RE:  OFFICERS & BOARD OF DIRECTORS MEETING OF PORTSMOUTH YACHT CLUB

LOCATION:  Portsmouth Yacht Club, New Castle, NH.
DATE:  August 9, 2001

TIME:  7:03PM

PRESENT: Cmde. Roth  V/C   Coffey  R/C    Scott
  Capt. Carson  Capt. Chambers  Capt.  Jefferson
  Capt.  Rushforth P/C   Williams  Capt. Watson
  Capt.  Pappas   Capt. Kennedy  Capt. Atwood, Treas.
  Sec.   Fleming
______________________________________________________________________________________

Prior to opening the B of D's meeting Cmde. Roth introduced Capt. Graper
to discuss his participation  in reviewing with the Insurance Committee
our  present insurance coverages as well as our future  needs .   A
general discussion by the Board followed Capt. Grapers' presentation.

Cmde.  Roth then called the meeting to order at 7:31PM by noting a
quorum of the B of D was present. He then asked Sec. Fleming to report
on the minutes of the last meeting of July 14, 2001.

SECRETARY'S REPORT:

Sec. Fleming asked if all members present had received a copy of the
notes of the  June 14TH meeting of  the Board of Directors.  He then
asked for any corrections to, or omissions from the report.  With no
questions being raised or additions being requested by  the B of D Cmde.
Roth asked for a motion to accept the Secretary's report. Capt. Pappas
moved for acceptance; seconded and so voted.  The log book contains the
written report.

TREASURER'S REPORT:

Treas. Atwood  presented an interim report outlining our financial
position.  He stated that due to the lateness of the bank providing the
monthly statements to him,  and  then the  time necessary  for our
accountant to assemble his report to  Treas. Atwood,  the monthly report
to the Board was not complete.  During general discussion Treas. Atwood
agreed  to have a review completed and E-mailed to the board members
during the coming week.  This met with the approval of the Board.

REAR COMMODORE'S REPORT:

R/C Scott reported that the Hyannis Yacht Club had visited us this past
Monday and presented PYC with their burgee.  They thanked us for an
enjoyable visit, our hospitality, and extended a standing invitation to
visit them on Cape Cod.

Discussion on further advertising at different locations of the Shaw
Bros. Concert scheduled for  August 22nd was discussed by the Board.
The consensus of opinion of the Board members was to limit the addition
of guests to those invited by club members under our present guest
policy.

There being no further questions or discussion Capt. Carson moved for
acceptance of the report as given, seconded, and so voted.

VICE COMMODORE'S REPORT:

V/C Coffey reported that it had been an active month.    Problems with
both   launches occurred, the rudder cable on the small launch broke
and  the propeller on the newer launch needed to be replaced.  Thanks to
Capt. Yeaton, who loaned the club his whaler for our use during the
repairs, transportation services  to  and  from the mooring continued
without interruption.

It was necessary to exchange 50 gallons of fuel for a customer due to an
error on the staff's part in fueling.  Further  definition of the fuel
lines was initiated and the fueling policy reviewed by the staff to
eliminate any chance of future error.  The porch screen door,  the front
door lock, and the men's room window shutter has been repaired thanks to
P/C Wright.

Fuel prices remain competitive with other locations on the river  with
the sale of fuel up over last year for the month.  The mooring ball
replacement program is moving along smoothly.  A location plan of all
club moorings developed by Capt. Jones is available from the Dockmaster
or Steward.  A new gas grill for the deck has been ordered to replace
the worn out units.  The dodger for the launch  is scheduled to be
constructed during the coming week.

A long term plan for the  up-keep of the docks will discussed during the
next week or two with a marine structural engineer.  He will be asked to
evaluate the present condition of our dock facilities and make
recommendations of maintenance procedures to follow in the coming
years.  Also to bring to the Board any thoughts of future expansion of
the dock system.

There being no further questions or discussion Capt. Kennedy moved for
acceptance of the report as given, seconded, and so voted.

