South Jersey Region-Sports Car Club of America, Inc.

May 2008

The May 2008 meeting of the South Jersey Region of the Sports Car Club of America, Inc. was held at the home of Sue King on Thursday evening, May 1, 2008. The meeting was called to order by R.E., Jim Tornetta at 8:20 PM.

Present were: Meg Meyer, Brian Heun, Jim Tornetta, Sue King, Bob Childress, John Borden, Mike Allenbaugh, J.D. King, and Jim Wakeman. Guests were: Val Heun and Ed Jenks.

Treasurer's Report - John reported that we have $3,100.00 in the operating account.

Membership - Meg reported that we have 212 paid members to date.

Solo - Brian reported that at the last event there were 67 entries. The new timing cable worked perfectly and the generator ran beautifully. Each entrant got seven runs. The next event is May 18th. Val reported that there is now a ladies class.

Budget - Jim Tornetta reported that J.D. has put together a budget and Jim asked that J.D., Brian and John B. get together about approaching our friends to the south for financial assistance-a formal letter of request.

New Business - R.E. Jim read a letter received from Mike Allenbaugh requesting that he be awarded the Dave Rose Scholarship for his driver's school. Having received no other requests, Jim entertained a motion to award the scholarship to Mike. Brian made a motion to award the scholarship to Mike Allenbaugh, second by Meg. Motion carried. J.D. proposed that we put a percentage of the net proceeds from our race events into the Dave Rose Scholarship fund. John suggested that we put $450 into the fund as that seems to be the going entry fee. Mike thanked the Board for the Scholarship. This will be presented to the Board at the end of the year.

NJMP - Discussion centered on the email about the flag stations at a cost of $1,200 each with the track needing at least 25 units - approximate cost $30,000. Ed spoke with Jon Lee, the R.E. of the Utah Region, to see what their working relationship with the Miller Motorsports Track as they are similar in size with ours. Jon stated that they are primarily a solo region with approximately 350 members and the track needed SCCA workers. They traded time for workers for the professional races - full day, full track for working the pro events. They ran club trails and PDX the first year, added a school the second year. They will be running a National combined with a Friday Regional this year. They expect roughly 140 cars for the National and 60 cars for the Regional. Jon suggested that we use PayPal to get monies in early, get track to trade time for workers, get track to delay payments as late as possible. Ed went on to show various tracks and what they are doing as far as entry fees, number of entries, etc. Jim asked what response we should give the email and it was suggested that we thank them for the opportunity but we respectfully decline Discussion followed. Ed reported that he had spoken with Gayle Lorenz, R.E. of the DC Region and she asked that our Region give them some sort of collateral. The spread sheet that was sent to DC was a suggestion and with it was a request that they get back to us with any questions their BOD may have, this was not a final presentation. Ed went over a money picture for our July event and made some suggestions, i.e. sponsorship, region members, co-sanctioning. Discussion centered on entry fees and approximate number of entrants in order to present a proper budget. John Borden announced that he has the resources available and he can lend it to the Region at the rate of % over prime. He asked that we sign a note to that effect, he will not ask for personal guarantees, at the rate of 5%. He is willing to do this in order to relieve the pressure of us looking for the necessary funds and/or sponsors to get this first event off the ground. Jim Tornetta stated that we are at the crossroads right now and feels that we should accept John's offer. Motion by Meg that we have Brian draft a note to accept John's offer of up to $60,000 to be used for operating expenses for our race events, second by Bob. Motion carried.

There being no further business, the meeting was adjourned at 9:20 PM.

Respectfully submitted,

Sue King