Minutes of Planning and Finance Meeting
January 3, 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,
Guests: Vice Commodore Michele Bedner, Rear Commodore Mike Day, Treasurer Joyce Carlson.
Absent: Commodore Margaret Krows
Opening Comments: Meeting call to order at 6:05 PM by Chairman Mark Weiss.
Approval of Minutes: Minutes of December 7, 2021 unanimously approved.
Commodores Report: Absent
Vice Commodore Report: No report.
Rear Commodore Report: Meeting regarding the technology website is coming up. There is $15,000 this year in the budget. Next year budget amount is unknown. Total upgrade of website is $30,000.
Board Chair Report: No repo
Old Business:
The cash from the state had been received and is in the accounts set up for this purpose. QCYC will move ahead with Dock 3 permitting which is being coordinated with the Docks committee. The previous motion to recommend to the Board to put the funds received from the state into the 520 fund will be presented at the next meeting.
The 5 year plan for capital improvements has been converted to a 6 year plan which was reviewed by the committee. With the high cash needs for capital improvements it was reviewed in relationship to recommendation of the dues increase to the Board. The recommendation could be $100 per year which would amount to $42,000 in additional annual income or $150 per year which would amount to $63,000 in additional annual income. The committee discussed the amount needed in relation to the capital needs. There is no planned increase in the moorage this year. A motion was made by Jeff Ohlstrom to recommend to the Board that the dues be increased by $150. It was seconded by Rick Ashleman and passed unanimously.
Joyce presented a resolution to clarify the annual capital asset fund allocation. The intent was for this process to mirror the contingency allocation but the verbiage in the bylaws was not the same. The committee agreed and this resolution will be presented to the Board for adoption.
Joyce presented a revised financial report for capital projects that she and Mark have been working on. It ties to the banking and investment report and shows if the funds are fully funded. A discussion followed regarding the methods currently used and if there should be changes. Mark, Jeff, Gerald, Joyce and Jan will work on a presentation to the committee so all will understand the allocation.
There was no new business.
Meeting was adjourned at 7:30.
Next meeting will be February 1 at 6:00 on Zoom.
Action items:
Joyce will provide insurance increases and 2006 Moorage rates for Due Increase presentation for Board