West River Yacht Club Meeting Minutes

Transcription

1 West River Yacht Club Meeting Minutes October 4, 2015 I. Call to order Commodore Katy McCaffrey called to order the regular meeting of the West River Yacht Club at 1600 on October 4, Captain Ron Albrecht led the Pledge of Allegiance. Commodore Katy McCaffrey led the opening prayer. II. Roll call Secretary Angela Edwards conducted a roll call. The following members were present: Albrecht, Beall, Brown, Catlett, Crosley, Dorris, Edwards, Falk, Hickman, Hilley, Lauer, Mason, McCaffrey, Reuschling, Schmitz and Stein. A quorum was present. III. Approval of minutes from last meeting The minutes of the June 2015 meeting were prepared and distributed electronically. The minutes were approved. IV. Officer reports 1. Secretary/Treasurer Angela Edwards S/T Edwards presented the bank reconciliation and financial report for the period ending September 30, The general checking account has a balance of $32,161, 94 The Fleet Captain account balance is $ Fleet Captain Glen Reuschling F/ C Reuschling reported that both the July 4 th and Labor Day cruises were successful events, with 41 and 51 attendees respectively. The Aquapalooza event was cancelled due to weather. F/C Reuschling reported that the Crab Feast and Steak Cookout were successful events and thanked all that helped. The Tilghman Island Days cruise to Knapp s Narrows, the Fall Clean-Up Day and the Christmas Party are the next three events. Details will be distributed via as the events near. F/C Reuschling announced that there are still slips remaining in Annapolis for the Parade of Lights.

2 3. Rear Commodore Ed Dorris R/C Ed Dorris distributed and reviewed the capital improvement/maintenance projects spreadsheet. The bar refresh project was completed under budget, thanks in part to contributions from the Crosleys and Taymans. R/C Dorris discussed the need for roof repairs before winter. Past Commodore John Lauer offered to have the repaired completed at no cost to the club. 4. Vice Commodore Steve Beall V/C Beall announced that a committee would be assembled to explore the options for replacement of failing pilings. V/C Beall discussed the need to replace several planks on the docks during Fall Clean Up in November. 5. Commodore Katy McCaffrey No report. V. Committee reports 1. Budget Captain Steve Edwards Captain Edwards reviewed the third quarter financial report and presented a proposed budget for 2016 based on an analysis of income and expenses over the past three years. (See Attached) Captain Edwards has proposed an increase in slip fees be considered for next year to start building a reserve to fund the many projects that will need done over the coming years. Captain Edwards presented an analysis of costs of other local marinas as part of the budget proposal. (See Attached) 2. Audit Rose Tayman No Report. 3. Hospitality Sue Hickman No Report. 4. Change of Watch V/C Steve Beall

3 V/C Beall reported that he is considering a Change of Watch ceremony in April/May/June 2016 at the Marlboro Hunt Club. More details will be forthcoming. 5. Bylaws V/C Steve Beall V/C Steve Beall is preparing recommendations for changes and will present these at the December 2015 meeting. 6. Website P/C Kathy Schmitz P/C Schmitz reported that the website is current will all information that has been provided and requested that anyone with photos of events use the link on the website to submit those for posting. 7. Nominating P/C Kathy Schmitz P/C Schmitz reported that nominations for 2016 will be presented under New Business. 8. Planning R/C Ed Dorris R/C Ed Dorris distributed the capital improvement/maintenance worksheet for review. 9. Safety Captain Ron Albrecht/ Captain Norm Stein Captain Stein reported that a First Aid kit has been placed next to the AED and that an information sheet containing the address of the club has been placed next to the phone. 10. Historian P/C Lew Mason No Report 11. Membership P/C Lew Mason VI. Old business None VII. New business P/C Mason reported that we have new provisional members. The application will be forwarded to S/T Edwards. Two additional inquires have also been made.

4 Slate of Officers: P/C Schmitz announced the slate of officers proposed for 2016 is as follows: Commodore: Steve Beall Vice Commodore: Ed Dorris Rear Commodore: Glen Reuschling Fleet Captain: Vacant Secretary/Treasurer: Norman Stein Board of Governors: The Commodore called for nominations from the floor for the Board of Governors. The following nominations were made. Ron Albrecht Brian Hickman Ed Hilley Lew Mason Gary Tayman There being no other nominations, the slate for the Board of Governors was closed. VIII. Next meeting The Board of Governors will meet on Sunday, December 6, 2015 at The General Membership will meet on Sunday, December 6, 2015 at IX. Adjournment Commodore Katy McCaffrey adjourned the meeting at Minutes submitted by: S/T Angela Edwards

5 West River Yacht Club Income & Expense Statement January - September 2015 Actual 2014 Current YTD Budget 2015 % Budget 2015 Ordinary Income/Expense Income Facility Use (Clubhouse Rental) 1, % Fleet Captain Surplus 1, , , % Initiation Fee (Provisional) 1, , % Investments NA Locker Rental NA Membership Dues 26, , , % Ship's Store % Slip Rental 25, , , % Transient Dockage % Total Income 56, , , % Expense Accounting (Tax Preparation) NA Bond Interest 5, , , % Bond Principal Repayment 14, , , % Dock Repair/Maintenance 1, , % Total Dock 1, , % Facilities and Equipment Real Estate, Personal Property Tax 8, , , % Total Facilities and Equipment 8, , , % Fleet Captain - Member Events 6, , , % House Cleaning Service 1, , , % Clubhouse Supplies , % Fire Extinguisher Service % Lawn Care 3, , , % Repair/Maintenance 2, , , % Trash Collection , , % Water Treatment , % Total House 9, , , % Insurance 1, , , % Operations Office Supplies % Other Operational Expenses % Postage, Mailing Service % Web Hosting % Total Operations %

