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RE: OFFICERS & BOARD OF DIRECTORS MEETING OF PORTSMOUTH YACHT CLUB LOCATION: Community Development Services Office, Portsmouth, NH. DATE: March 14, 2002 TIME: 7:03PM PRESENT: Cmde Coffey V/C Scott R/C Young ABSENT: Capt. Bildberg Capt. Goldberg Capt. Rushforth
Cmde Coffey called the meeting to order at 7:07 PM by noting a quorum of the B of D was present. He then asking Sec. Fleming for his report of the February 14TH meeting of the Board of Directors. SECRETARY’S REPORT: Sec. Fleming asked if all members present had received a copy of the notes of the February 10TH meeting of the Board of Directors. He then asked for any corrections to, or omissions from the report. With questions being raised or additions being requested by the B of D Cmde. Coffey asked for a motion to accept the Secretary's report. Capt. P. Young moved for acceptance; seconded and so voted. The log book contains the written report. TREASURER’S REPORT: Treas. Atwood passed out his February report which showed revenues to date of $122,055.39. Operating expenses for the same period totaled $6,612.47, yielding a operating income for the period of $115,442.92. Membership dues, slip fees, locker fees, etc. have been paid with the exception of 3 slips, Capts. Gailey, Simson, and Thornton, which are to be reassigned, Dues for 16 members remain unpaid and their names shall be dropped from our membership roll. Capt. Watson asked a question regarding the recorded $10,000.00 loss stated for the 2000 season. Treas Atwood explained that the moneys spent were over the approved budget for that season due to needed maintenance expenditures. Cmde. Coffey asked for any further questions of Treas.
Atwood; there being none, he asked for a motion to accept the interim
financial information submitted. Capt. Chambers moved for acceptance,
seconded and so voted. Copies of the interim report will be placed on file for
future review. REAR COMMODORE’S REPORT: There being no further questions or discussion Capt. Watson moved for acceptance of the report as given, seconded, and so voted. VICE COMMODORE’S REPORT: V/C Scott reported the successful employment of a new Steward for the season. The gentleman's name is Jack Bienick and he will be coming on board prior to Docks In. Chris Kinneavy will be returning this season as Dockmaster; Chris brings with him several years experience of working on our docks and his knowledge of the members and their boats is much appreciated by all. With many of the dock personnel returning from last year V/C Scott commented that he felt a good balance of personnel is on hand, ready to go. Two work parties are scheduled for April 13th, and 20th, with Docks In scheduled for April 27th. The crane has been scheduled and launch maintenance will be completed ready for usage when the docks are floated. Capt. Watson suggested to V/C Scott that the staff wear, first name, name tags this year to assist the membership in speaking to them. There being no further questions or discussion Capt. Chambers moved for acceptance of the report as given, seconded, and so voted. COMMODORE’S REPORT: Cmde. Coffey reported that either through attrition, letters of resignation, or being dropped for non-payment of 2002 dues, 13 members were added to our membership. Two additional membership slots opened due to P/C Chadwick and P/C Fleming being elected to life membership. This allowed 15 applicants in waiting to be added to our membership. The names of those leaving our membership are as follows: Mr. Kenneth Barratt Mr. George Carlisle Mr. Thomas
Catalano Welcome aboard letters have been sent to the following new members: Capt. A. J. Homicz Capts. Richard & Kimberly French
Cmde. Coffey stated he would open discussion on several other items for the B of D to discuss under Current and new business. There being no further questions or discussion R/C Young
moved for acceptance of the report as previously given, seconded, and so voted.
SUBJECTS CURRENTLY TABLED FOR FUTURE DISCUSSION BY THE BOARD DATE SUBJECT DISPOSITION 9/10/98 Vision 2000 Committee Capt. Carson CURRENT BUSINESS: Capt. Watson asked Treas. Atwood if he acted on finding a secure investment for the Contingency fund which earned a higher rate of return than the present account the funds were in. Treas. Atwood Stated he had not, that he would like to sit down with Capt. Rushforth and perhaps another member to research alternative opportunities to increase the rate of return on the funds. Sec. Fleming noted that government I bonds were paying 4.4 percent versus our current eagle account which is paying less than 2 percent. Cmde. Coffey opened discussion on the censor issue of Capt. Kowsari. He reviewed with the B of Ds the history and actions of the previous Board relating to the approved censor action of Capt. Kowsari. After general discussion it was the decision of the Board to hold a Special Board Meeting and invite the parties involved to attend. Cmde. Coffey agreed to contact those members that either wrote letters to the B of Ds or witnessed the incidents to hear first hand the allegations concerning Capt. Kowsari. Cmde. Coffey asked for any other reports on current business to be brought before the Board of Directors. NEW BUSINESS: Cmde. Coffey asked for any new business to be brought before the Board of Directors. There being no additional new business Cmde. Coffey
announced the next meeting of the Board of Directors will be held on April 11,
2002 starting at 7:00 PM at the Community Development Services Offices in the
Parade Office Mall, Suite #40, (Upper level) 195 Hanover Street, Portsmouth, NH.
William F. Fleming |
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