USRowing Association

YTD September 30, 2007 Summary

September 2007 Quarterly Budget Report

Overall, September 2007 actual year-to-date revenue was $424,000 more than year-to-date expenses. As compared to budget, revenues were $14,000 more than expenses.

The September 2007 actual year-to-date revenue was $228,000 more than the year-to-date budget. This is largely a result of more revenue received in Field Services, National Team and Investment Activity.

The September 2007 actual year-to-date expenses were $214 more the year-to-date budget. This is largely a result of more expenses in National Team activities.

Money collected for various national team event transportation and lodging is now being reported as income instead of a reduction in expenses in 2007. Since this was not budgeted this way, it will reflect a large variance in revenue but also as a large variance in expenses.

Brian Klausner, Controller