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AKC Board Minutes,Chairman's Report

AKC Board Meeting Minutes

American Kennel Club Board Motions, Actions as recorded by Secretary

 

Meeting held August 12th-13th, 2019, published 9/6/2019

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Wording is as presented in the Minutes provided by AKC Secretary Gina M. DiNardo.

 

The Board convened on Monday, August 12, 2019 at 8:38 a.m. All Directors were present. Also present was the Executive Secretary.

     The July 2019 Board minutes, copies of which had been provided to all Directors, were reviewed. Upon a motion by Ms. Biddle, seconded by Mr. Powers, the July 2019 minutes were approved unanimously.

 

EXECUTIVE SESSION Monday the 12th there was an EXECUTIVE SESSION to discuss sensitive business matters. There was nothing reported out of this session.

 

PRESIDENT’S REPORT - Board Action Items - Mr. Sprung reviewed Action Items and reported on Staff initiatives.

 

Legal Status Report - The Board reviewed a status report on pending litigation and other Legal activities for the month of July, 2019.

 

FINANCE - Joseph Baffuto, CFO, presented AKC’s unaudited financial results for the period ended June 30, 2019. Total year to date revenues of $38.4 million were less than 1% under budget, while also being $1.2 million, or 3.3% greater than 2018. Dog Registrations’ volume of greater than 308,000 was 3% below budget, but 2% higher than 2018, along with Total Litters processed of more than 131,500 being 2% below budget and 3% higher than last year. Total operating expenses of $35.9 million were $2.4 million or 6.2% below budget, as well as being 1.4% lower than 2018. YTD Operating income of $2.5 million is significantly exceeding the 2019 budget year to date and is well above 2018’s operating income of $829,000 during the same six-month period in 2018. Additionally, our investment portfolio, with a positive performance in June, now reflects year to date unrealized gains on investments totaling $12.0 million dollars.

 

EXECUTIVE SESSION Tuesday the 13th there was an EXECUTIVE SESSION to discuss sensitive business matters. There was nothing reported out of this session.

 

 

Click here to open the full August 2019 AKC Board Minute Meeting

 

Emeritus Judge: Mr. Henry (Hank) J. Williams, Carol Pernicks, Mrs. Keke Kahn

Deceased Judges: Mr. George E. Horn, Mr. Joesph F. Joly III, Ms. Dianne Reimer, Charles “Bud” Kramer, LCOL Wayne Fessenden, Mr. Kenneth D. Falconi, Mrs. Kathleen P. Kanzler, Mr. T. Rutledge Parker, Ms. Rhoda Winter Russell, Dr. Robert S. Turton, Mrs. Patricia Ulloa

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