Meeting Minutes of Board of Trustees June 6th, 2022

Queen City Yacht Club Minutes of the BOT Meeting, June 6th, 2022

19:00 – 21:00 hrs.

QCYC Zoom Video Meeting

In Attendance: Captains Doug Genord, P/C Terron Lindholme, absent , Commodore Margaret Krows, Vice Commodore Michele Bedner, Rear Commodore Michael Day, Charlie Soffel- absent excused, Michele Bedner will vote in his absence, Diane Schultz, Rodger McKinley, Gary Turner, and Miguel Suarez.

And presenting: Treasurer - Joyce Carlson, Membership – Valerie Ohlstrom, Planning & Finance - Mark Weiss, Bainbridge Outstation - Eric Wood; Moorage – Dan Heffernan, 520 Update – Mark

Weiss, Website – Gerald Fey; Also in attendance:

The meeting was called to order at 19:04 hrs. by Chairman Doug Genord.

1. Opening Remarks: Chairman Genord thanked the BOT for all the hard work on recent issues regarding planning and finance, budget, and Al Reiche Will.

1. Administrative:
2. Approval of Minutes: Meeting of May 9th, 2022

Prior BOT meeting minutes as submitted by Gary Turner - Secretary, were approved.

1. Membership Report: Val Ohlstrom
   1. 2 applications for membership were to be reviewed.
   2. Garrett Schultz - Approved for Intermediate Membership, John and Julie Salle - Approved
   3. applications waiting for presentation.

1. Treasurer’s Report: Joyce Carlson Highlights:

Financials Review:

April electrical billing was incorrect and will be rebilled to correct the mistake. A solution is under consideration and the process will be in place for the next billing cycle.

• Total Revenue of $1,625,990.00
• Total Expense of $ 636,507.05
• Total Other Expense of $18,459.72
• Net Income of $971,023.52
• Committee Expenses of $68,140.87
• Bainbridge Income - $(35,670.32)
• Bainbridge Expenses of $72,550.92
• Capital Expenditures of $0.00
• Investments Total $1,583,300.91
• Total Current Assets of $110,536.46
• Total Current Liabilities of $38,412.10

MembershipCounts:

Currently there are a total of 584 members including:

• Active Members: 396
• Active Social Members: 10
• Life Members: 72
• Senior Life: 77
• Intermediate: 29
• Pending:
• 4 members eligible for life membership

An update on membership is provided on the financial statement.

1. Committee Reports:
2. Planning & Finance:Mark Weiss –
   1. Informational update to the board regarding 2022/23 budget. Income will increase approx 7% due to dues increase. Expenses will increase about 7%. Initiations will drop by

$20K. Increases due to hikes in insurance, taxes, and general operating expense increases. Capital projects, $50K docks, $240K dock 3 renovation, Gordy Foote gave a heads up that HVAC may need updating, $15K to finish updating electrical in the "U", 3rd deck acoustical tiles, Website update, New door frame $15K. Currently awaiting additional quotes for dock 3 renovation. All of this information will be tightened up in order to finalize 22-23 budget.

Another meeting will be held later in June for final report.

1. Investment Committee- Tom Johnson, presented a draft Charter for investment committee purpose statement. He also presented a draft Rules and curbs that committee must operate around. Will put the mechanics in place and come back in October to elect members to the actual committee. At that time recommendations will be made to the planning and finace committee as to specific investments which would then be brought to the BOT for discussion and eventual approval.

1. Moorage:Dan Heffernan –
   1. No report.

1. Outstation: Eric Wood –

No report

1. Insurance: Dean Lentgis – No report.

1. Architectural Advisory: Doug Henrikson –No report

1. 520 Update:Tom Johnson/Mark Weiss –
   1. Progress on permits for dock 3 work slip relocation on track. September 2023 dates for moving dock 3 work slips. This work will finish in 2024. Open permit valid for 12 more months for dock 3 repairs. Will start repairs this year to avoid time crunch vs. scope of work.
   2. Website:Gerald Fey –
      1. No report

1. By-Laws-Scott Grimm –
   1. No Report
   2. Bridge Reports: