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RE: OFFICERS & BOARD OF DIRECTORS MEETING OF PORTSMOUTH YACHT CLUB LOCATION: Community Development Services Office, Portsmouth, NH. DATE: January 10, 2001 TIME: 7:03PM Cmde Coffey called the meeting to order at 7:04 PM by noting a quorum of the B of D was present. He then asking Sec. Fleming for his report of the December 13TH 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 December 13TH 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. Coffey asked for a motion to accept the Secretary's report. Capt. Chambers moved for acceptance; seconded and so voted. The log book contains the written report. TREASURER’S REPORT: Treas. Atwood was unable to present a monthly report due to our outside accountant being on vacation. Hence, the past months financial information was not available to him. He distributed revision #4, of the 1st. draft, of the proposed 2002 season budget and commented that the forced figures shown for 2001 were representative of the years activity. Treas Atwood commented that he would send the final 2001 year end numbers to each of the board members during the coming week. Treas. Atwood noted that the final numbers for the 2001 season were much better than for the previous 2000 season which had shown a loss of $4000.00 for the year. This was due to the dues increase enacted at the last annual meeting. Capt. Watson questioned the reporting value of changing the fiscal year of the club to be representative of our financial position at the time of the annual meeting. Cmde Coffey suggested that this be investigated and discussed at a future meeting. 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 by the Treas. Atwood. Capt. P. Young moved
for acceptance, seconded and so voted. Copies of the rev. #4, of the budget
draft will be placed on file for future review. REAR COMMODORE’S REPORT: V/C Scott reported that last season's steward Amy Lieberthal would not be returning and that advertisements for a new Steward would be in this coming weeks Sunday papers. The majority of the dock staff will be returning with the exception of Jeremy Small. The House and Docks Committee will be meeting during the coming month to review maintenance projects and job applicants. There being no further questions or discussion Capt. Goldberg moved for acceptance of the report as given, seconded, and so voted. VICE COMMODORE’S REPORT: R/C Young reported that the Social agenda for the season was set and a locations for next years Christmas Party was being investigated. Two locations were being discussed with a third to be visited. A band for the Christmas Party has not been chosen as of this time. Discussions with the caterer Stan Shaw regarding food service for functions indicate a need to increase function pricing due to rising food costs. Wednesday Night Dinners will increase $0.50 from $12.50 to $13.00. Depending on band costs opening and closing night costs will range from $30.00 to $40.00 dollars. Special cocktail parties will most likely be in the $13.00 range. Depending on outside hall rental costs and band expense the Christmas Party will most likely be in $40.00 range again. The New Years Day Brunch and introduction of the Flag Officers for the 2002 season was successful with 90 members and guests in attendance. Capt. Bildberg commented that he felt the quantity and quality of the buffet was not up to the standards we have enjoyed at Yokems in the past. He expressed a willingness to assist R/C Young to explore other locations for this function for the 2003 event, R/C Young thanked Capt. Bildberg for his offer and took him up on it. The March 23rd Ashworth By The Sea Buffet Dinner is set to
start at 6:00PM with our after dinner speaker There being no further questions or discussion Capt. Chambers moved for acceptance of the report as given, seconded, and so voted. COMMODORE’S REPORT: There being no further questions or discussion Capt. Watson
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 Cmde. Coffey asked for any reports on current business to be brought before the Board of Directors. Capt. Bildberg reported that he was investigating methods of
how to improve the acoustics in the club hall. He had spoken with P/C Burgess
and learned of several past investigative reports that had been done and placed
on file. V/C Scott agreed to look in the office file cabinets for a copy of any
of these previous reports. *Capt. Watson passed out previous proposed drafts of a Contingency Fund Policy to be followed. He discussed in detail the history of fund policy and the recent cap voted on it of $50,000.00. After reviewing past policy and the current needs of the club it was his recommendation that the B of Ds continue to administrate the Contingency Fund as it has been since its establishment. After general discussion this met with the approval of the board. *Capt. Goldberg passed out a form to use in the establishment of a Capital Improvement Plan for the Board to use in allocating funds for physical improvement projects in future years. He explained that this type of format was very flexible, that items could be added or moved around as funds and opportunities developed. This type of plan would work in concert with the Vision and Budget Committees for current and future budgets. General discussion of the propose format followed by the Board it was decided to table further development of the items to be included until the next meeting. Treas Atwood suggested the excess contingency funds (above the $50,000.00) be committed to dock repairs rather than a pay down of the mortgage. Capt. Rushforth reported that a significant savings could be
made by refinancing the current mortgage. Cmde. Coffey opened discussion on the proposed budget for
the coming season. Treas. Atwood explained the differences in each of the chart
of accounts and the reasons for each of the changes. A motion was made by Capt.
Chambers to approve the 2002 budget as submitted, this was seconded and so
voted. 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 February
14, 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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