.00 100,000.00 31,307,365.34 276,550.34 -1,030,815.00 255,130.01 417,510.01 162,380.001,307,365.34 276,550.34 -1,030,815.00 255,130.01 417,510.01 162,380.00

57,958.33 9,458.33 -48,500.00 4, 14 5,458.33 20,958.33 15,500.00 8224,200.01 198,618.34 -25,581.67 comment 18,400.01 18,400.01 0.00

0.00 0.00 0.00 0.00 0.00 0.0013,191.25 13,191.25 0.00 1,322.75 1,322.75 0.0015,536.65 15,536.65 0.00 23,566.65 23,566.65 0.006,600.00 100.00 -6,500.00 7 100.00 100.00 0.001,620.83 1,620.83 0.00 120.83 120.83 0.00

23,166.67 19,966.67 -3,200.00 28 38,966.67 38,966.67 0.0014,834.16 39,219.58 24,385.42 17 14,434.16 788.33 -13,645.83 6

168,666.67 168,666.67 0.00 416.67 416.67 0.00200.00 200.00 0.00 15,200.00 15,200.00 0.00

59,487.50 57,787.50 -1,700.00 10, 29 787.50 787.50 0.0014,025.00 12,025.00 -2,000.00 11 25.00 25.00 0.0022,594.65 19,094.65 -3,500.00 12, 30 5,094.65 5,094.65 0.0057,947.73 57,947.73 0.00 40,255.45 40,255.45 0.005,038.45 5,038.45 0.00 3,692.31 3,692.31 0.00

35,529.16 35,529.16 0.00 229.16 229.16 0.00367,354.33 169,031.33 -198,323.00 508.33 508.33 0.00

470.87 470.87 0.00 470.87 470.87 0.003,362.51 3,362.51 0.00 862.51 862.51 0.00

250.00 250.00 0.00 150.00 150.00 0.000.00 0.00 0.00 0.00 0.00 0.00

1,092,034.77 827,115.52 -264,919.25 170,061.85 171,916.02 1,854.17215,330.57 -550,565.18 -765,895.75 85,068.16 245,593.99 160,525.83215,330.57 -550,565.18 -765,895.75 85,068.16 245,593.99 160,525.83

850,115.33 283,315.15215,330.57 18 85,068.16 7-16,235.00 15 -13,310.00 4

-765,895.75 160,525.83

283,315.15 515,599.14


BUDGET 2015 23

2015 ACCRUAL VS. CASH BUDGET VARIANCE WITH NOTES (SEP-OCT)

2015 USAT Budget


Report with Notes




Net Income


Accrual Cash Cash Accrual Cash CashSep 15 Sep 15 Difference Notes Oct 15 Oct 15 Difference Notes

10,500.00 10,500.00 0.00 14,000.00 14,000.00 0.005,666.67 5,666.67 0.00 5,666.67 5,666.67 0.00

375.00 375.00 0.00 23,000.00 23,000.00 0.002,520.00 2,520.00 0.00 1,197.00 1,197.00 0.00

38,385.00 8,850.00 -29,535.00 3 40,110.00 24,615.00 -15,495.00 20.00 0.00 0.00 0.00 0.00 0.00

41.67 41.67 0.00 41.67 41.67 0.0022,166.67 22,166.67 0.00 22,166.67 22,166.67 0.0014,700.00 14,700.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.000.00 187,000.00 187,000.00 6 0.00 0.00 0.00

94,355.01 251,820.01 157,465.00 106,182.01 90,687.01 -15,495.0094,355.01 251,820.01 157,465.00 106,182.01 90,687.01 -15,495.00

17,458.33 16,458.33 -1,000.00 1, 7 18,458.33 3,958.33 -14,500.00 116,400.01 16,400.01 0.00 16,800.01 16,800.01 0.00

0.00 0.00 0.00 0.00 0.00 0.001,491.00 1,491.00 0.00 1,686.50 1,686.50 0.00

15,536.65 15,536.65 0.00 20,996.65 20,996.65 0.00100.00 100.00 0.00 100.00 100.00 0.00120.83 120.83 0.00 120.83 120.83 0.00

4,166.67 4,166.67 0.00 4,166.67 4,166.67 0.0014,834.16 1,188.33 -13,645.83 4 14,834.16 1,188.33 -13,645.83 311,416.67 11,416.67 0.00 10,916.67 10,916.67 0.00

200.00 200.00 0.00 7,700.00 7,700.00 0.007,437.50 7,437.50 0.00 7,337.50 7,337.50 0.00

25.00 25.00 0.00 25.00 25.00 0.005,094.65 5,094.65 0.00 5,094.65 5,094.65 0.00

40,255.45 40,255.45 0.00 40,255.45 40,255.45 0.003,692.31 3,692.31 0.00 3,692.31 3,692.31 0.00

629.16 629.16 0.00 629.16 629.16 0.00508.33 508.33 0.00 508.33 508.33 0.00470.87 470.87 0.00 470.87 470.87 0.00862.51 862.51 0.00 862.51 862.51 0.00250.00 250.00 0.00 250.00 250.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00140,950.10 126,304.27 -14,645.83 154,905.60 126,759.77 -28,145.83-46,595.09 125,515.74 172,110.83 -48,723.59 -36,072.76 12,650.83-46,595.09 125,515.74 172,110.83 -48,723.59 -36,072.76 12,650.83

