IJSBA Announces 2009 Economic Relief Plan
January 20,2009
FOR THOSE OF YOU WHO DON’T LIKE TO READ THESE LONG BULLITENS: IJSBA FEES WILL BE LOWER IN 2009.
The IJSBA is pleased to announce an economic relief package for the PWC Racing community. Well, I guess we aren’t really pleased that we have to announce it. We are just pleased we can do something about it.
The IJSBA is a not-for-profit company and all monies received by the IJSBA are spent on the business of the sport. When there is sufficient capital to do so, the IJSBA will return money to the community by applying these funds in a manner to offset participation costs.
Since 2006, we have worked diligently to create a more efficient organization which manages your money in a way that provides the most longevity for the sport. These efforts have resulted in reduced costs at the World Finals in the form of discounted services, free admission, and price freezes on vendor and racer fees. Also, affiliate member fees and other service fees have been frozen for four calendar years. These are topics that will be discussed further in the IJSBA 2008 report and January update that will be released later this month.
Currently, the global economy is showing signs of stagflation (Econ scholars, I look forward to your emails) and these signs are most apparent in the US economy where the bulk of IJSBA business takes place. To help offset the effects of inflation to our members and customers, the IJSBA will be offering price reductions and/or increased services for all components of the IJSBA system.
The IJSBA will accomplish these reductions by moving funds from the IJSBA surplus account into the operations account and will adjust the operations budget downward. IJSBA fees are set to meet the costs of operation and, therefore, this will result in lower fees for 2009.
So, you are probably wanting to know what this surplus account is all about. The surplus account holds those monies needed to frontload costs of the World Finals. A certain amount of World Finals expenses must be paid up front and some expenses incur finance charges if not paid immediately. By having enough surplus to pay these fees, the World Finals costs less to produce and we are able to pass the savings on to the PWC community.
We have worked with several service suppliers for the 2009 event to free up this surplus money for this year. Therefore, this available money is what will be applied to the cost of IJSBA non-World Finals services in order to reduce costs to the general PWC community.
The following will be the fee adjustments for 2009: Affiliate Fees will be reduced by 10%; World Finals Vendor Fees List Prices will be reduced by 10%, all World Finals classes that do not offer a pay-out will have the early registration prices reduced by 10%, all Rule Book advertising prices will be decreased by 30%, all web advertising will be reduced, and all World Finals banner package prices will be reduced by 50%.
The IJSBA reserves the right to condition these discounts on a timely payment requirement and to withhold these discounts to persons who have past due debts to IJSBA.
IJSBA realizes that 10% discounts are not jaw dropping amounts, but, to drop further could put some necessary operations and services at risk. This temporary adjustment provides some relief against inflation and, when applied cumulatively, will keep well more than tens of thousands of dollars in your pockets.
The IJSBA can only guarantee this offering for the 2009 calendar year. However, the IJSBA fees are based upon the costs incurred by IJSBA for its normal business activities. If the prices of goods and services drop by 2010 (which they sometimes do after periods of recession due to drops in demand) then some of these price decreases may be repeated.
Complete details will be announced in March 2009 when the registration process begins. For more information please contact the International Jet Sports Boating Association by emailing
info@ijsba.com or by calling +1-(714)-751-8695
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