Queen City Yacht Club
Minutes of the Board of Trustees Meeting
January 10, 2022
19:00 – 21:00 hrs.
QCYC In Person and Zoom Video Meeting
In Attendance: Captains Doug Genord, P/C Terron Lindholme , Commodore Margaret Krows, Vice Commodore Michele Bedner, Rear Commodore Michael Day, Charlie Soffel, Diane Schultz, Rodger McKinley. Excused: 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
The meeting was called to order at 19:04 hrs. by Captain Doug Genord.
1. Opening Remarks: All
2. Administrative:
With two trustees absent, VC Bedner and RC Day will be voting tonight.
3. Approval of Minutes: Meeting of December 6th, 2021
Prior BOT meeting minutes as submitted by Gary Turner - Secretary, were approved.
4. Membership Report: Val Ohlstrom
a. Ted Wulfman’s application for Active Membership was approved.
b. Membership Counts: Updates provided (see below).
c. Captain Ohlstrom requested that the BOT approve a motion that serves to ratify all unsigned approved membership applications (due to virtual meetings). The motion as approved by the BOT is: “All unsigned approved membership application forms submitted from March 1, 2020 to January 10, 2022 shall be deemed “approved and signed” as evidenced by approved BOT meeting minutes.”
d. Captain Ohlstrom will henceforth make a notation on all future approved membership applications that BOT approval is documented within the approved recorded BOT meeting minutes.
5. Treasurer’s Report: Joyce Carlson –
Highlights:
a. Funds were received from WDOT for the 520 Project resulting in extraordinary income for the period. Club Accountant has been alerted to ensure proper treatment of funds for tax purposes. $150K was moved to Homestreet Bank to replaced depleted funds due to electrical loan payoff.
Financials Review: Treasurer Carlson presented a financial summary (see financial
attachment) through the end of December 2021 as follows:
• Total Revenue of $1,230,679.86
• Total Expense of $ 253,826.71
• Total Other Expense of $0
• Net Income of $976,853.15
• Committee Expenses of $25,927.79
• Bainbridge Income - $(20,932.76)
• Bainbridge Expenses of $13,883.96
• Capital Expenditures of $0
• Investments Total $1,559,124.81
• Total Current Assets of $(8,712.76)
• Total Current Liabilities of $35,403.48
Membership Counts:
Currently there are a total of 574 members including:
• Active Members: 392
• Active Social Members: 9
• Life Members: 68
• Senior Life: 77
• Intermediate: 28
• Pending: 2
• 4 members eligible for life membership
An update on membership is provided on the financial statement.
6. Committee Reports:
A. Planning & Finance: Mark Weiss –
1. A recommendation to ensure the 520 Project funds are protected until such time the 520 Project is no longer a risk to QCYC property. A resolution will be drafted and presented for a BOT discussion and vote at the next BOT meeting. Several members expressed support for the resolution.
2. Captain Weiss walked through the final presentation deck from P&F to the BOT regarding the need to close a forecasted Capital funding gap. Members discussed the merits of various potential membership fee increases. Captain Genord has the lead to develop summary slides that would be used to bring the discussion to the Bridge and general membership.
3. Several members inquired on By-Law investment guidance/restrictions and if there are any merits to using higher-yield investments while maintaining low risk. This is relative to the extraordinary reserve for the 520 Project.
B. Moorage: Dan Heffernan –
Quiet – little activity.
C. Outstation: Eric Wood –
Telegraph Harbour Marina, B.C. is now under contract as the replacement outstation for Thetis Island, B.C. Captain Wood provided details of how and why the Thetis Outstation was changed. The change is reflected on the club website. Their season is April thru October.
D. Insurance: Dean Lentgis –
No report
E. Architectural Advisory: Doug Henrikson –
No report
F. 520 Update: Tom Johnson/Mark Weiss –
Work continues on the SOW with Docks Committee to support the permitting process for Dock 3 work slip moves.
G. Website: Gerald Fey –
Technology Team recently met regarding issues with website upgrades.
H. By-Laws- Scott Grimm –
No report
7. Bridge Reports:
A. Commodores Report: Margaret Krows -
1. Thanks to Greg Burgess and Rico Adams for their assistance with gate/electrical issues at the B.I. Outstation due to king tides (recurring problem).
2. Fire Department lock box being upgraded to ensure future access for emergency response. In the meantime, 911 responders will need someone to open the doors/gates.
Captain Woods provided some B.I. history on the ramp, pier, utilities. Utilities are underwater at on an average of 4 times per year on a regular basis. Captain Woods expressed the urgency in addressing the pier and ramp, but most importantly, utilities are the critical element.
B. Vice Commodores Report: Michele Bedner -
1. Last weekend the VESC completed 10 inspections bringing the fail status number to 128 of which 22 are current moorage boats.
2. Next inspections are Feb 19th and March 19th.
3. Some owners are out of state during the winter and do not have anyone appointed to take care of boat in emergencies or to provide access for inspections. A suggestion was made that all moorage boats need to have a local contact that can be responsible for emergencies while the owner is out of state. It was also suggested that QCYC cannot wait until the owner is back in town to complete the inspection. Rule enforcement continues to be a challenge and is being worked by the VESC, Moorage Chair, and the Bridge.
C. Rear Commodores Report: Michael Day –
Grounds Committee is needing more help.
8. Old Business:
None
9. New Business:
a. Two delinquent member accounts were discussed along with the efforts made by Captain Carlson and the Office Manager to secure a remedy. A motion was made and approved to: “Send a final letter with notice of membership termination effective at the end of seven (7) business days if the delinquency is not resolved.” Primary signatory should be BOT Chairperson with Commodore’s co-signature.
b. Planning and Finance is recommending an amendment to Section 2 of the Capital Assets Resolution (adopted June 8, 2020) that established the “Capital Asset Fund”. Clarification is needed for how the Capital Asset Fund is funded by the Treasurer. Captain Weiss shared a draft amendment which would replace Section 2 of the Capital Assets Resolution with language that references the provisions in the By-Laws Article IV, Section 13 – Contingency Reserve Fund. By referencing the funding process codified in the By-Laws, the Capital Asset Fund will be funded in the same manner as the Contingency Reserve Fund. A motion was made to adopt the draft amendment as presented and was approved.
10. Good and Welfare:
None
11. Adjourn at 20:50 hours.
Next Regular Board Meeting: 7 pm, Monday, February 14th, 2022