Planning and Finance Meeting Minutes
Tuesday February 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: None
Opening Comments: Planning and Finance Chairman Mark Weiss. Call to order – review meeting outline.
Approval of Minutes: Motioned by Jan, 2nd by Gerald. Approval was unanimous.
Bridge Reports:
-Commodore Michael Day:
- Discussion of by-law vote and information to be provided to the members and discussion at upcoming general meetings. Joyce to post the most recent financials to the website. Bilge Blast to also provide link to financials.
- Noted February Speaker series which will need to be in advance of additional by-law discussion.
- Bainbridge pier and pilings have been removed.
-Vice Commodore Doug Genord:
- Recent meetings with the City of Seattle on parking lot damage show we are a ways apart on assessment of damage and potential remediation. C and VC to continue discussions.
-Rear Commodore Doug Wadden:
- The city has been contacted on hazardous Willow tree at North end next to Dock 1. No response to date. Ray Rebello (on behalf of grounds chair) reported that the arborist indicates that the tree will fall over soon and will escalate findings to the City.
Board Report: Barry Stolzman, Board Chairman:
- Pleased and relieved that Bainbridge ramp project is underway.
- The bylaw change is still in the draft stage and will be ready for the BOT meeting next week.
- Ok with having financials shared with members.
- Lengthy discussion of how to present financial information supporting by-law change at the next general membership meeting. Discussion of how to handle individual or more detailed line items in financials. Mark and Barry to update the slide deck for presentation at Feb 14 general meeting. Mark to be available during meeting to answer questions at more detailed level if needed.
Treasurer Report: Ray Rebello:
- Need to move some funds between different banks to keep below $250,000 insurance limit.
- January financials are still in progress and should be available next week.
Old Business:
- Budget Items from prior years: - still in progress. Mark, Jeff, Joyce working to resolve.
- 520 updates-Street End Lease: No update.
- Reserve study: Will review and update as needed after the dues/bylaw vote.
- Future Budget Funding: Continued discussion of by-law wording. There will be only one bylaw proposed which will include the $150 dues increase and the COLA recommendation. Vote at March 13 meeting. Prescribed notice to members out next week after BOT meeting. Further discussion per above.
- 2024/25 Budget Updates: Several items noted for upcoming budget process including reducing number of annuals, roof cleaning, elevator maintenance. Doug and Mark working on the first draft of detailed budget for 24/25. Will include a 3.5% inflation increase based on our current working model assumptions. Draft to be forwarded before March 5 P&F meeting.
New Business:
- Painting proposal: VC Genord reviewed a proposal for painting the docks. Funds to be taken 15K from current year docks maintenance budget and 30K from 24/25 budget. Work to be done later in the summer. Contractor willing to receive balance of payment in next fiscal year. Project approved.
Meeting closed at 7:26.
Next Meeting: Tuesday, March 5 at 6:00pm Zoom Meeting.
Minutes
February-Jeff
March-Gerald
April-Terron
May-Gerald
June-Jan
September-Jeff