Planning and Finance Meeting Minutes
Wednesday, June 4th 6:00 PM Zoom Meeting
P&F Committee Members: Chairman P/BC - Mark Weiss, P/BC - Gerald Fey, Jan Gould P/T, Dan Grimm, Commodore Michael Day, Board Chairman Barry Stolzman
Guests: Treasurer David Ulfers, Vice Commodore Doug Genord, Rear Commodore Doug Wadden
Opening Comments: Planning and Finance Chairman Mark Weiss. Call to order 6:04 – review meeting outline.
Approval of Minutes: Motioned by May 15th by Jan with adjustments made by committee. Approval was unanimous.
Bridge Reports:
-Commodore Michael Day:
He will get survey to members regarding volunteer credits for moorage.
Working with Vice Commodore Doug Genord and City of Seattle to get resolution of parking lot damage.
-Vice Commodore Doug Genord:
Working on Audrey raise and phone issues from last month.
Dock painting project has been moved from July to September. This project cost is covered by $15,000 in Micheal’s budget and $30,000 in Doug’s budget.
Meeting with City of Seattle to resolve costs to be reimbursed to Queen City Yacht Club for water damage. Original estimate was $220,000 plus repairs to the sidewalk and street. Our biggest challenge is that even with visible damage to the asphalt City will not admit fault. Possible solutions are to get a lawyer to help or try to find other department or employee within city.
-Rear Commodore Doug Wadden:
Doug informed the committee that there are 9 new members pending board approval. Possible that this could be up to 12 new members-4 would be in September.
Board Report: Barry Stolzman, Board Chairman:
Barry reported that the Board meeting was next Monday and that the first hour (6-7) would be spent approving the potential new members. From 7 on, they would be working on the budget for 2024-25.
Treasurer Report: David Ulfers:
Distributed prior months financials. Working to get up to speed and plans to contact past treasurers for more background.
Old Business:
Budget Items 2022/23 and 2023/24 – Finalize Adjustments -Defer to September Meeting. The total is $79,000.
($33K) for 21-22
($46K) for 22-23 budget
How did we get these deficits? Take action at next meeting with Budget process
520 Updates – Street End Permit/Lease status
Contract awarded to Skanska in March. Water work will start in August. Overall project will take 6 years.
Initial project will take place sometime from September to April and will take 60 days. All boats moored beyond the worksheds on dock 3 will need to be moved for 60 days. State is responsible for obtaining and paying for moorage. The number of boats involved is 22 boats but QCYC will lose only 1 side tie slip and the reciprocal slip in the project.
There is a $7000 Bond for the Roanoke Street End lease which is in place until lease goes away.
Reserve Study Update
Part of budget discussion.
2024/25 Budget
Review V.C. Doug G budget
Current reiteration shows net income at $417,000 with capital costs of $219,000.
Adjusted operating budget for $9000-only one annual per membership plus transfer of dock painting of $30,000 to capital.
Capital adjusted for $30,000 of dock painting less removal of clubhouse painting for $19,000..
Budget will be adjusted for the above and distributed.
ACTION ITEM: Review of electrical rates to make sure QCYC is charging correct to members to net to zero. Jeff will work with Dave to verify procedures.
New Business:
- No new business
Meeting closed at 7:30 PM.
Next Meeting: Wednesday, September 4th at 6:00pm Zoom Meeting. (note date change)
Minutes
June-Jan
September-Jeff