515,599.14 632,424.88-46,595.09 5 -48,723.59 4-8,690.00 2 -3,835.00 5

172,110.83 12,650.83

632,424.88 592,517.12


BUDGET 2015 24

2015 ACCRUAL VS. CASH BUDGET VARIANCE WITH NOTES (NOV-DEC)

2015 USAT Budget


Report with Notes




Net Income


Accrual Cash Cash Accrual Cash CashNov 15 Nov 15 Difference Notes Dec 15 Dec 15 Difference Notes

15,750.00 15,750.00 0.00 15,750.00 15,750.00 0.005,666.67 5,666.67 0.00 7,666.67 7,666.67 0.00

10,875.00 10,875.00 0.00 10,875.00 19,685.00 8,810.00 4450.00 450.00 0.00 1,920.00 1,920.00 0.00

41,720.00 16,775.00 -24,945.00 2 41,720.00 16,820.00 -24,900.00 50.00 0.00 0.00 0.00 0.00 0.00

41.67 41.67 0.00 41.67 41.67 0.0022,166.67 22,166.67 0.00 53,000.00 53,000.00 0.002,540.00 2,540.00 0.00 8,420.00 8,420.00 0.00

17,050.00 17,050.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00

116,260.01 91,315.01 -24,945.00 139,393.34 123,303.34 -16,090.00116,260.01 91,315.01 -24,945.00 139,393.34 123,303.34 -16,090.00

7,558.33 24,058.33 16,500.00 5, 6 19,058.33 2,558.33 -16,500.00 1, 223,550.01 23,550.01 0.00 16,400.01 16,400.01 0.00

0.00 0.00 0.00 16,416.00 0.00 -16,416.00 81,726.25 1,726.25 0.00 1,586.25 1,586.25 0.00

30,776.65 30,776.65 0.00 28,376.65 28,376.65 0.00100.00 100.00 0.00 100.00 100.00 0.0020.83 20.83 0.00 220.83 220.83 0.00

4,216.67 4,216.67 0.00 4,266.67 4,266.67 0.0014,434.16 788.33 -13,645.83 3 15,084.16 1,438.33 -13,645.83 6

416.67 416.67 0.00 13,416.67 13,416.67 0.00200.00 200.00 0.00 200.00 200.00 0.00637.50 637.50 0.00 6,737.50 6,737.50 0.0025.00 25.00 0.00 25.00 25.00 0.00

5,094.65 5,094.65 0.00 5,094.65 5,094.65 0.0040,255.45 40,255.45 0.00 57,947.73 57,947.73 0.003,692.31 3,692.31 0.00 5,038.45 5,038.45 0.00

229.16 229.16 0.00 1,029.16 1,029.16 0.00508.33 16,483.33 15,975.00 1 508.33 48,433.33 47,925.00 3470.87 470.87 0.00 470.87 470.87 0.00862.51 862.51 0.00 862.51 862.51 0.00

0.00 0.00 0.00 250.00 250.00 0.000.00 0.00 0.00 0.00 0.00 0.00

134,775.35 153,604.52 18,829.17 193,089.77 194,452.94 1,363.17-18,515.34 -62,289.51 -43,774.17 -53,696.43 -71,149.60 -17,453.17-18,515.34 -62,289.51 -43,774.17 -53,696.43 -71,149.60 -17,453.17

592,517.12 530,227.61-18,515.34 4 -53,696.43 7

0.00 0.00

-43,774.17 -17,453.17

530,227.61 459,078.01


BUDGET 2015 25

2015 USAT Budget


Report with Notes




Net Income


Accrual Cash CashJan - Dec 15 Jan - Dec 15 Difference

175,000.00 175,000.00 0.0070,000.00 70,000.00 0.00

1,073,500.00 893,340.00 -180,160.00160,000.00 160,000.00 0.00538,000.00 538,000.00 0.0048,000.00 48,000.00 0.0029,500.00 29,500.00 0.00

489,000.00 489,000.00 0.00125,900.00 125,900.00 0.00449,200.00 450,200.00 1,000.00306,000.00 306,000.00 0.00

3,464,100.00 3,284,940.00 -179,160.003,464,100.00 3,284,940.00 -179,160.00

241,200.00 231,200.00 -10,000.00586,250.00 583,084.99 -3,165.0116,416.00 0.00 -16,416.0051,095.00 46,282.00 -4,813.00

262,730.00 266,230.00 3,500.0020,400.00 20,400.00 0.0015,700.00 15,700.00 0.0091,250.00 91,250.00 0.00

175,860.00 175,860.00 0.00325,480.00 325,480.00 0.0032,400.00 32,400.00 0.00

124,600.00 124,600.00 0.0026,350.00 26,350.00 0.0090,386.00 103,564.89 13,178.89

518,450.00 518,450.00 0.0047,000.00 47,000.00 0.0061,650.00 61,650.00 0.00

503,096.00 405,048.00 -98,048.0014,930.00 6,605.00 -8,325.0014,600.00 14,600.00 0.001,350.00 1,350.00 0.00

