American Historic Racing Motorcycle Association

Your Guide to Vintage Racing in the United States

Executive Board Statements 2008

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Updated 01/04/08

Jeff Smith Steps Down as AHRMA Treasurer

From the AHRMA Board of Trustees
Statement by Jeff Smith
I have resigned as an AMA Director and Assistant Treasurer because I feel some responsibility for the alleged fraudulent actions of a fellow Director. I was an unwitting accomplice to his activities by signing expenses which I believed to be true and accurate.  Although I had no knowledge of the acts and trusted and signed this individual’s expense reports, just as prior AMA Treasurers have, more prudent scrutiny of the documents may have changed the situation.  Therefore, to allow a new assistant Treasurer to take over and to remove any sense of impropriety from the AMA Board, I resigned effective February 15.

Further, in order to allay concerns on the part of members of the American Historic Racing Motorcycle Association at this delicate period in its reconstruction, I have resigned from my position as Treasurer.

My commitment to both associations is undiminished and I look forward to more years of volunteer work and riding.

Statement from AHRMA Chairman of the Board of Trustees:
I have accepted the resignation of Jeff Smith from the position of AHRMA Treasurer following his resignation as AMA Assistant Treasurer and AMA board member.

Although the responsibilities of AHRMA treasurer (and trustee expense reimbursement) differ from that of the AMA Assistant Treasurer, I agree that given the circumstances, it is in the best interest of AHRMA that he resign as treasurer in order to avoid ANY perception of fiduciary irregularity.  With this resignation, he will also no longer serve on our executive committee which acts for the board (within limits specified in our bylaws) between full board meetings.

I have been personally responsible under our Chapter 11 bankruptcy filing for reviewing and submitting AHRMA finances each month to the court, and can state that there have been no irregularities. I also note that the AMA board immediately followed Mr. Smith’s resignation with a “unanimous resolution recognizing Mr. Smith’s contributions during his seven years of service as a board member and wished him well in his new endeavors …”

During my tenure on the AHRMA board, Jeff Smith has exhibited only the highest integrity and utmost dedication to AHRMA and our members.

This issue will be further considered at the next meeting of the membership and full board of trustees, scheduled for April 14, following our National Road Race weekend at Willow Springs, CA.

Dave Janiec
AHRMA Chairman/CEO

—AHRMA Board of Trustees