It’s been a busy November for Standardbred Canada Board of Directors, as we have just finished holding the annual fall meetings again in Toronto. The staff provided extensive background material for a jam-packed agenda, which included the year end budget for 2011 and approving a budget for 2012.
The good news is that Management and staff of Standardbred Canada worked diligently over the past year to bring the 2011 budget in at $152,456 excess of revenue over expenses. This will translate into no fee increases for the 2012 year. We will also still be able to co-sponsor the Stakes program, with every province except Ontario enjoying a portion of the $35,300 allotted for 2012.
I would still like to say that even though we had a balanced budget at the end of October 2011, this does not reflect a growing trend in our core revenues. The trend for our memberships, registrations and eligibilities is still a declining one. The profits we have seen have been thanks to our cost cutting initiatives, our website, and Trot Magazine.
Another item that earned much discussion was a recommendation from the Governance Committee that the Board be downsized to 15 Directors, but maintain the classes and regions as is the current structure. The recommendation turned into a motion by the Directors, which passed with a majority vote. More information on this topic will be shared in 2012, so the members are well informed before voting on this change.
I would like to wish each and every member of Standardbred Canada a very Merry Christmas. I hope the New Year is joyous and prosperous for all.