10,000.00 10,000.00 0.003,231,193.00 3,107,104.88 -124,088.12

232,907.00 177,835.12 -55,071.88232,907.00 177,835.12 -55,071.88

2015 ACCRUAL VS. CASH BUDGET VARIANCE WITH NOTES (2015)TAG-65b To BoD FEB 2015 pg25


2015 USAT Budget Accrual to Cash Variance Report

Adjustment Notes

Date Memo Class Debit Notes Credit Notes BalanceJan 31, 15 286,105.39

01/31/2015 Communications special grant 04000 Member Services:4100 Communications 1,000.00 1 287,105.3901/31/2015 SIM Partners - Club webpage 04000 Member Services:4300 Membership 2,775.00 2 289,880.3901/31/2015 Pre-registrations - US Open 03000 Events:3130 US Open 188,970.00 3 100,910.3901/31/2015 State Registration Fees received 03000 Events:3100 Events Overhead 34,450.00 4 135,360.3901/31/2015 State Registration Fees paid 03000 Events:3100 Events Overhead 4,862.50 4 130,497.8901/31/2015 Deferred Rev - Indiv Membership 04000 Member Services:4300 Membership 25,635.00 5 156,132.8901/31/2015 US Open - Hotel Rebate Revenue 03000 Events:3130 US Open 40,000.00 6 116,132.8901/31/2015 US Open - Venue Rebate Revenue 03000 Events:3130 US Open 19,000.00 7 97,132.8901/31/2015 US Open - Contract Services 03000 Events:3130 US Open 45,900.00 8 143,032.8901/31/2015 US Open - Freight 03000 Events:3130 US Open 11,000.00 9 154,032.8901/31/2015 US Open - Ground Travel 03000 Events:3130 US Open 6,000.00 10 160,032.8901/31/2015 US Open - IT Hardware 03000 Events:3130 US Open 750.00 11 160,782.8901/31/2015 US Open - Hotels 03000 Events:3130 US Open 78,000.00 12 238,782.8901/31/2015 US Open - Meals 03000 Events:3130 US Open 10,500.00 13 249,282.8901/31/2015 US Open - Printing 03000 Events:3130 US Open 9,000.00 14 258,282.8901/31/2015 US Open - Venue Buildout 03000 Events:3130 US Open 10,250.00 15 268,532.8901/31/2015 Prepaid Insurance 33,510.38 16 235,022.5101/31/2015 Accrual Basis Net Income - Jan 01000 Administration:1200 National Office 78,286.75 17 156,735.7601/31/2015 Deposit - Competition Space - US Open 03000 Events:3130 US Open 15,975.00 18 172,710.7601/31/2015 Deposit - Competition Space - US Open 03000 Events:3130 US Open 47,925.00 19 220,635.7601/31/2015 Deposit - Bleachers - US Open 03000 Events:3130 US Open 19,725.00 20 240,360.7601/31/2015 Credit card fees on Registration income - US Open 03000 Events:3130 US Open 4,813.00 21 245,173.7601/31/2015 Prepaid Airfare - US Open 03000 Events:3130 US Open 10,000.00 22 255,173.7601/31/2015 Prepaid Medical Staff- US Open 03000 Events:3130 US Open 10,000.00 23 265,173.7601/31/2015 Payoff Balance owed to USOC 01000 Administration:1200 National Office 13,178.89 24 251,994.8701/31/2015 Gary A. Urie, CPA PC - December 2014 01000 Administration:1200 National Office 3,500.00 25 248,494.8701/31/2015 HangAStar - December 2014 04000 Member Services:4300 Membership 3,500.00 26 244,994.8701/31/2015 Patrice Remarck - December 2014 02000 High Performance:2130 *Nat'l Coaches 6,666.66 27 238,328.21

Jan 31, 15 343,698.00 391,475.18

Page 1 of 5BUDGET 2015 26

2015 ACCRUAL VS. CASH BUDGET VARIANCE NOTES (JANUARY)TAG-65b To BoD FEB 2015 pg26



Adjustment Notes

Date Memo Class Debit Notes Credit Notes Balance

Feb 15 238,328.2102/01/2015 US Open - Hotel Rebate Revenue 03000 Events:3130 US Open 40,000.00 1 278,328.2102/01/2015 US Open - Venue Rebate Revenue 03000 Events:3130 US Open 19,000.00 2 297,328.2102/01/2015 Reverse of GJE US Open -- US Open - Contract Services 03000 Events:3130 US Open 45,900.00 3 251,428.2102/01/2015 US Open - Freight 03000 Events:3130 US Open 11,000.00 4 240,428.2102/01/2015 US Open - Ground Travel 03000 Events:3130 US Open 6,000.00 5 234,428.2102/01/2015 US Open - IT Hardware 03000 Events:3130 US Open 750.00 6 233,678.2102/01/2015 US Open - Hotels 03000 Events:3130 US Open 78,000.00 7 155,678.2102/01/2015 US Open - Meals 03000 Events:3130 US Open 10,500.00 8 145,178.2102/01/2015 US Open - Printing 03000 Events:3130 US Open 9,000.00 9 136,178.2102/01/2015 US Open - Venue Buildout 03000 Events:3130 US Open 10,250.00 10 125,928.2102/28/2015 SIM Partners - Club webpage 04000 Member Services:4300 Membership 2,775.00 11 128,703.2102/28/2015 State Registration Fees received 03000 Events:3100 Events Overhead 190,385.00 12 319,088.2102/28/2015 Deferred Rev - Indiv Membership 04000 Member Services:4300 Membership 79,050.00 13 398,138.2102/28/2015 Prepaid Insurance 13,645.87 14 411,784.0802/28/2015 Net Income - Feb 01000 Administration:1200 National Office 40,496.19 15 452,280.2702/28/2015 Airfare - Pan Am Championships 02000 High Performance:2150 Pan Am Chpshps 14,000.00 16 438,280.27

