Planning and Finance Meeting Agenda
Wednesday, April 4 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 Michele Bedner, Board Chairman Rodger McKinley
Guests: Treasurer Joyce Carlson, Vice Commodore Michael Day, Rear Commodore Doug Genord
Excused Absences:
Opening Comments: Planning and Finance Chairman Mark Weiss.
Approval of Minutes: Gerald motioned, Jeff 2nd.
Bridge Reports: Commodore Michele Bedner, no report.
Vice Commodore Michael Day, main water break to docks was determined old PVC, and now repaired. Water is back on for dock 2.
Rear Commodore Doug Genord, no report.
Board Report: Rodger going to recommend a BOT resolution to keep better track of the resolutions. Also discussing amendment to allow BOT to authorize tax payments. An upcoming Executive meeting to consider four new applicants.
Treasurer Report: Joyce Carlson, invoices went out. Going on vacation for three weeks. Moving money from one account to an interest-bearing account. Member count is 376.
Old Business:
- Budget 2023-2024 Discussion: Someone asked Mark what the budget process is. On April 7 – Planning and Finance presents draft budget and updated 5-year Capital Plan to Board of Trustees. Will spend time on any major changes or overages from last year. Talk about capital projects and Bainbridge project.
- Michael intends to present the budget to the BOT line by line.
- Some confusion on which budget document is being used in P&F and why it is different in format from the “real” budget. A great deal of discussion was used to figure out a document format.
- Mark reviewed the Income portion of the budget. Gerald’s biggest concern are the missing 25 members. Gerald asked if fewer people might be boating since COVID is over.
- ACTION ITEM better define what the new member revenue is. New Member partial payment needs to be factored.
- Discussed the pro-rated new member revenue contribution and is 390 members too aggressive for budgeting consideration. Decided 390 members is reasonable.
- ACTION ITEM: Rodger requested a recommendation from P&F, that requests documentation showing that a NEW member owes us X amount over three years.
- Jeff suggested updating budget to reflect the $20K of anticipated revenue gained from monies to be held in interest bearing accounts.
- Discussion to introduce to BOT a regular 5%-8% Bainbridge mortgage increase. Expenses climb, as well as inflation, yet revenue is flat or declining.
- Why has King County billed QCYC $4K for a new tax.
- Jeff questioned how the accounting is done for the bar. Michael said he would strive for more visibility into the bar operations.
- ACTION ITEM: Get an estimate from Eric as to when we should execute the contract to get the Bainbridge work started. Terron predicts Eric will say, “Yesterday”.
- Michael intends to present the budget to the BOT line by line.
New Business:
- Mark will put together notes for Rodger on how he can warm up the BOT with several suggestions P&F has.
- Highlight the 5 major items for the BOT.
- Highlight the 5 major items for the BOT.
- Mark said the 520 project will remove a slip on Dock 3, so that whomever may lose a slip has been notified.
Next Meeting: - Tuesday, May 2 at 6:00pm Zoom Meeting