Board of Trustees Meeting of December 12, 2005

A regular meeting of the Board of Trustees was held in the Clubhouse on December 12, 2005.  All Board Members and Flag Officers were present with the excused exception of Commodore Grimm and R/C McGillin. Others in attendance included Captains Ed Jennerich, Art Mauldin, and Bill Packard

CALL TO ORDER:  A quorum being present, Chairman Stone called the meeting to order at 1900 hours.
   
MINUTES OF THE PREVIOUS MEETING:  The Minutes of the previous meeting of November 14, 2005 were approved as submitted by email.

MEMBERSHIP REPORT:    Captain Ed Jennerich reported there are currently 370 active members and 30 vacancies.  Applications for membership submitted by Brett Goodwin, Tony Johnson, and Tom Roth were reviewed and approved.  The Membership Committee is preparing a plan to attract new members, particularly those of young age.

TREASURER’S REPORT:  :  Treasurer Farber reported that 6 club members resigned/withdrew their membership rather than pay dues.  Five additional members are delinquent in their dues payment.  One of those five (Captain Arnie Thompson) has claimed financial hardship.  It was M/S/C by the Board that this member be offered the opportunity to pay his delinquent dues, and $1000 of remaining initiation fee, in $400 monthly increments by no later than the 15th of January, February, and March, 2006.  If he defaults on any payment his membership will be terminated.  Treasurer Farber reported that he will continue attempts to contact the other four delinquent members and if they have not paid by January 1, 2006, their membership will be terminated.

Treasurer Farber presented the December financial statement (ATTACHMENT
#1).  Dues income is behind budget because dues credits from the previous year were not  included.  Revenue was a bit ahead of budget, and expenses a bit lower than budget.  Consequently, net income was $4100 above budget.  Net income for the Winslow outstation is also above budget.  Total equity is up by approximately $200,000.  Of the $158,351 allocated for the Capital Budget, $4205 has been expended thus far.

The club has 5 bonds at $40,000 each, and one bond at $50,000.  One of the smaller bonds matures in December.  The Board agreed with Treasurer Farber’s recommendation that this bond be renewed and increased to $50,000.
   
PLANNING AND FINANCE COMMITTEE REPORT:  No report.

BOARD CHAIRMAN’S REPORT:   Chairman Stone reported that the Board currently has a Directors and Officers liability insurance policy for $1M with an annual premium of $2367.  He recommended that the club also purchase an Employment Practices policy to protect against liability claims by club employees.  The Board was favorable toward this recommendation and directed Chairman Stone to inquire what the premium would be for a combined D&O and EP policy with a liability limit of $2M.

COMMODORE’S REPORT:  No report.

VICE COMMODORE’S REPORT:   V/C Yates deferred his report to the representatives from the Docks Committee.

Captain Art Mauldin reported that a thorough analysis of the status of the docks had been completed.  He praised those club members who invested considerable time and energy in completing this project.  Captain Mike Fish presented and discussed the final report (ATTACHMENT #2).  The dock caps are in disrepair (9% are critical and in need of immediate attention, 13% need urgent attention, 14% will fail in <2 years).  Causes for the cap deterioration include lack of routine maintenance, natural hazards, and heavy roofs.  If the caps are not remedied there is a risk of dock collapse, loss of revenue, damage to vessels, and possible injury to members or guests.  The 29 caps that are in need of emergent attention are currently being repaired with $48,000 in funds previously approved by the Board.   Completion of emergent repairs is expected by January, 2006.

Captain Mauldin presented a formal recommendation by the Docks Committee for addressing the failing docks (ATTACHMENT #3).  The report included four proposals.  (1) Modification of the shore end of Dock 3 to accommodate storage and increase safety – est. $2800, (2) Replacement of downspouts – est. $1250, (3) Reinforcement of finger piers – est. $4900, and (4) Replacement of piling caps – est. $87,500.  There is urgency in repairing the caps, not only because of safety issues, but because parts must be ordered weeks in advance and because the contractor may not be available when needed.

It was M/S/C that the Board authorizes funding of Proposals 1 and 2.  Further, it was recommended that these funds come from the Dock Maintenance budget, but that this decision regarding the source of funding must be first considered by the Planning and Finance Committee.

It was M/S/C that Proposals 3 and 4 be referred to the Planning and Finance Committee, that the P&F committee meet to consider the issue as soon as possible, and that a formal recommendation be brought back to the Board.  Emergency meetings of both groups may be necessary.  Furthermore, the Board requested the Dock Committee provide the following information to assist the P&F Committee in making a recommendation to the Board:  A summary of the current authorized work to include the number of pile caps to be replaced under the current Waterfront contract; the total cost of the currently funded pile cap replacement project; and a detailed projection as to the number of additional caps to be replaced, the schedule for replacement, and estimated associated costs.

REAR COMMODORE’S REPORT:   No report.

OLD BUSINESS:   The clubhouse rental policy issue was deferred since a report had not yet been received from the Planning and Finance Committee.  P/C Ewell reported that an agreement had been reached with the Seattle Sail and Power Squadron regarding use of the clubhouse (ATTACHMENT #4).  The Board supported the agreement as written.

NEW BUSINESS:  P/C Ewell observed that the calendar on the QCYC website was missing several events.  He will address this issue with the Commodore.  Captain Cullen proposed that consideration be given to moving the reciprocal slips so that members could occupy this prime location.  The issue has been referred to The Bridge.

MEMBERS COMMENTS:   None

ADJOURNMENT:  The meeting was adjourned at approximately 2110 hours.

Respectfully submitted,


Bruce F. Cullen, MD
Secretary