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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 - 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
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.
Click here to open the full
August 2019 AKC Board Minute Meeting
Emeritus Judge: Mr. Henry (Hank) J. Williams, Carol Pernicks,
Deceased Judges: Mr. George E. Horn, Mr. Joesph F. Joly III, Ms. Dianne Reimer, Charles “Bud” Kramer, LCOL Wayne Fessenden
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