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ApHC outlines fiscal management strategy

aphc-logo.jpgNewly elected Appaloosa Horse Club President Frank Larrabee and ApHC senior staff met recently to develop specific financial goals for the current fiscal year and to initiate a specific response to the realities of a changing economic climate. Rising costs are affecting the horse industry, the Club and its members. The strategy sessions were meant to address both the revenue side of the Club’s activities and all categories of expenditures with the primary goal of preserving members’ equity in the association and to end the year with a balanced budget.

“Our job as directors and staff is to work harder and smarter to maintain the core strengths of the Appaloosa Horse Club, provide honest stewardship of the resources necessary to maintain a high level of member services and sponsored programs, and to enhance the overall appeal of the Appaloosa breed” Larrabee said.

A number of cost-cutting measures and basic savings are included in the plans. Some of the key areas include reductions in staff travel, personnel costs and administrative expenses. Several proposals for cuts related to Board of Director meetings will be considered for both the short and long term. According to President Larrabee, the serious work of maintaining members’ equity should start with the board leading by example to evaluate all costs of doing the Club’s business. A reduction in the number of face-to-face board meetings, limits on travel expenses for directors and other controls are expected to be implemented.

Program expenditures specific to shows, trail rides and awards will be adjusted to account for significant savings as well. In combination with administrative cuts by the board and ApHC management, the club expects to realize a savings of at least $250,000 to help sustain current levels of member equity.

Additional strategies on the revenue side include repackaging sponsorship agreements, being more aggressive in reaching out to potential new supporters, providing a variety of Journal and web site advertising options and promoting the benefits of programs such as the International Registration Incentive.

6 Comments

  1. Carrie Giannandrea Said,

    August 6, 2008 @ 1:26 pm

    Is it possible that lowering the Hardship Reg. Fee might bring in more members who will show and spend more money??

    Seems logical to me, why should we charge a “gelding” owner such a high fee to be able to show???

    Carrie Giannandrea
    Dances with Horses
    Formula One Farms

  2. Kaitlyn Said,

    August 7, 2008 @ 10:29 am

    I think it would be sensible to lower the cost for a Hardship Registration. If we want new people to come in our prices cant be so high that they are scaring people away.

  3. Luluappy Said,

    August 8, 2008 @ 5:25 am

    I think lowering or eliminating the total number of horses needed for a nationally pointed show would help.
    As long as the show has met all the requirements of the National Club. Class’ needed, advance notice, advertising, etc. These clubs are not holding a show to try and sneak points over on anyone.
    If a club can’t afford multiple Judges, it is hard to get the participation required. And on many occasions I know myself, that if there is a chance there is not going to be enough participation I won’t go either.
    It is hard to justify all the expense, just to find out later you have wasted your money and not going to get credit. If you look at the increase of non-pointed shows this should be raising a flag.

  4. Taryn Said,

    August 11, 2008 @ 7:16 am

    The club might be able to increase funds by allowing colored geldings that fit the other criteria to be registered under the regular registry, as they are not breeding stock. There are a lot of people who would register their older geldings and show them, but the terms and requirements, not to mention the cost of Hardship scares them away.

  5. Sue Said,

    August 13, 2008 @ 12:23 pm

    I noticed that the tentative world schedule is up along with the price increases. While I know that the club is facing a “financial difficulty”, do they intend to fund “members equity”, solely from show people. The attendance was down 32% to 35% this year. Members stated that if the show was moved, they would not attend. In the general membership meeting, the directors stated that to stay in OKC, entry fees and stalls would have to go up. We did not stay in OKC and the entry fees and stalls in Jackson, MS went up. While some price increase may be justified, one must be careful how much they raise prices. The club may actually loose money as more people will not not enter as many classes as before. I will definately have to change the number of classes I was going to enter. This may also happen with other people. The club has set numerous examples of poor financial decisions, including the lawsuit against George Hatley, moving to Jackson, CPO, no CPO, and now Permit. This is what has reduced members equity. Our board of directors does not act as a true board of directors should, neither is our CEO allowed to function as he should. What are the long range realistic plans?

  6. Dave Dunfee Said,

    September 1, 2008 @ 8:25 am

    As I continue to read the articles and comments, it becomes more and more apparent that the there are to many issues not being handled in the best interest of the members. It seems that there is always continued issues with promoting the breed, Club and shows. There are always issues with the management and leadership. The constant changing of things,without being well thought out, just leads to more and more changes to fix what came about by bad decissions of the past. The one that gets me is to line up or not. Who is it that dosn’t want to know how the judges have assesed their performance? Not to mention this helps curb the possibility of politics being heavily involved in this subjective prosess. It is a no brainer, line up. As to the hardship reg. I wonder just how many are out there waiting to join the club and reg. a horse and go showing !! Just because you drop the price a little. By the way is the Club aware of the fact that Char o Lot Ranch, did a wounderful job representing us and our breed in Kentucky with the release of DZ Weedo to the Breyer festival recently? Thanks for there job well done. This is the type of thing our management and leadership should be focusing on. If we think the Club has troubles now just wait. I hope I am wrong!

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