Minutes of Planning and Finance Meeting
May 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, Commodore Margaret Krows
Guests: Vice Commodore Michele Bedner, Rear Commodore Mike Day, Treasurer Joyce Carlson.
Opening Comments: Meeting call to order at 6:08 PM by Chairman Mark Weiss.
Approval of Minutes: Minutes of March 5th unanimously approved as presented.
Commodore’s report: No report.
Vice Commodore reports: Michele reported that she will be creating a separate line item for the daffodil event in her budget.
Rear Commodores report: Michael reported that the Junior Boating has signed the check to reimburse QCYC for expenses paid.
Board report: Doug thanked the committee for their efforts to get the dues increase passed by the membership.
Treasurers Report: Joyce reported that she is in the process of changing the Junior Boating bank account from Bellevue to Capitol Hill. It will remain at Umpqua and will have current signatories.
She also presented a spreadsheet that detailed the current status of the electrical allocation on the main station docks. The goal is net neutral with the club members charged exactly what QCYC is billed. QCYC is slightly positive for the fiscal year 21/22. The committee decided that QCYC should continue to allocate in the same manner with this goal in mind.
Joyce reported that an error was made in last quarter’s billing for electrical. Based on the meter reading, club members should have been billed $34,000+ but were billed $7,000+. Upon discussion, it was decided that this was an operational issue, not a financial issue. Michael suggested that a notice should be sent informing members of this issue and that the balance due will be billed with next quarter’s billing. The committee agreed with this strategy.
Old Business:
In the 520 update, it was reported that QCYC is still working on permitting for the work on the docks. The engineer will submit permits. The focus will be on driving of the new pilings.
The finance committee had a meeting on April 26th to discuss investment options. It was decided that a charter committee will be set up to look at options. Tom Johnson will work with the members to adopt a draft investment policy. Tom will come to the June planning and Finance meeting with policy and options.
Mark informed the committee that he will review the budget process document regarding the negative/positive transfer of funds at end of budget cycle. It should be presented at the next meeting.
Rick reported on the current plan for the docks committee regarding their budget. They will carry over the funds on the necessary work identified that is not yet completed. He also reported that the floating dock used for opening day and by Junior Boating is nearing the end of its life. He suggested it be added to the reserve study if the club wants to maintain this dock. Mark raised the issue that if QCYC rebuilds this dock, we would need to determine where will it be stored during 520 construction. It was suggested that the docks committee should be responsible for this dock. Margaret and Michele will do research on if/how to replace.
The current status of the 22/23 budget was reviewed. No significant changes since last review. There is still an $80,000 shortfall.
Gerald is working on fund allocation balances versus individual bank accounts. He will have a presentation at the June P&F meeting.
NEW BUSINESS
The committee discussed the cost of overnight stays at the outstations. Eric Wood had previously told the committee that the last increase was 2010. It is currently at $8. a night for Bainbridge, in-station, work dock and Deer Harbor. It was decided to make this an action item for later and not to increase this fee in this calendar year. A proposal will be sent to the Board by December 2022.
Rick suggested that the QCYC consider adding the dock painting project to the reserve study. Most of this is over water and should not be done by volunteers. A bid for this work should be added to the new report that will be sent at year end. Mark will add to capital items.
Margaret reminded the committee the roofs on the docks still need to be cleaned. It will come out of the docks operating budget. She will follow-up with the vendors.
The meeting was adjourned at 7:26.
Next meeting will be June 2nd at 6:00. Note that this is a Thursday so P&F meeting will be before the Board meeting.
Action items:
Proposal for increase in overnight stay at outstations, in-stations and work slips
Add floating dock to reserve study
Add the Dock Painting project to reserve study