Feb 15 385,352.06 185,400.00

Mar 15 438,280.2703/01/2015 Reverse of GJE HP Airfare -- Airfare - Pan Am Championships 02000 High Performance:2150 Pan Am Chpshps 14,000.00 1 452,280.2703/31/2015 2,775.00 2 455,055.2703/31/2015 State Registration Fees received 03000 Events:3100 Events Overhead 109,620.00 3 564,675.2703/31/2015 Deferred Rev - Indiv Membership 04000 Member Services:4300 Membership 85,080.00 4 649,755.2703/31/2015 Prepaid Insurance 26,885.38 5 622,869.8903/31/2015 Net Income - Mar 01000 Administration:1200 National Office 24,928.60 6 597,941.2903/31/2015 Airfare - Cadet World Championships 02000 High Performance:2164 Cadet World Championships 6,000.00 7 591,941.29

Mar 15 211,475.00 57,813.98

Apr 15 591,941.2904/01/2015 Reverse of GJE HP Airfare -- Airfare - Cadet World Championships 02000 High Performance:2164 Cadet World Championships 6,000.00 1 597,941.2904/30/2015 State Registration Fees paid 03000 Events:3100 Events Overhead 123,500.00 2 474,441.2904/30/2015 Deferred Rev - Indiv Membership 04000 Member Services:4300 Membership 11,280.00 3 485,721.2904/30/2015 Prepaid Insurance 13,645.87 4 499,367.1604/30/2015 Net Income - Apr 01000 Administration:1200 National Office 15,034.76 5 484,332.4004/30/2015 Airfare - World Championships 02000 High Performance:2135 *World Championships 28,000.00 6 456,332.40

Apr 15 30,925.87 166,534.76

Page 2 of 5

BUDGET 2015 27

2015 ACCRUAL VS. CASH BUDGET VARIANCE NOTES (FEBRUARY-APRIL)TAG-65b To BoD FEB 2015 pg27



Adjustment Notes


May 15 456,332.4005/01/2015 Reverse of GJE HP Airfare -- Airfare - World Championships 02000 High Performance:2135 *World Championships 28,000.00 1 484,332.4005/31/2015 State Registration Fees paid 03000 Events:3100 Events Overhead 139,600.00 2 344,732.4005/31/2015 Deferred Rev - Indiv Membership 04000 Member Services:4300 Membership 22,740.00 3 321,992.4005/31/2015 Prepaid Insurance 24,385.38 4 297,607.0205/31/2015 Net Income - May 01000 Administration:1200 National Office 120,065.40 5 417,672.4205/31/2015 May Registration Fees - Nationals 03000 Events:3190 National Championships 225,000.00 6 642,672.4205/31/2015 May Ticket Sales Nationals 03000 Events:3190 National Championships 25,000.00 7 667,672.4205/31/2015 May - Awards Dinner sales - Nationals 03000 Events:3190 National Championships 10,000.00 8 677,672.4205/31/2015 May - Medical Services - Nationals 03000 Events:3190 National Championships 12,250.00 9 665,422.4205/31/2015 May - Apparel - Nationals 03000 Events:3190 National Championships 3,200.00 10 662,222.4205/31/2015 May - Hospitality- Nationals 03000 Events:3190 National Championships 700.00 11 661,522.4205/31/2015 May - Printing- Nationals 03000 Events:3190 National Championships 1,000.00 12 660,522.42

May 15 408,065.40 203,875.38

Jun 15 660,522.4206/30/2015 State Registration Fees paid 03000 Events:3100 Events Overhead 29,285.00 1 631,237.4206/30/2015 Deferred Rev - Indiv Membership 04000 Member Services:4300 Membership 19,995.00 2 611,242.4206/30/2015 Prepaid Insurance 13,645.87 3 624,888.2906/30/2015 Net Income - Jun 01000 Administration:1200 National Office 57,727.24 4 682,615.5306/30/2015 June Registration fees - Nationals 03000 Events:3190 National Championships 300,000.00 5 982,615.5306/30/2015 May Ticket Sales - Nationals 03000 Events:3190 National Championships 40,000.00 6 1,022,615.5306/30/2015 June - Awards Dinner sales - Nationals 03000 Events:3190 National Championships 16,000.00 7 1,038,615.5306/30/2015 June airfare - Nationals 03000 Events:3190 National Championships 20,000.00 8 1,018,615.5306/30/2015 June Security - Nationals 03000 Events:3190 National Championships 5,000.00 9 1,013,615.5306/30/2015 June Technology - Nationals 03000 Events:3190 National Championships 5,000.00 10 1,008,615.5306/30/2015 June shipping - Nationals 03000 Events:3190 National Championships 6,500.00 11 1,002,115.5306/30/2015 June Bleachers - Nationals 03000 Events:3190 National Championships 60,000.00 12 942,115.5306/30/2015 June Venue Buildout - Nationals 03000 Events:3190 National Championships 60,000.00 13 882,115.5306/30/2015 June Hospitality - Nationals 03000 Events:3190 National Championships 1,000.00 14 881,115.5306/30/2015 June Awards - Nationals 03000 Events:3190 National Championships 2,000.00 15 879,115.5306/30/2015 June Printing - Nationals 03000 Events:3190 National Championships 2,500.00 16 876,615.5306/30/2015 June - Vendor Booth - Nationals 03000 Events:3190 National Championships 2,000.00 17 878,615.5306/30/2015 Airfare - Grand Prix 1 02000 High Performance:2143 Grand Prix 1 28,500.00 18 850,115.53

