2004/03/10 Council Agenda Packet

F � 4 Budget 2003 was a good year for the club financially. The budget has been somewhat consistent over the last 4+ years,but is beginning to react to rowing activities becoming more and more expensive. Cost increases in US Rowing membership,regatta fees across the board, and the cost of insuring and maintaining our own towing vehicle have caused our annual budget to grow substantially. However,we have been able to meet those challenges while retaining the ability to fundraise effectively and purchase competitive equipment. Summary 2003 was an excellent year for ERA. Coming off a long range planning session in January,our goal was to achieve a sense of professionalism throughout the club. Not only were the bylaws recreated to address the current needs of the club but also we hope they will serve ERA for years to come. Further, a professional r- bookkeeper has been retained to manage the day-to-day fiscal operations of our organization. These efforts coincide with a tremendous increase of users at the boathouse, from the junior team to Parks classes,and the best racing results to date enjoyed by the oarsmen and oarswomen that compose Everett Rowing. Thank you all at Everett Parks and Recreation for the continued support and enabling us to perform our operations out of the Langus Boathouse facility. We hope that our efforts towards achieving excellence not only in racing but our own organization warrant the level of support you have provided. Sincerely, Matthew Lacey Director Everett Rowing Association 15