Home Meeting Minutes WTBOA Board of Trustees Meeting Minutes – May 2017

WTBOA Board of Trustees Meeting Minutes – May 2017


May 12, 2017

Board Members Present: William P. Brewer, Pam Christopherson, Jim Engstrom, Tim Floyd (by phone), Mary Lou Griffin, Nina Hagen, Dana Halvorson, Greg Luce, Debra Pabst, Keith Swagerty and Jennifer Webber. Absent: Dr. Duane Hopp. Staff present: M. Anne Sweet.

The meeting was called to order at 12:16 p.m. at the WTBOA offices by President Halvorson.

Previous Board Minutes: Minutes from the April 14, 2017, meeting were presented and reviewed. Two changes/corrections were noted. Griffin moved to approve the minutes with the changes noted. Webber seconded the motion and the minutes were approved as noted.

Finance Committee Report: Treasurer Pabst reported that the finance reports are not too different from the previous month. The Cash Basis P&L shows a negative $19,000, which was paid to consignors after the beginning of the current budget year. Also, the WHIP bonus funds have now been transferred to an equity account. We are ahead of budget when taking these factors into account.

One of the compressors for the HVAC system has failed. It would be $18,000 to replace the entire system versus $6,000 to replace the compressor and related parts. The compressor will be replaced. Per section 8.1 of the lease with Emerald Downs and the Muckleshoot Indian Tribe, the WTBOA is responsible for maintaining this system.

A letter requesting track dues for the non-live simulcasting season has been sent to Emerald Downs.

Northwest Race Series (NWRS): Chairman Pabst reported that the RBC Wealth Management account is in the process of being closed and the funds transferred to a new NWRS-restricted savings account with Bank of America. A list of this year’s nominated stallions (mares covered this year, foals of 2018, two-year-olds of 2020) was included in the Board packet and will also be posted online.

Sales Committee Report: Chairman Webber reported that there are currently 134 yearlings entered in the summer session of the sale. Typically, it is expected that we might lose five percent or so of those entered. There are three new consignors this year. There is a Sales Committee meeting scheduled for May 23. It was noted that of that group, there are 30 California-breds and 40 California-sired yearlings, so perhaps this will help draw more California buyers. Also perhaps we will be able to draw some previous Ocala buyers since that sale has now been moved to later in the year.

Publications Report: Sweet reported that the summer issue of the magazine is in progress. It will include a preview of the WTBOA Sale; an Ask the Experts column related to the sale; a people profile on Clemans View Farm, written by Katie Peery; a stallion profile on Understatement, written by Halvorson; a Hall of Fame profile; an article about American Pharoah’s specialized shoeing, reprinted from the American Farriers Journal; and an article on Stem Cell Research, by Heather Smith Thomas, as well as the other usual statistics and departments.

Sweet requested some input regarding the Ask the Experts column. The questions suggested will be addressed to veterinarian and they were roughly, how can you assist me in buying a horse, and what do you find acceptable and/or what are red flags in x-rays, reports or exams. The questions will be refined and sent to Dr. Jim Bryant, Dr. Bob Schneider, Dr. Linda Hagerman, Dr. Jeff Stenslie, Dr. Joey Bergevin and jointly to Dr. Jenyka Bergsma and Dr. Gary Bergsma.

Annual Membership Meeting: The various options for the date of the meeting were reviewed and discussed. Sweet had communicated with Vicki Potter of Emerald Downs’ group sales department, and unfortunately the Emerald Room was already booked for the dates we had hoped for. The Emerald Room is available on Saturday, July 1, since evening racing doesn’t begin until the next Saturday in July; or the 3rd floor Champions level is available on Saturday, August 5. Both of these dates were being tentatively held until today’s Board meeting to allow for discussion. Brewer moved that the meeting be held on July 1. Hagen seconded and the motion was approved.

Keynote speakers were discussed. Emerald Downs President Phil Ziegler and Washington State Department of Agriculture Field Veterinarian Dr. Thomas Gilliom will be invited. [Sweet communicated with both Ziegler and Gilliom and both have accepted.]

Goals and Initials: It was suggested that a more specific welcoming letter be sent out to all new members and/or to have a committee that will actually call those people, and that we reach out to any new members from the last three years. Possible areas of mentorship include: Breeding, Raising Thoroughbreds, Sales Prep, Purchasing Breeding Stock and Ownership/Partnerships. It was requested that those present come up with suggestions for what the welcoming committee might talk to these people about and send those thoughts/suggestions to Luce and Halvorson, who will then summarize them for everyone to have on hand as reference. [As requested, Sweet e-mailed a list of 2015, 2016 and 2017 new members, including their phone numbers and e-mail addresses.]

Pabst gave an update on the status of the Washington Broodmare Club: A flier and the agreement are ready, as well as a Facebook page has been created. They have their first member. To join, club members make a five-year commitment at $500 per year. It is a non-profit club designed for educational purposes. Club members will regularly receive information about the mare and foal and can make farm visits. Members cannot get back more than what they put in (up to $2,500). Any excess funds will go to a charity. The goal is to race the resulting foal, not sell it at auction. The horse will be sold at the end of its three-year-old year. Pabst felt that they need 25 members to make it go. The question was asked, why do this if it is not for profit? Answer: It is designed to be an educational experience.

Next Meeting Date: The next meeting was scheduled for Friday, June 23, 2017.

The meeting was adjourned at 1:35 p.m.

June 23, 2017, Meeting Minutes
Pending approval at next meeting

Next Meeting
Thursday, September 7, 2017