New policy approved at the LYRA Executive Meeting, April 13, 2003: LYRA POLICY - SAILING PROGRAM FUNDING SUPPORT From time to time, at the exclusive discretion of the Executive Committee (ExCom), LYRA may provide unsolicited funds to a sailor or association of sailors, who are members of an LYRA member club, engaged in a pursuit which involves and/or promotes racing or sailing in a special manner or special event. Some examples include: an Olympic campaign, entry fee for an international regatta in a foreign country, a junior sailor’s pursuit of a specific high level goal in sailing, a Junior Club implementing a unique instructional program, etc. This funding support is separate from our current established policy of reimbursing entry fees to selected sailors representing LYRA in USSA and CYA regional and national sailing championships. To apply for a funding grant, a third party individual, group or organization shall provide a written recommendation letter to an LYRA Flag Officer, or an LYRA ExCom member may do so directly at an LYRA meeting, describing the program, the need and the individual, team or organization that would benefit from the grant. The third party or the LYRA ExCom member shall not directly benefit from such funding support. The amount of the grant shall be based on LYRA’s overall financial position at the time of the request, with the understanding that an annual budget estimate for this general objective shall be included in the formal budgeting process each year, even if no specific requests have been made prior to the annual budget being established. When specific requests have been made, the recipient’s name and grant amount shall be indicated in the budget line item description for clarification. As much as possible, grants are to be submitted and voted upon by the LYRA flag Officers prior to the end of the calendar year so that a more accurate budget assessment for the following year can be made. At the exclusive discretion of LYRA, the grant may be made in cash or “in kind” and it is understood that a grant is for a one year period. A multi-year grant is possible, but must be submitted each year for approval. Any and all funding grants provided during the fiscal year (November 1st to November 1st) shall be announced at the Annual General Meeting as part of the regular Treasurer’s Report. For the LYRA ExCom, EStGeorge 4/20/03