Yup, you have a jiffy reefing system
If you look you have three Pulleys in the end of you boom. Thats because your boom was made for a sail with two sets of reef cringles (the hole in your sail that you pull fown to reef the sail) Anyway your boat is set up so that you can lower you sail by lowering the Mainsheet halyard (the line that you pull to make the main sail go up the mast) to bring the luff crigle down enough so you can hook the luff cringle onto the rams horn (the hook by the mast that lloks like a rams horn) then retighten the halyard with the luff cringle in the rams horn. After that is done then you pull on the line that runs through the boom goes over the pully up into the leech cringle and then back down to the boom. The end of the line should then be fastened to the boom about four inches behind where the leech cringle would touch the boom. The reason you should have the line four inches back of the a spot that is directly under the leech cringle is to tighten the foot of the mainsail when reefed. As you stand by the mast and pull on this line you will notice that there is a cam cleat that will hold the line in place after you pull it. Thats about it. When you first set up you boat in the spring, set this up so you can reef when you need to and leave it that way. Its a real bitch to have to reef when the winds up and your not set up to do it.