Jun 15 429,373.11 239,780.00


2015 ACCRUAL VS. CASH BUDGET VARIANCE NOTES (MAY-JUNE)TAG-65b To BoD FEB 2015 pg28



Adjustment Notes


Jul 15 850,115.5307/01/2015 Reverse of GJE Nationals -- June Registration fees - Nationals 03000 Events:3190 National Championships 300,000.00 1 550,115.5307/01/2015 Reverse of GJE Nationals -- May Ticket Sales - Nationals 03000 Events:3190 National Championships 40,000.00 2 510,115.5307/01/2015 Reverse of GJE Nationals -- June - Awards Dinner sales - Nationals 03000 Events:3190 National Championships 16,000.00 3 494,115.5307/01/2015 Reverse of GJE Nationals -- June airfare - Nationals 03000 Events:3190 National Championships 20,000.00 4 514,115.5307/01/2015 Reverse of GJE Nationals -- June Security - Nationals 03000 Events:3190 National Championships 5,000.00 5 519,115.5307/01/2015 Reverse of GJE Nationals -- June Technology - Nationals 03000 Events:3190 National Championships 5,000.00 6 524,115.5307/01/2015 Reverse of GJE Nationals -- June shipping - Nationals 03000 Events:3190 National Championships 6,500.00 7 530,615.5307/01/2015 Reverse of GJE Nationals -- June Bleachers - Nationals 03000 Events:3190 National Championships 60,000.00 8 590,615.5307/01/2015 Reverse of GJE Nationals -- June Venue Buildout - Nationals 03000 Events:3190 National Championships 60,000.00 9 650,615.5307/01/2015 Reverse of GJE Nationals -- June Hospitality - Nationals 03000 Events:3190 National Championships 1,000.00 10 651,615.5307/01/2015 Reverse of GJE Nationals -- June Awards - Nationals 03000 Events:3190 National Championships 2,000.00 11 653,615.5307/01/2015 Reverse of GJE Nationals -- June Printing - Nationals 03000 Events:3190 National Championships 2,500.00 12 656,115.5307/01/2015 Reverse of GJE Nationals -- June - Vendor Booth - Nationals 03000 Events:3190 National Championships 2,000.00 13 654,115.5307/01/2015 Reverse of GJE HP Airfare -- Airfare - Grand Prix 1 02000 High Performance:2143 Grand Prix 1 28,500.00 14 682,615.5307/31/2015 State Registration Fees paid 03000 Events:3100 Events Overhead 16,235.00 15 666,380.5307/31/2015 Deferred Rev - Indiv Membership 04000 Member Services:4300 Membership 33,315.00 16 633,065.5307/31/2015 Prepaid Insurance 24,385.38 17 608,680.1507/31/2015 Net Income - Jul 01000 Administration:1200 National Office 215,330.57 18 824,010.7207/31/2015 Reverse of GJE Nationals --May Registration fees - Nationals 03000 Events:3190 National Championships 225,000.00 19 599,010.7207/31/2015 Reverse of GJE Nationals -- May Ticket Sales Nationals 03000 Events:3190 National Championships 25,000.00 20 574,010.7207/31/2015 Reverse of GJE Nationals -- May - Awards Dinner sales - Nationals 03000 Events:3190 National Championships 10,000.00 21 564,010.7207/31/2015 Reverse of GJE Nationals -- May - Medical Services - Nationals 03000 Events:3190 National Championships 12,250.00 22 576,260.7207/31/2015 July - 2014 deposit on Competition Space - 03000 Events:3190 National Championships 78,323.00 23 654,583.7207/31/2015 August Royalties & Commissions - Nationals 03000 Events:3190 National Championships 40,000.00 24 614,583.7207/31/2015 August Rebates - Hotels - Nationals 03000 Events:3190 National Championships 52,500.00 25 562,083.7207/31/2015 August State of Texas rebate 03000 Events:3190 National Championships 100,000.00 26 462,083.7207/31/2015 September - State of Texas rebate - Nationals 03000 Events:3190 National Championships 187,000.00 27 275,083.7207/31/2015 Reverse of GJE Nationals -- May - Apparel - Nationals 03000 Events:3190 National Championships 3,200.00 28 278,283.7207/31/2015 Reverse of GJE Nationals -- May - Hospitality- Nationals 03000 Events:3190 National Championships 700.00 29 278,983.7207/31/2015 Reverse of GJE Nationals -- May - Printing- Nationals 03000 Events:3190 National Championships 1,000.00 30 279,983.7207/31/2015 Dartfish Credit - Scoring - Nationals 03000 Events:3190 National Championships 3,331.67 31 283,315.39

