Minutes of Planning and Finance Jue 6th, 2023

Planning and Finance Meeting Minutes

Tuesday, June 6  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: None

Opening Comments: Planning and Finance Chairman Mark Weiss.

Approval of Minutes:  Terron Lindholme, correction to minutes from VC Day and Chair Rodger McKinley

Bridge Reports: Commodore Michele Bedner:  Inspectors for ground integrity will visit soon.

Vice Commodore Michael Day:  Looking for budgeting for pictures for the Historical Committee

Rear Commodore Doug Genord

Board Report: Rodger McKinley, Board Chair:  QCYC will be getting a bill for recent Tax Attorney work.  Taxes relative to the 520 settlement are in great shape and require no tax liabilities for QCYC.  Terron made a motion that P&F recommends to the Board that we use the 520 fund reserve funds to pay for the attorneys investing the 520 tax liabilities from the 520 income settlement.  Jeff seconded. Passed.

Treasurer Report: Joyce Carlson:  Joyce joked she was going to give a one hour report. Interest we made last month was $6922. Going to invest in more t-bills. Office Credit Card machine is about to be discontinued from product support. They are looking into Square to replace current system.  Square and PayPal both charge 3.5%.  VC Day will work to notify membership that there will be a rate increase to 3.5%.  With Craig Ranta’s help, Office is actively moving to QuickBooks Online from installed version now.  Allows 5 users and all “money centers” including Bar Operations, Store Operations and Jr Sailing.  Expects to be live in June.  Joyce gave a shared-screen demo.  Comments were mostly, “Joyce really is going to give a one hour report, isn’t she?”

Old Business:

• Budget Review 2022-2023 – Review
  • Capital spend to date - $576k
• Budget 2023-2024:
  • Mark commented on V/C Day’s 2023/24 Budget:
    • Net income is still down $22k after proposed moorage increase and other income increases.
    • Updates to V/C Day’s budget:
      • P&F recommends to the BOT to change from $20K to $23K regarding the Roanoke Street End lease expense.
      • QCYC will have a moorage loss of 2 side-ties on Dock 3 due to 520 Bridge distance limits.
      • Jeff asked for an updated 2024 budget proposal by July.
  • Review of 5 year Capital Plan:
    • Jeff has updated the 5 year plan.  Please review this and provide input by Friday 6/9 end of day.
    • Reserve study (RS) in progress.  RS has met with docks and house committee chairs and made preliminary rounds of the facilities.  More work to be done.
• Mark’s 520 Bridge Updates:
  • Work Slip Dock move will be part of the 520 new Bridge contract.
    • The same company that is building the bridge will be responsible for modifying Dock 3.
    • Structural evaluation of Dock 3 to be completed within the next 30 - 60 days.  The evaluation is taking a benchmark of where the club house literally sits, its structural soundness, as well as that of the docks and a bathyspheric evaluation of our marina.
    • Work with VC/Day regarding Docks to fund requirements of an additional $60K - $90K Dock 3 betterments.
    • Timeline to start is as early as Oct 2023 and as late as March 2025 with 60 days to complete the work.
    • Foot print of Lease has expanded due to Work Slip increase size and addition of 3 side ties.

New Business:

• Mark experienced technical difficulties.  Anxious crowd discussed motion to adjourn but no one was willing. Mark called back in via phone (How 2010).
• We all wished every other a great summer, and sang a song of summer hope:  Margaritaville.

Next Meeting:  - Tuesday, Sept. 5 at 6:00pm Zoom Meeting