Minutes of Planning and Finance Meeting
October 4, 2022 6:00
Meeting held both at QCYC and remotely Zoom Meetings
P&F Committee Members: Chairman P/BC Mark Weiss, Jeff Ohlstrom, P/BC Gerald Fey, P/BC Rick Ashleman, Jan Gould, Board Chairman Doug Genord (and his expected predecessor, Roger McKinley).
Guests: Vice Commodore Michael day, Rear Commodore Doug Genard, Treasurer Joyce Carlson, Pending Finance member Terron Lindhome and Rodger McKinley, the expected Board chair for next year.
Opening Comments: Meeting call to order at 6:03 PM by Chairman Mark Weiss.
Approval of Minutes: Minutes of Sept 6 unanimously approved as presented.
Commodore’s report: Not attended due to personal situation.
Vice Commodore reports: No report. Mark told Mike that he will forward the parking lot vendor list to him.
Rear Commodores report: No report.
Board report: Budget was approved at the last Board meeting. Rodger reported that the personal representative of Al Reiche’s estate made an offer that was not adequate. QCYC was left his boat in his will and there is no reason to accept less than the sale proceeds. Boat sold for $50,000 and QCYC was offered $8,000.
Treasurers Report: No report. She asked if a capital expenditure was budgeted at $10,000 which is the amount QCYC established for capitalizing an expenditure versus expensing it. If it turned out to be less, should it still be capitalized? The committee discussed that the dollar amount was just a target but there were other considerations such as intent and life of asset.
Old Business:
There was no old business.
New Business:
Terron Lindholme was nominated as the new Planning and Finance member. Rick made a motion that was seconded by Jan. It was passed unanimously.
Gerald made a motion for Mark to be the Planning and Finance Committee chairperson. It was seconded by Jeff and passed unanimously.
The next order of business was the reserve study in the approved budget. Mark will send the amount spent in the last year. Rick recommended that it be sent to the chairperson of the docks, house and outstation committees. Projects to make sure are in study are the opening day float, painting of the docks, work slip 2, and the maynard deck float.
Discussion on the committee’s goals for next year are:
Development of Investment committee
Board education-‘paper vs cash’ in regards to the funds and the timing of the budget
21/22 closing numbers-November board meeting
Mark shared with the committee the 520 impacts to the club. They include Junior Boating, opening day float and moorage issues.
Jeff asked Terron about the electrical pedestals. Terron informed the committee that the out station is all done but there are issues regarding the increased need for 50 amps by the larger boats.
The meeting was adjourned at 6:43.
Next meeting will be November 1st at 6:00.
Action items:
None