The Recreation Vehicle Industry Association (RVIA) Board has set an $11.5 million budget for its fiscal year 2003, which began Oct. 1. The total is $1 million greater than the fiscal 2002 spending plan.
However, the RVIA’s fiscal 2003 budget will be balanced, unlike fiscal 2002, which ended with a deficit of $532,000, according to the Reston, Va.-based association.
The RVIA will be able to spend more during the next 12 months without running a deficit because of the sharp increase in shipments from manufacturers to dealers and because of strong sales at the shows the RVIA owns.
The RVIA, which represents RV manufacturers and their suppliers, owns the California RV Show, which opens in Pomona on Friday (Oct. 11) and continues through Oct. 20. The RVIA also owns the industry’s National Trade Show, which, this year, will run from Dec. 3-5 in Louisville.
Meanwhile, association data shows that the RV industry continues to remain healthy.
Wholesale shipments of all RV product types are up 17% when the first eight months of this year are compared with the same portion of 2001, according to association data.
“The RVIA staff and Executive Committee worked diligently to be able to present a balanced budget to the board that includes some new programs and projects but holds the line on membership dues,” said Dave Humphreys, RVIA president. “Considering the current state of the economy and other travel-related industries, we feel very fortunate that we are able to present a balanced budget.”
The fiscal year 2003 budget was approved during the RVIA’s board meeting Sept. 14 in Williamsburg, Va.
Although the RVIA incurred a deficit of $937,000 in its fiscal year 2001 along with the $532,000 deficit in fiscal 2002, it continues to have a cash reserve of around $5 million. The cash reserve is intended to help the association get through industry downturns such as occurred the last two fiscal years.
To keep the deficit from growing too large, the RVIA board voted in March to approve a 3% increase in space rental fees for this year’s Pomona and Louisville shows. Exhibitors paid $3.70 per square foot for this year’s Pomona show and they will pay $3.80 per square foot at Louisville.