Minutes of Planning and Finance Meeting
June 2, 2022 6:00
Meeting held both at QCYC and remotely Zoom Meetings
P&F Committee Members: Chairman P/BC Mark Weiss, Jeff Ohlstrom, P/BC Gerald Fey, P/BC Rick Ashleman, Jan Gould, Board Chairman Doug Genord, Commodore Margaret Krows
Guests: Vice Commodore Michele Bedner, Rear Commodore Mike Day, Treasurer Joyce Carlson.
Opening Comments: Meeting call to order at 6:05 PM by Chairman Mark Weiss.
Approval of Minutes: Minutes of May 3rd unanimously approved as presented.
Commodore’s report: No report.
Vice Commodore reports: No report.
Rear Commodores report: No report.
Board report: Doug reported that the Board is interested in reviewing the budget for next year.
Treasurers Report: No report.
Old Business:
In the 520 update, Mark reported that there was a meeting today with the consultant with the state and tribes also participating. The goal is a final signed mitigation agreement. This group will start meeting weekly.
Next was the budget update. Currently the deficient has grown to $113,000 from $94,000. Under capital items, the largest piece is the docks for pilings which is $40,000 for 21/22 and $50,000 for 22/23 along with $240,000 for dock 3 repairs. It is possible that the state will bear some of this cost.
The hope is that the budget deficit will be made up with a reduced dock capital budget once all the documentation/estimates are in. If this does not happen and the portions of the dock project cannot be delayed until the next budget year, the difference may need to come from the contingency fund.
Gerald presented a schedule comparing the reported fund amount with total cash by quarter in 2021 and by month in 2022. The two quarter end months that the cash was short were September 2021 and December 2021. This information was reviewed by the committee and will be discussed more at future meetings.
An update on the investment committee was given by Mark. Tom wrote the Investment Committee and Policy Statement. This document will be sent to the P&F committee members to review and then will be discussed at the September meeting. The draft policy statement will recruit 4 members who will make recommendations regarding the QCYC cash. Initially this will be a charter advisory committee under Planning and Finance but could be revised by Board to become more permanent after an initial period of operation.
NEW BUSINESS
Selection for a new committee member will be done in September. There were several suggestions
The meeting was adjourned at 7:55.
Next meeting will be September 6th at 6:00.
Action items:
None