Jul 15 504,635.24 1,071,435.38

Aug 15 283,315.3908/01/2015 August Royalties & Commissions - Nationas 03000 Events:3190 National Championships 40,000.00 1 323,315.3908/01/2015 August Rebates - Hotels - Nationals 03000 Events:3190 National Championships 52,500.00 2 375,815.3908/01/2015 August State of Texas rebate 03000 Events:3190 National Championships 100,000.00 3 475,815.3908/31/2015 State Registration Fees paid 03000 Events:3100 Events Overhead 13,310.00 4 462,505.3908/31/2015 Deferred Rev - Indiv Membership 04000 Member Services:4300 Membership 30,120.00 5 432,385.3908/31/2015 Prepaid Insurance 13,645.87 6 446,031.2608/31/2015 Net Income - Aug 01000 Administration:1200 National Office 85,068.16 7 531,099.4208/31/2015 Airfare - Grand Prix 2 02000 High Performance:2144 Grand Prix 2 15,500.00 8 515,599.42

Aug 15 291,214.03 58,930.00


2015 ACCRUAL VS. CASH BUDGET VARIANCE NOTES (JULY-AUGUST)TAG-65b To BoD FEB 2015 pg29



Adjustment Notes


Sep 15 515,599.4209/01/2015 Reverse of GJE HP Airfare -- Airfare - Grand Prix 2 02000 High Performance:2144 Grand Prix 2 15,500.00 1 531,099.4209/30/2015 State Registration Fees paid 03000 Events:3100 Events Overhead 8,690.00 2 522,409.4209/30/2015 Deferred Rev - Indiv Membership 04000 Member Services:4300 Membership 29,535.00 3 492,874.4209/30/2015 Prepaid Insurance 13,645.87 4 506,520.2909/30/2015 Net Income - Sep 01000 Administration:1200 National Office 46,595.09 5 459,925.2009/30/2015 September - State of Texas rebate - Nationals 03000 Events:3190 National Championships 187,000.00 6 646,925.2009/30/2015 Airfare - Grand Prix 3 02000 High Performance:2145 Grand Prix 3 14,500.00 7 632,425.20

Sep 15 216,145.87 99,320.09

Oct 15 632,425.2010/01/2015 Reverse of GJE HP Airfare -- Airfare - Grand Prix 3 02000 High Performance:2145 Grand Prix 3 14,500.00 1 646,925.2010/31/2015 Deferred Rev - Indiv Membership 04000 Member Services:4300 Membership 15,495.00 2 631,430.2010/31/2015 Prepaid Insurance 13,645.87 3 645,076.0710/31/2015 Net Income - Oct 01000 Administration:1200 National Office 48,723.59 4 596,352.4810/31/2015 State Registration Fees paid 03000 Events:3100 Events Overhead 3,835.00 5 592,517.48

Oct 15 28,145.87 68,053.59

Nov 15 592,517.4811/30/2015 2016 US Open deposit 03000 Events:3130 US Open 15,975.00 1 576,542.4811/30/2015 Deferred Rev - Indiv Membership 04000 Member Services:4300 Membership 24,945.00 2 551,597.4811/30/2015 Prepaid Insurance 13,645.87 3 565,243.3511/30/2015 Net Income - Nov 01000 Administration:1200 National Office 18,515.34 4 546,728.0111/30/2015 Airfare - Grand Prix final 02000 High Performance:2142 *Grand Prix Finals 9,000.00 5 537,728.0111/30/2015 Airfare - World Cup 02000 High Performance:2140 *World Cup 7,500.00 6 530,228.01

Nov 15 13,645.87 75,935.34

Dec 15 530,228.0112/01/2015 Reverse of GJE HP Airfare -- Airfare - Grand Prix final 02000 High Performance:2142 *Grand Prix Finals 9,000.00 1 539,228.0112/01/2015 Reverse of GJE HP Airfare -- Airfare - World Cup 02000 High Performance:2140 *World Cup 7,500.00 2 546,728.0112/31/2015 2016 US Open - Competition Space Deposit 03000 Events:3130 US Open 47,925.00 3 498,803.0112/31/2015 December Registration Fees - 2016 US Open 03000 Events:3130 US Open 8,810.00 4 507,613.0112/31/2015 Deferred Rev - Indiv Membership 04000 Member Services:4300 Membership 24,900.00 5 482,713.0112/31/2015 Prepaid Insurance 13,645.87 6 496,358.8812/31/2015 Net Income - Dec 01000 Administration:1200 National Office 53,696.43 7 442,662.4512/31/2015 2015 Depreciation estimate 01000 Administration:1200 National Office 16,416.00 8

Dec 15 38,955.87 126,521.43

Page 5 of 5

BUDGET 2015 30

2015 ACCRUAL VS. CASH BUDGET VARIANCE NOTES (SEPTEMBER-DECEMBER)TAG-65b To BoD FEB 2015 pg30

BUDGET 2015 31


2015 USAT BUDGET Statement of Financial Position

As of December 31, 2015

Nov 30, 14 Dec 31, 14 Jan 31, 15 Feb 28, 15 Mar 31, 15 Apr 30, 15 May 31, 15ASSETSCurrent Assets

Checking/Savings100025 · Cash - Checking 1853 139,970.50 286,105.39 238,328.21 438,280.27 591,941.29 456,332.40 660,522.42

Total Checking/Savings 139,970.50 286,105.39 238,328.21 438,280.27 591,941.29 456,332.40 660,522.42Accounts Receivable

110000 · Accounts Receivable 0.00 1,000.00 59,000.00 0.00 0.00 0.00 0.00Total Accounts Receivable 0.00 1,000.00 59,000.00 0.00 0.00 0.00 0.00Other Current Assets