COMMODORE'S REPORT:

Cmde. Roth began his report by reading a letter from a member of Eastern
Point Yacht Club of Gloucester MA. thanking us for the hospitality
extended to him and two other members on July 27th. He included with his
letter a burgee representing their organization and an invitation to
visit their facilities in Gloucester, MA.  A second letter from a member
of the Hyannis Yacht Club (John Goldstein) has also been received
thanking Capt. J. Gailey in particular for his help in getting to
downtown Portsmouth and back.

Cmde. Roth went on to report the following applications for membership
have been received this past month and sent to the Membership Committee
for consideration.

 Richard B. Danks   Sponsored by  Capt. Conroy & P/C Kinser
 Albert P. Oliveira   Sponsored by  Capt. G. Hoffman & Capt. Gebow
  Rodney Watterson   Sponsored by  R/C Scott & P/C Caruso
 William B. Smith   Sponsored by  Capt. M. Pappas & Capt. Semprini

There being no further questions or discussion V/C Coffey moved for
acceptance of the report as given, seconded, and so voted.

SUBJECTS CURRENTLY  TABLED FOR FUTURE DISCUSSION BY THE BOARD

DATE SUBJECT    DISPOSITION

 9/10/98    Vision  Committee  Capt. Carson
 7/12/01    Contingency fund Policy   P/C Williams


CURRENT BUSINESS:

Cmde. Roth asked for any committee reports on current business to be
brought before the Board  of Directors.




Capt. Carson reported for the Vision Committee that replies to the
survey questionnaire are good and that the information will be reviewed
at the September meeting of the Committee.


*P/C Williams' reporting for the Contingency Fund Committee passed out
copies of his revised recommendations of how to proceed with the use or
non use of the existing contingency fund.  A general explanation of the
report and general discussion by the Board followed.  A motion to cap
the Contingency Fund at $50,000.00  was made by Capt. Carson; this
motion was seconded and approved by voice vote.  The policy procedure to
be followed in determining the use of the funds is be rewritten by the
Contingency Committee to conform with Capt. Carson's motion.  The
administrative  policy to be  reviewed by the Board at the September
board meeting, approved,  and reported to the general membership  at the
annual meeting.

NEW BUSINESS:

Cmde. Roth asked for any reports on current business to be brought
before the Board  of Directors.

Cmde Roth read a letter from Capt. R. Thornton, Capt. J. Gailey and P/C
A. Wright recommending P/C Frank Chadwick  for Life membership.  After
general discussion the Board recommended that P/C Chadwick's nomination
for Life Membership be forwarded to the general membership for approval
at the annual meeting.

Cmde. Roth requested that the capital improvement budget be adjusted to
include replacement of the Clubhouse roof shingles and repair any
boarding necessary .  R/C Coffey has inspected the roof. He  commented
that the roof would soon be in need of repairs and that replacing it now
would assure no winter damage would occur during the winter season.  A
general discussion followed with the Boards' approval to proceed with
estimating and contract letting V/C Coffey estimated the cost to be
approximately $12,000.00.  Capt. Rushforth questioned whether this
expense should fall under repairs & maintenance versus capital
improvements. Our accountant should be queried regarding this question.

V/C Coffey read a letter from P/C Simson recommending that the length of
boat assigned to a slip remain as currently approved.  In his opinion
this will assure a longer life with less maintenance to the dock
system.  A letter to P/C Simson will be sent thanking him for his input.

Capt. Pappas reported on a transient yachtsman that failed to abide by
the rules of the club by continuing to bring a cat into the clubhouse
after being informed that animals were not allowed inside the building.
Further, that due to his use of foul language and general demeanor
amongst the membership, a letter will be sent informing him that he will
not again be accepted as a guest of the club.

There being no additional new business Cmde. Roth  announced the next
meeting of the Board of Directors will be held on September 13, 2001
starting at 7:00 PM at the Portsmouth Yacht Club, New Castle, NH.  This
meeting adjourned at 9:15PM







William  F. Fleming
Secretary
* memo placed on file