Planning and Finance Meeting Agenda
Monday, December 6 6:00 PM Zoom Meeting
P&F Committee Members: Chairman P/BC - Mark Weiss, P/BC - Gerald Fey, Jeff Ohlstrom, Jan Gould P/T, Terron Lindholme P/C, Commodore Michael Day, Board Chairman Barry Stolzman
Guests: Treasurer Ray Rebello, Vice Commodore Doug Genord, Rear Commodore Doug Wadden, Joyce Carlson P/T
Excused Absences: Michael Day, Commodore
Opening Comments: Planning and Finance Chairman Mark Weiss.
Approval of Minutes: Motioned by Terron, 2nd by Gerald. Approval was unanimous.
Bridge Reports:
-Commodore Michael Day had no report (not at meeting).
-Vice Commodore Doug Genard had no report.
-Rear Commodore Doug Wadden had no report.
Board Report: Barry Stolzman, Board Chairman reported that the $42,000 found by Planning and Finance to pay for the 10 feet in Bainbridge from the $50,000 520 Betterments fund along with the existing $10,000 will total the $52,000 needed.
Treasurer Report: Ray Rebello: There are several members who still owe dues and he is working on collecting them along with the late fee charged. There was a progress payment of $152,000 paid for the Winslow outstation project. T-bills have been purchased in the amount of $200,000 which are part of the 520 funds.
Old Business:
- Budget Items: . Committee reviewed what the shortfall is at September 30,2023. Mark wanted to wait until the December fund entries were made to determine final adjustments.
- 520 updates-Street End Lease: QCYC is continuing to work with city to finalize. Resolution will be signed with city.
- Reserve study: Mark reviewed the presentation about the reserve study and current shortfalls. The committee reviewed the past and current fixed and variable expenses. Also reviewed were the reserve capital needs which currently show a $673,000 shortfall along with the unfunded shortfall for needed dock painting. The committee had many suggestions and additions to the presentation. Some of the these include capital expenditure analysis to make it is reasonable and includes increases/labor and a reminder that reserve study is best measure QCYC has of future needs.
Committee agreed that there needs to be a major effort to educate members as to the monetary amounts to maintain our properties. We need to ‘tell the story’ so bylaws changes can be facilitated. In the education plan to members, it will need to communicate 5 year capital plan, 30 year capital plan and fixed expense increases.
- ` Future Budget Funding:
- Working session to address the points below set for December 14. Committee will recommend the amount of $ needed, where to get the $ and the improvements needed.
- Committee reviewed dues survey from Grand 14
- Bylaw updates to add inflation based automatic increases and monthly or quarterly billing will be discussed in future meetings.
- Still to be addressed is a plan for member vote on bylaws in February so a second vote can take place before summer break and other possible budget process update.
- Working session to address the points below set for December 14. Committee will recommend the amount of $ needed, where to get the $ and the improvements needed.
New Business:
Gerald suggested a couple of possible savings in our expenses for the next year (2024-25).
- He reported he had discussed that QCYC could cut the circulation of our roster to one per member number. They now cost $25,000 in total and that would save $10,000.
- The other possible savings could be in insurance. He thought we should look at other options. It might be beneficial to talk to other grand 14 clubs and see who they use for insurance. A potential issue that QCYC might have is the age of their docks.
Meeting closed at 7:45.
Next Meeting: Tuesday, January 2nd at 6:00pm Zoom Meeting (Jeff will do minutes)
Minutes
January-Jeff
February-Jeff
March-Gerald
April-Terron
May-Gerald
June-Jan
September-Jeff