120003 · Prepaid Club Website Fees 11,100.00 8,325.00 5,550.00 2,775.00 0.00 0.00 0.00130320 · Sponsorship Fees Receivable 50,000.00 0.00 0.00 0.00 0.00 0.00 0.00120001 · Prepaid Insurance Expense 12,488.13 0.00 33,510.38 19,864.51 46,749.89 33,104.02 57,489.40120002 · Prepaid Event Expense 165,280.17 190,092.67 81,654.67 95,654.67 87,654.67 109,654.67 98,804.67

Total Other Current Assets 238,868.30 198,417.67 120,715.05 118,294.18 134,404.56 142,758.69 156,294.07Total Current Assets 378,838.80 485,523.06 418,043.26 556,574.45 726,345.85 599,091.09 816,816.49Fixed Assets

180010 · Furniture & Equipment 197,630.29 197,630.29 197,630.29 197,630.29 197,630.29 197,630.29 197,630.29180020 · Transportation Equipment 7,285.23 7,285.23 7,285.23 7,285.23 7,285.23 7,285.23 7,285.23180030 · Athletic Equipment 196,947.38 196,947.38 196,947.38 196,947.38 196,947.38 196,947.38 196,947.38180090 · Accumulated Depreciation -322,389.03 -338,805.03 -338,805.03 -338,805.03 -338,805.03 -338,805.03 -338,805.03

Total Fixed Assets 79,473.87 63,057.87 63,057.87 63,057.87 63,057.87 63,057.87 63,057.87TOTAL ASSETS 458,312.67 548,580.93 481,101.13 619,632.32 789,403.72 662,148.96 879,874.36LIABILITIES & EQUITYLiabilities

Current LiabilitiesAccounts Payable

200000 · Accounts Payable 36,150.55 26,845.55 171,400.00 0.00 0.00 0.00 0.00Total Accounts Payable 36,150.55 26,845.55 171,400.00 0.00 0.00 0.00 0.00Credit Cards

279000 · Credit Cards Payable280009 · 9888 - Bruce Harris 2,022.12 0.00 0.00 0.00 0.00 0.00 0.00280010 · 6337 - Jeanna Mendoza 29.20 0.00 0.00 0.00 0.00 0.00 0.00280011 · 6345 - Patrick Wentland 2,536.35 0.00 0.00 0.00 0.00 0.00 0.00

Total 279000 · Credit Cards Payable 4,587.67 0.00 0.00 0.00 0.00 0.00 0.00Total Credit Cards 4,587.67 0.00 0.00 0.00 0.00 0.00 0.00Other Current Liabilities

210000 · Payroll Liabilities210050 · Vacation Wages Payable 16,621.05 16,621.05 16,621.05 16,621.05 16,621.05 16,621.05 16,621.05

Total 210000 · Payroll Liabilities 16,621.05 16,621.05 16,621.05 16,621.05 16,621.05 16,621.05 16,621.05220001 · Other Current Liabilities

220010 · 2014 United VIK - Over Bookings 5,087.87 5,087.87 5,087.87 5,087.87 5,087.87 5,087.87 5,087.87220080 · State Registration Fees Payable 4,517.50 4,862.50 34,450.00 224,835.00 334,455.00 210,955.00 71,355.00230710 · Due to Las Vegas Open 23,262.50 0.00 0.00 0.00 0.00 0.00 0.00

Total 220001 · Other Current Liabilities 32,867.87 9,950.37 39,537.87 229,922.87 339,542.87 216,042.87 76,442.87230000 · Deferred Revenue

230010 · Deferred Rev. - Athlete/Family 144,095.00 116,426.05 142,061.05 221,111.05 306,191.05 317,471.05 294,731.05230020 · Deferred Revenue - Non-Athlete 1,646.02 1,726.02 1,726.02 1,726.02 1,726.02 1,726.02 1,726.02230050 · Deferred Revenue - Life Members 36,589.25 36,589.25 36,589.25 36,589.25 36,589.25 36,589.25 36,589.25230065 · Deferred Revenue - U S Open 13,970.00 188,970.00 0.00 0.00 0.00 0.00 0.00230640 · Deferred Revenue - Nationals 0.00 0.00 0.00 0.00 0.00 0.00 260,000.00

Total 230000 · Deferred Revenue 196,300.27 343,711.32 180,376.32 259,426.32 344,506.32 355,786.32 593,046.32Total Other Current Liabilities 245,789.19 370,282.74 236,535.24 505,970.24 700,670.24 588,450.24 686,110.24

Total Current Liabilities 286,527.41 397,128.29 407,935.24 505,970.24 700,670.24 588,450.24 686,110.24Total Liabilities 286,527.41 397,128.29 407,935.24 505,970.24 700,670.24 588,450.24 686,110.24Equity

310000 · Unrestricted Net Assets 11,497.36 11,497.36 151,452.64 151,452.64 151,452.64 151,452.64 151,452.64Net Income 160,287.90 139,955.28 -78,286.75 -37,790.56 -62,719.16 -77,753.92 42,311.48

Total Equity 171,785.26 151,452.64 73,165.89 113,662.08 88,733.48 73,698.72 193,764.12TOTAL LIABILITIES & EQUITY 458,312.67 548,580.93 481,101.13 619,632.32 789,403.72 662,148.96 879,874.36

