Minutes of Planning and Finance Meeting
December 7, 2021 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, Commodore Margaret Krows,
Guests: Vice Commodore Michele Bedner, Rear Commodore Mike Day, Treasurer Joyce Carlson.
Opening Comments: Meeting call to order at 6:05 PM by Chairman Mark Weiss.
Approval of Minutes: Minutes of November 2, 2021 unanimously approved.
Commodores Report: No report.
Vice Commodore Report: Michele reported on bids for new tent/s in U. One large tent (15X60) is $19,100 and 2 small tents (15X30) are $23,200. Set up will be $2,000. No final decision has been made.
Rear Commodore Report: No report.
Board Chair Report: Board started discussion about QCYC need for a security assessment to protect data.
Treasurer Report: Joyce reported that she had 2 bank’s signature cards ready to sign by the new officers out of the 4 banks QCYC does business with.
Jeff had several questions regarding the most current financials. Joyce will research and send responses to Jeff.
Old Business:
Action items from previous month were reviewed. The first one regarding overspent capital items was resolved in another manner. Action items regarding the amount paid for the loan payoff that came from the contingency fund and the annual process for capital asset allocation are in process of review by Mark and Joyce and will be discussed in future meetings. Joyce will put together a board resolution regarding the capital asset allocation to make it equal to the contingency allocation for Mark to present to the Board. Dock 3 rebuild quotes are still ongoing.
Reserve Study was reviewed. The projects for the next six years with the amounts by year were discussed. The total for that time frame is $1.6 million with many estimated numbers. This will be sent to the Board for their input and consideration.
The committee reviewed the recommendations for 520 funds from the state that had been considered at the previous meeting. After much discussion, a motion was made to recommend to the Board to put all the funds received from the state into the 520 fund. They should remain until the 520 project is complete and there is no further risk to our property. The motion was made by Rick Ashleman. It was seconded by Jeff Ohlstrom. This motion was passed 4-1.
Mark informed the committee that the member presentation powerpoint for the board regarding the increase in dues has been updated for the reserve study information. Mark will take the presentation to the Board.
There was no new business.
Meeting was adjourned at 7:52.
Next meeting will be January 2 at 6:00 on Zoom.