USRowing Association

YTD June 30, 2006 Summary

June 2006 Quarterly Budget Report

Overall, June 2006 actual year-to-date revenue was $465,000 more than year-to-date expenses. As compared to budget, revenues were $22,000 more than expenses.
 
The June 2006 actual year-to-date revenue were $118,000 more than the year-to-date budget. This is largely a result of more revenue received in: Sponsorships +$11,000, General Merchandise Sales +$19,000, Coaching Education Clinic Fees and DVD Sales +$20,000, and Contributions & Grants +$103,000. The majority of the $103,000 is from grants to cover the relocation costs from Indiana to New Jersey. Dues overall is down $18,000, Events/Field Service is down $14,000 and Investment income is down $4,000 (market conditions on Endowment Fund).

The June 2006 actual year-to-date expenses were $96k 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. Legal and Insurance costs were also higher in the National Team and General & Administrative expenses.

Brian Klausner, Controller