6 Other Types of Expenses % Change of Watch 1, , , % Memberships and Dues % Total Other Types of Expenses 1, , , % Utilities Electricity 2, , , % Fuel Oil 2, , , % Telephone/Cable/Internet 2, , , % Water % Total Utilities 7, , , % Total Expense 55, , , % Net Ordinary Income 1, (4,070.93) 1, Other Income/Expense Other Income N/A Other Expense Ask My Accountant N/A Total Other Expense N/A Net Other Income (5.55) (0.50) 0.00 N/A Net Income 1, (4,071.43) 1,250.00

7 West River Yacht Club Proposed Budget Actual 2013 Actual 2014 Budget 2015 YTD 2015 Budget 2016 Ordinary Income/Expense Income Facility Use (Clubhouse Rental) , Fleet Captain Surplus 1, , , , , Initiation Fee (Provisional) 2, , , , Investments Locker Rental Membership Dues 27, , , , , Ship's Store Slip Rental 26, , , , , Transient Dockage Total Income 57, , , , , Expense Accounting (Tax Preparation) Bond Interest 5, , , , , Bond Principal Repayment 10, , , , , Dock Repair/Maintenance 1, , , , Total Dock 1, , , , Facilities and Equipment Real Estate, Personal Property Tax 7, , , , , Total Facilities and Equipment 7, , , , , Fleet Captain - Member Events 4, , , , , House Cleaning Service 3, , , , , Clubhouse Supplies , , Fire Extinguisher Service Lawn Care 4, , , , , Repair/Maintenance , , , , Trash Collection , , , Water Treatment , Total House 9, , , , , Insurance 1, , , , , Operations Office Supplies Other Operational Expenses Postage, Mailing Service Web Hosting Total Operations Other Types of Expenses Change of Watch 1, , , , , Memberships and Dues Total Other Types of Expenses 1, , , , , Utilities Electricity 1, , , , , Fuel Oil 2, , , , ,250.00

8 Telephone/Cable/Internet 2, , , , , Water Total Utilities 6, , , , , Total Expense 50, , , , , Net Ordinary Income 7, , , (4,070.93) 5, Other Income/Expense Other Income Other Expense Ask My Accountant Total Other Expense Net Other Income 0.00 (5.55) 0.00 (0.50) 0.00 Net Income 7, , , (4,071.43) 5,035.12

9 To: Board of Governors West River Yacht Club From: Steven Edwards Budget Committee Date: September 25, 2015 Re: Budget Proposal 2016 I will be out of town for the October 4, 2015 meeting so I am forwarding the following budget recommendation for your review. I am available to answer questions in advance of the meeting and will be available by phone ( ) during the meeting if there are any questions or concerns. As the Chair of the Budget Committee, my greatest concern is that the operating expenses of the West River Yacht Club are increasing. The most recent assessment of our property value will result in a significant increase in our property taxes in the coming years and we have projects that need to be completed to maintain the clubhouse, docks and grounds in an acceptable condition. It is also good practice to have at least one year s operating budget in reserve, and we are currently falling short of that goal as well. In preparing this recommendation, I conducted a quick analysis of the fee structure of the other marinas in the general area. The average boat length at WRYC is slightly over 38 feet, so I used that figure to complete the cost analysis. The findings are as follows: Wet Slip Annual Fee Rhode River Marina $4000 Turkey Point Marina $3000 Anchor Yacht Basin $3600 Mears Annapolis $10900 Annapolis City Marina $5900 Rockhold Creek Marina $3875 Bristol Marina $3500 The fee for a comparable slip at WRYC is $1500, plus the annual membership fee of $1300, for a total cost of $2800. This includes use of the clubhouse, ice machine, tickets to three events and many other amenities. This is well below the average slip fee for the area.

10 Based on these findings, my recommendation is that WRYC increase the slip fee by $300 per slip. This will generate $5100 of additional revenue annually, if we assume that 17 slips will be occupied. This can be accomplished in one of two ways: Increase each slip fee by $300 per year Recalculate the coefficient that is used to determine the slip fees in order to generate an additional $5100. The second option is the most fair, because it is based on the square footage of each slip, and would therefore be my recommendation. Even with this increase, we would still be on the lowend of slip fees in the area, and the burden on each member is relatively small. Please contact me if you have any questions or need additional information.

11 Article IX Initiation Fees, Dues, Other Charges and Assessments Section 2. The dues shall be One Thousand Two Hundred ($1,200.00) One Thousand Three Hundred Dollars ($1,300.00) for active membership, payable in advance annually: or, in two equal semiannual installments, due January 1, and July 1 of each year. Yearly dues shall include two admissions to each of three events including Opening Day, the Steak Cookout, and the Crab Feast. The three specific events covered by the dues may be changed during the year by a simple majority vote. Note: Current bylaws proposed for change are noted with the strikethrough. New wording is in bold. Respectfully Submitted: Barbra Symonds - Member