USRowing Association

YTD December 31, 2006 Summary

December 2006 Year End Budget Report

Overall, December 2006 actual year-to-date revenue was $110,000 less than year-to-date expenses. As compared to budget, revenues were also $110,000 less than expenses.

Although revenue was above budget, the cost of the relocation from Indiana to New Jersey, and expenses associated with the National Team (rent, dock fees, and legal fees) resulted in expenses to be above budget. 
 
The December 2006 actual year-to-date revenue was $220,000 more than the year-to-date budget. This is largely a result of more revenue received in: Sponsorships +$26,000, General Merchandise Sales +$61,000, Coaching Education Clinic Fees and DVD Sales +$18,000, and Contributions & Grants +$94,000, Dues +$13,000, and Investment Activity +$35,000. Sanctioning Fees were down $37,000.

The December 2006 actual year-to-date expenses were $331,000 more than the year-to-date budget. This is largely a result of more expenses in General & Administrative expenses related to relocation costs from Indiana to New Jersey. Rent, dock fees and legal fees were also higher for the National Team. Additionally, the cost of merchandise sold was up in relation to sales.

Brian Klausner, Controller