Page 1 of 2

2015 STATEMENT OF FINANCIAL POSITION (NOV ‘14 - MAY ‘15)TAG-65b To BoD FEB 2015 pg31

BUDGET 2015 32


2015 USAT BUDGET Statement of Financial Position

As of December 31, 2015

ASSETSCurrent Assets

Checking/Savings100025 · Cash - Checking 1853

Total Checking/SavingsAccounts Receivable

110000 · Accounts ReceivableTotal Accounts ReceivableOther Current Assets

120003 · Prepaid Club Website Fees130320 · Sponsorship Fees Receivable120001 · Prepaid Insurance Expense120002 · Prepaid Event Expense

Total Other Current AssetsTotal Current AssetsFixed Assets

180010 · Furniture & Equipment180020 · Transportation Equipment180030 · Athletic Equipment180090 · Accumulated Depreciation

Total Fixed AssetsTOTAL ASSETSLIABILITIES & EQUITYLiabilities

Current LiabilitiesAccounts Payable

200000 · Accounts PayableTotal Accounts PayableCredit Cards

279000 · Credit Cards Payable280009 · 9888 - Bruce Harris280010 · 6337 - Jeanna Mendoza280011 · 6345 - Patrick Wentland

Total 279000 · Credit Cards PayableTotal Credit CardsOther Current Liabilities

210000 · Payroll Liabilities210050 · Vacation Wages Payable

Total 210000 · Payroll Liabilities220001 · Other Current Liabilities

220010 · 2014 United VIK - Over Bookings220080 · State Registration Fees Payable230710 · Due to Las Vegas Open

Total 220001 · Other Current Liabilities230000 · Deferred Revenue

230010 · Deferred Rev. - Athlete/Family230020 · Deferred Revenue - Non-Athlete230050 · Deferred Revenue - Life Members230065 · Deferred Revenue - U S Open230640 · Deferred Revenue - Nationals

Total 230000 · Deferred RevenueTotal Other Current Liabilities

Total Current LiabilitiesTotal LiabilitiesEquity

310000 · Unrestricted Net AssetsNet Income

Total EquityTOTAL LIABILITIES & EQUITY

Jun 30, 15 Jul 31, 15 Aug 31, 15 Sep 30, 15 Oct 31, 15 Nov 30, 15 Dec 31, 15

850,115.53 283,315.39 515,599.42 632,425.20 592,517.48 530,228.01 459,078.45850,115.53 283,315.39 515,599.42 632,425.20 592,517.48 530,228.01 459,078.45

0.00 379,500.00 187,000.00 0.00 0.00 0.00 0.000.00 379,500.00 187,000.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

43,843.53 68,228.91 54,583.04 40,937.17 27,291.30 13,645.43 0.00289,304.67 0.00 15,500.00 14,500.00 0.00 32,475.00 63,900.00333,148.20 68,228.91 70,083.04 55,437.17 27,291.30 46,120.43 63,900.00

1,183,263.73 731,044.30 772,682.46 687,862.37 619,808.78 576,348.44 522,978.45

197,630.29 197,630.29 197,630.29 197,630.29 197,630.29 197,630.29 197,630.297,285.23 7,285.23 7,285.23 7,285.23 7,285.23 7,285.23 7,285.23

196,947.38 196,947.38 196,947.38 196,947.38 196,947.38 196,947.38 196,947.38-338,805.03 -338,805.03 -338,805.03 -338,805.03 -338,805.03 -338,805.03 -355,221.03

63,057.87 63,057.87 63,057.87 63,057.87 63,057.87 63,057.87 46,641.871,246,321.60 794,102.17 835,740.33 750,920.24 682,866.65 639,406.31 569,620.32

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

16,621.05 16,621.05 16,621.05 16,621.05 16,621.05 16,621.05 16,621.0516,621.05 16,621.05 16,621.05 16,621.05 16,621.05 16,621.05 16,621.05

5,087.87 5,087.87 5,087.87 5,087.87 5,087.87 5,087.87 5,087.8742,070.00 25,835.00 12,525.00 3,835.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.0047,157.87 30,922.87 17,612.87 8,922.87 5,087.87 5,087.87 5,087.87

274,736.05 241,421.05 211,301.05 181,766.05 166,271.05 141,326.05 116,426.051,726.02 1,726.02 1,726.02 1,726.02 1,726.02 1,726.02 1,726.02

36,589.25 36,589.25 36,589.25 36,589.25 36,589.25 36,589.25 36,589.250.00 0.00 0.00 0.00 0.00 0.00 8,810.00

618,000.00 0.00 0.00 0.00 0.00 0.00 0.00931,051.32 279,736.32 249,616.32 220,081.32 204,586.32 179,641.32 163,551.32994,830.24 327,280.24 283,850.24 245,625.24 226,295.24 201,350.24 185,260.24994,830.24 327,280.24 283,850.24 245,625.24 226,295.24 201,350.24 185,260.24994,830.24 327,280.24 283,850.24 245,625.24 226,295.24 201,350.24 185,260.24

151,452.64 151,452.64 151,452.64 151,452.64 151,452.64 151,452.64 151,452.64100,038.72 315,369.29 400,437.45 353,842.36 305,118.77 286,603.43 232,907.44251,491.36 466,821.93 551,890.09 505,295.00 456,571.41 438,056.07 384,360.08

1,246,321.60 794,102.17 835,740.33 750,920.24 682,866.65 639,406.31 569,620.32

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2015 STATEMENT OF FINANCIAL POSITION (JUNE - DECEMBER)TAG-65b To BoD FEB 2015 pg32