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USA Equestrian
USA Equestrian Executive Committee Meets; Considers Finances, Mediation

The Executive Committee of USA Equestrian, National Equestrian Federation of the United States, met Tuesday (April 30) by telephone conference in a
regular monthly meeting.

Among the agenda items was a consideration of the final audit of the organization's finances, as of the fiscal year ended November 30, 2001. Lori Rawls, Executive Director, and Ancie Hatfield, Assistant Executive Director-Finance, provided documentation of the Federation's financial condition, showing it to be sound in all respects. "We were fortunate to end the year on an audited basis some $300,000 favorable to the forecast we presented to the membership at our convention in January," said Hatfield. In fact, on an operating basis, before non-recurring items such as the expense defending the Federation from the USET challenge, as well as unrealized gains/losses, we showed a surplus of nearly $900,000. However, after the other items are considered, we came in finally at a negative $700,000, which was still much better than our original forecast. Even with the difficult year in the stock market, and the expenses of the USET challenge, we were able to keep our investment portfolio at year-ago levels, just under $6 million."

In addition, Rawls said that the final audit was completed much earlier than in recent years, and PricewaterhouseCoopers, the corporation's auditors, issued an entirely "clean" audit, which will be available shortly to the directors. In addition, detailed financial information will be published in the May issue of Equestrian magazine.

The Executive Committee also discussed at length the USET's withdrawal from mediation on the governance of the sport, and authorized the officers to publish the correspondence detailing both organizations' positions, inasmuch as certain letters had already been obtained and excerpted by some equestrian publications.

In other business, a series of rule-making issues was considered, along with national and international approvals of events, and the postponement until 2003 of the inaugural American Equestrian Games to be held in Lexington, Kentucky.

Members should direct questions and comments to Lori Rawls at the Lexington office.

USA Equestrian Inc., as the National Equestrian Federation of the U.S., is the regulatory body for the Olympic and World Championship sports of dressage, driving, endurance, eventing, reining, show jumping, and vaulting, as well as 19 other breeds and disciplines of equestrian competition. As
the country's largest multi-breed organization, the Federation has over 80,000 members and recognizes more than 2,800 competitions nationwide each year. It governs all aspects of competition, including educating and licensing all judges, stewards, and technical delegates who officiate at these shows.
The vision of USA Equestrian is to provide leadership for equestrian sport in the United States of America, promoting the pursuit of excellence from the grass roots to the Olympic Games, based on a foundation of fair, safe competition and the welfare of its horses, and embracing this vision, to be the best national equestrian federation in the world.


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